Search Results for: Eurozone

Brussels ready to back £80bn bailout for Spain

Decision taken following discussion about eurozone’s struggling economy Spanish minister said aid will not come with austerity conditions attached Move comes a day after Spain’s credit rating was downgraded David Cameron has said UK will not contribute funds to eurozone bailouts Euro falls and forecasters say it could hit seven-year …

Read More »

Are global market trends pointing to a recession?

Stock market gold

2016 has been one year that has seen a mixed reaction in both the commodities and the stocks market since the beginning in January. Stock prices have been fluctuating due to the uncertainty in the market as to the effect of the slowing growth in the Chinese economy. Moreover, the …

Read More »

Japan joins negative interest rate club

Haruhiko Kuroda governor Bank of Japan

In a surprise move, the Bank of Japan has introduced a negative interest rate. The benchmark rate of -0.1% means that commercial banks will be charged by the central bank for some deposits. It is designed to encourage them to use their reserves to lend to businesses in an attempt …

Read More »

EU officials panic as Greece votes ‘NO’

Greece Greek referendum no oxi EU europe

From Filip Karinja, for Birch Gold Group The Greek referendum results are in, and the nation’s people have resoundingly rejected forced austerity. Over 60% voted ‘NO’ to the IMF bailout, with less than 40% voting ‘YES’. This landslide victory sends a clear message to the European Union that the people of Greece are …

Read More »

Greek banks get additional €10bn to counter ECB pressure

Greek bank

Banks in Greece have been given the go ahead to access an additional €10 billion in emergency funding from the Bank of Greece, according to a government official. This is a push-back from Athens demonstrating its intent to roll back austerity measures. “Greece does not aim to blackmail anyone but …

Read More »

Bank of England director warns: Bond bubble threatens financial system

Andrew Haldane

Bank of England Director: Andrew Haldane A key Bank of England policymaker has warned of the risks to global financial stability when “the biggest bond bubble in history” bursts. In a wide-ranging testimony to MPs, Andy Haldane, Bank of England director of financial stability, admitted the central bank’s new financial policy committee is taking …

Read More »

Dollar no longer primary oil currency as China begins to sell oil using Yuan

oil pump man

On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970’s, when Henry Kissinger forged a trade agreement with the Royal house of …

Read More »

They will attempt to install a dictatorship – Nigel Farage

With escalating fears regarding the stability of the eurozone, today King World News interviewed former LBMA commodities broker and trader and current MEP Nigel Farage to get his take on the situation.  Farage told KWN he believes there will be an attempt, within months, to install a dictatorship in Europe.  …

Read More »

ECB to buy gold and stocks next as Japanese QE fails

ECB European Central Bank Yves Mersch

While it remains to be seen if a majority of the Swiss population want their central bank to purchase a whopping 1,500 tons of gold in the coming years, perhaps the most notable event for gold overnight (aside from news that while India exports fell 5% in October, gold and silver …

Read More »

European Central Bank cuts interest rate to below zero

ECB euro symbol

The European Central Bank lowered its deposit rate to -0.10% as the continent battles deflation after many failed monetary policy attempts. The bank said more extraordinary tools can can be used to prevent the derailment of economic recovery. The European Central Bank (ECB) cut its main refinancing rate to 0.15 percent from …

Read More »

The Euro Continues to Advance in 2018

The Euro had a good performance last year and managed to post solid gains, especially against the US dollar. The bullish trend continues at the present time, as the block currency is favoured by good economic developments and increasing prospects of an ECB monetary policy normalization. If we refer to …

Read More »

Germany accelerates gold repatriation as confidence in euro plunges

Germany gold repatriation euro

Berlin is bringing home its gold reserves stored in New York, London and Paris faster than scheduled, Germany’s central bank said Thursday. The move is linked to surging euroskepticism, as new governments in France and Italy may ditch the single currency. The German Bundesbank has already moved 583 tons of …

Read More »

List with 132 names who pulled Cyprus deposits ahead of “Confiscation Day”

Cyprus

With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation “news” was the most unsurprising outcome for the nation’s financial system and was known by virtually everyone on the ground days and weeks in advance: first it was disclosed that Russians had been pulling their  money, then it was suggested the …

Read More »

Bank of Cyprus to cut 30% off deposits over €100,000

Cyprus banking crisis

Cypriots and foreigners wait in line to withdraw money from an ATM of a Laiki (Popular) Bank branch in the old city of the capital, Nicosia. Depositors in the Bank of Cyprus, the biggest bank on the island, will reportedly lose 30 percent on their holdings above 100,000 euros, the …

Read More »

Hollande wins French presidential election with 51.9% of votes

First official results show Socialist Party candidate Francois Hollande has defeated incumbent President Nicolas Sarkozy, who managed to secure only 48.1 per cent of the votes. Sarkozy has conceded defeat, asking that Hollande’s victory be respected. The estimates were carried by French media after all polling stations closed at 20:00 …

Read More »

What are the Benefits of Outsourcing Payroll Management?

While the merits and uncertainties of Brexit continue to be debated at length, there’s no doubt that leaving the EU is set to have a negative impact on the UK economy. Last year saw the UK grow at a slower rate than Europe for the first time since 2010, for …

Read More »

Australia’s looming private debt crisis

Money Australia

As household debt has boomed exponentially over the last two decades, the savings of the household sector has plunged. Australia’s private debt dynamics have been thoroughly explored elsewhere, but less well understood is the country’s position relative to the OECD and BRIC nations. Thankfully, the Bank for International Settlements (BIS) …

Read More »

Americans warned bank ‘bail-ins’ coming

Experts say institutions will grab deposits without warning With the United States facing a $17 trillion debt and an acidic debate in Washington over raising that debt limit on top of a potential government shutdown, Congress could mimic recent European action to let banks initiate a “bail-in” to blunt future …

Read More »