I am depressed.
I am not dealing well with the heat.
I can find no line of development in the financial news.
The false cheer is getting to me.
I will sleep and see what has broken in the night.

Brinkmanship as Spain warns over bail-out

 

Spain issues a veiled warning that it will not accept a full bail-out from Europe if the terms are too harsh, a move that would paralyse the ECB and call the euro’s survival into question.

04 Sep 2012

| 80 Comments

UK is 'clawing its way out of recession' says economists

 

Britain has begun to “claw its way out of recession”, economists have declared, thanks to gathering momentum in the country’s vital services sector.

04 Sep 2012

| 58 Comments

Debt crisis: as it happened - September 4, 2012

 

Greece will not need more money if it sticks to its bailout plan, the French president said, following a meeting with Mario Monti, as an ECB policymaker said it was unacceptable to doubt the euro's future.

04 Sep 2012

| 460 Comments

US manufacturing sluggish in August as exports fall

 

The pace of growth in US manufacturing remained sluggish in August as exports declined for a third straight month and firms were slow to add new workers.

04 Sep 2012

| 1 Comment

EU lawmakers accused of 'breach of confidence' over Draghi

 

European Union lawmakers have been attacked for a "breach of confidence" after disclosing details from a confidential briefing with ECB president Mario Draghi.

04 Sep 2012

| 21 Comments

Swiss economy contracts for first time in nine months

The Swiss economy shrank slightly in the second quarter in its first contraction in nine months, data showed on Tuesday, as the crisis in the neighbouring eurozone hit exports of services even as private and public consumption stayed healthy.

04 Sep 2012

| 4 Comments

Australia holds rates, warns outlook for China 'uncertain'

Australia's central bank held interest rates at 3.5pc for a third month in a row on Tuesday saying past cuts had yet to be fully felt, though it did concede the outlook for China was becoming more uncertain.

04 Sep 2012

| 2 Comments

Moody's cuts EU outlook to negative: the full text

Moody's has lowered the European Union's long-term issuer rating outlook from stable to negative, saying the move reflected credit risks of the bloc's key budget contributors. Here is its decision in full.

04 Sep 2012

| Comment

 

 

Endangered Currency

First Greece -- then Ireland, Italy, Spain and Portugal: The European common currency has come under pressure from large national debts and the effects of the global financial crisis, ultimately requiring a rescue package close to a trillion euros.

A Bleak Autumn for Monti The Catastrophic State of Italy's Labor Market

SPIEGEL ONLINE - September 04, 2012 The miner protest in Sardinia may have resulted in a stay of execution for a doomed coal production facility, but Italy's economy remains in freefall. The country is shedding jobs, production rates are abysmal and the infrastructure is appalling. Prime Minister Monti has vowed to turn things around. But how? By Hans-Jürgen Schlamp more...

European Parliament President Call for Political Union Now is 'Dramatic Mistake'

SPIEGEL ONLINE - September 04, 2012 Leaders in Germany and elsewhere are making a big mistake by focusing on long-term EU reform when fast decisions are needed, says Martin Schulz, the president of the European Parliament. The German Social Democrat tells SPIEGEL that Europe needs to pool its debt, give the ESM a banking license and help Greece return to growth.  more...

Euro Crisis Starts to Bite German Export Orders Fell Sharply in August

SPIEGEL ONLINE - September 03, 2012 German exporters suffered their biggest drop in international orders in more than three years in August, according to a survey released on Monday. Retailers too are starting to feel the impact of the euro crisis. Europe's largest economy, it seems, is losing its immunity to Europe's debt problems. more...
 


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