The euro zone’s era of massive excess liquidity, courtesy of the European Central Bank, is about to peak. In a speech on Thursday, ECB Chief Economist Peter Praet presented a model that projects excess liquidity will peak at about 2 trillion euros around the end of this year and drop below 500 billion euros in […]
Best Reads
The Fed Has Played With Fire: Now Comes A Reckoning (Forbes)
Monetary policy makers now face a great test to regain control with monetary restraint and at the same time keep markets and the economy from suffering a reverse.
It Didn’t Take Long: Abengoa Is Back At It (Wolf Street)
Abengoa, the Spanish green energy giant — with big entities in the US, Canada, Mexico, and other countries — famed for cooking its books with Enron-esque aplomb before collapsing in spectacular fashion a few years ago, is back in trouble.
Speech by Mario Draghi at the ACPR Conference on Financial Supervision (ECB)
“As much as the global financial crisis has exposed weaknesses in the regulation and supervision of banks around the world, in the EU such weaknesses were exacerbated by fragmentation.” “Progress in completing the Banking Union – namely, first harmonising options and discretions, completing resolution, and laying the groundwork for the creation of an effective deposit […]
Croatia’s cash-strapped Uljanik Group has one month to find solution. (SeeNews)
The situation in Croatia’s financially constrained shipbuilding group Uljanik is dramatic as the company finances are reaching a low point, the chairman of its management board, Gianni Rossanda, said. Uljanik has a month to find a solution.
Too many life insurers still caught in interest-rate trap (Handelsblatt)
According to a recent report by the finance ministry, 34 life insurers – about 40 percent of the country’s total – are under special scrutiny by BaFin, Germany’s financial supervisory authority.
A Warning From Europe: The Worst Is Yet to Come (The Atlantic)
Polarization. Conspiracy theories. Attacks on the free press. An obsession with loyalty. Recent events in the United States follow a pattern Europeans know all too well.
How Lehman was carved up, and hedge funds won big
Ten years on, more than US$150bn has been paid to creditors from bankruptcy proceedings. Many investors have done very well.
How Germany’s version of the class-action lawsuit functions (Handelsblatt)
The VW investor lawsuit looks like a US-style class action but it isn’t. The possibilities for suing companies are more limited in Germany, though they’re changing
Casino’s Woes Pit Holders of Complex Bonds Against Muddy Waters (Bloomberg)
UniCredit SpA and Societe Generale SA are among banks that issued around $107 million of structured notes in total last month tied to the embattled French grocer — the most on record