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Euro Strengthens as Fears Fade
Keywords:
The Italian government sold 5 billion euros of three year bonds in Jan 2013 at an interest rate of 1.85%, the lowest since 2010. This is a remarkable change from 2012.
Mario Draghi, head of the ECB, and the eurozone crisis with Italian bond yields approaching 8% in Dec. 2011
11/10/2011
Draghi addresses the issue of large scale purchases of bonds of Italy and Spain to ease pressure on bond yields, by leaving open the possibility of action if the EU countries take the necessary steps for a strict budgetary framework.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Short term actions to save the euro taken at the Brussels negotiations on June 28, 2012
01/11/2012
Short term steps Germany agreed to when pushed hard by Italy, Spain and France, include the critical actions to let the European rescue funds to directly buy Italian and Spanish bonds on private markets to drive down bond yields, and provide direct aid to Italian and Spanish banks. The two steps were vital to restore market confidence and necessary if the European project was to be saved. The marathon negotiation stetched for 14 hours with brinksmanship, and were described by prime minister Monti of Italy as "hard and tense" but worth it.
Grouped Articles
Italy's Monti Hopes Summit Win Plays at Home
Wall Street Journal 06/29/2012
Global Markets Soar on European Breakthrough
New York Times 06/29/2012
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Mario Monti: Alessandra Galloni's Interview with the prime minister of Italy, August 2012
01/11/2012
Galloni talk to Monti in this important interview after the June 28, 2012 summit of European leaders. In it Monti outlines once more how he sees ECB head Draghi's role in the days ahead, the measures he has taken that are unpopular in Italy, his ideal for Europe.
Grouped Articles
Italian Left Bolstered by Showing in Mayoral Races
Wall Street Journal 06/11/2013
‘The European Union needs Italy’ - The Washington Post
Washington Post 10/18/2013
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Mario Monti: Interview Excerpts
Wall Street Journal 08/06/2012
Q&A: Italy’s Economy Minister Vittorio Grilli
Wall Street Journal 09/12/2012
ECB president Mario Draghi's remarks to calm financial markets on July 23, 2012 as the yield on Spain's government bonds reaches 7.5%
07/26/2012
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
Italy- government debt, credit ratings, and borrowing costs 2010-2013
05/14/2010
Italy's borrowing costs went up to 5.7% a week after the July 22, 2011 eurozone debt deal for Greece.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
Italian Vote Turns in Bonds' Favor
Wall Street Journal 04/23/2013
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Wall Street Journal 05/14/2010
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
The Key to Italy's Rating Is Kept in Canada
Wall Street Journal 11/02/2013
Italy's debt and Italian savers investing in Italian government bonds- a key difference with Spain
05/14/2010
Italy issued 18 billion euros in bonds in October 2012 at 4.74%, with most of the bonds going to Italian savers. The borrowing costs are down significantly. Italian retail investors have net private wealth of over 8 trillion euros and household wealth is 4 times the GDP, one of the highest in Europe, according to the Bank of Italy. This means most of the interest paid remains inside Italy and is available for consumption and spending. This is a key difference with Spain where households are highly indebted after the housing bubble.
Grouped Articles
Italian Vote Turns in Bonds' Favor
Wall Street Journal 04/23/2013
Wall Street Journal 05/14/2010
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Fate of Euro May Hinge on Italian Savers
New York Times 11/22/2011
Italy's Borrowing Costs Drop Sharply at Auction
New York Times 12/28/2011
A Written Plan Can Help Your Portfolio
Wall Street Journal 05/30/2012
How Mario Draghi, ECB president, sees the problems in the eurozone and policy direction in 2012-2015
01/11/2010
A wide ranging interview with Mario Draghi by Wall Street Journal reporters Blackstone, Karnitschnig and Thomson, which gives insights on how Draghi sees solutions to the crisis in the eurozone and future policy. Draghi favors good fiscal consolidation which combines freeing up labor markets and structural changes for Italy, Spain and other southern countries, with spending reductions, and capital investment in the future as opposed to tax increases for current spending and lack of capital investment for future growth. He points out that with excessive debt to GDP ratios there is no alternative to this right kind of fiscal consolidation. The fiscal consolidation gives the structural changes time to be put in place..
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Struggles With Low-Altitude Flying
Wall Street Journal 11/10/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
The ECB's Mario Draghi and efforts to overcome the opposition of Jens Weidmann of the Bundesbank to bond buying
10/02/2012
An account of how the ECB's Draghi struggled to ovecome opposition from the Bundesbank to his decision in July 2012 for unlimited bond purchases of sovereign bonds of Italy and Spain to reduce bond yields and borrowing rates on debt. Draghi's famous words at the time were that the ECB would take decisive action: "believe me it will be enough." To do this he had to work closely with Finance minister Schauble and chancellor Merkel of Germany to overcome opposition from German media.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
William R. Cline's estimates that show a positive outlook for Spain and Italy's debt and the eurozone by 2020
01/04/2011
Cline is an analyst with a good reputation going back to the Latin American crises of the 1980's. His most recent working paper shows estimates of Spanish and Italian debt that suggest a positive outlook for the long term if the measures taken now to contain debt are continued.
Grouped Articles
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Spain and Italy Are (Probably) Fine
Wall Street Journal 08/14/2012
France Raises Taxes in Tough Budget
Wall Street Journal 09/28/2012
Beijing Signals Interest in Spain Debt
Wall Street Journal 01/04/2011
Italy Needs a Growth Renaissance
Wall Street Journal 06/24/2011
The Euro currency and the European Union
11/04/2008
The European Union currency since its inception and after the economic crisis of 2008-2009.
Grouped Articles
Euro May Be Resurfacing as a Safe Haven
Wall Street Journal 02/04/2014
New York Times 05/22/2014
Dollar Surges to 11-Year High Against Biggest Rivals
Wall Street Journal 01/04/2015
Wall Street Journal 11/04/2008
Joseph E. Stiglitz -- Farewell to the Dollar as the World's Currency of Choice
Washington Post 09/03/2009
World Bank Head Sees Dollar’s Role Diminishing
New York Times 09/29/2009
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