RSS feedczech Republic
’Czech these periphery write-downs out
Only in a stress test, but still…
From the Czech central bank’s August stress-testing of its banks, published on Monday:
The Recession stress scenario assumes a drop in economic activity as a result of a renewed recession in the Czech Republic’s main trading partner countries,
In pursuit of 475,500 stolen European Union Allowances
If you thought illiquid European sovereign markets weren’t enough of a problem — time now to familiarise yourselves with the latest trading quagmire to hit Europe.
On Wednesday, the European Union was forced to suspend transfers of its carbon units,
Norway doesn’t need no stinkin’ stress tests
The European Union’s banking stress tests cover 91 banks in 20 countries.
Seven of those financials are Nordic — but none of them are Norwegian.
Norway is of course, not a member of the EU, but it keeps close ties,
‘The eurozone has failed,’ Czech president says
Václav Klaus, president of the Czech Republic since 2003, is not impressed with Europe’s single currency experiment. In fact, he thinks the eurozone is a failure.
As he put it in an essay in the Wall Street Journal on Tuesday:
Nicht grün shooten in Deutschland
A major European Q1 datafest arrived on Friday. Blasting through all the figures released so far this morning, however, the following news jumps out.
From Bloomberg:
May 15 (Bloomberg) — The German economy contracted more than forecast in the first quarter,
Emerging Europe outlook: still bleak
It’s still not looking good for Emerging Europe according to the latest report on the region from Fitch:
Growth in EE is expected to drop more than in other regions as the characteristics of many countries — such as trade openness,
CEE’s stand against SPECTRE-lators
The interesting thing about the Central and Eastern European crisis is how quickly it turned. Even six months ago, economists and city analysts were saying more established markets like Poland and the Czech Republic would sail through the financial crisis largely unscathed.
Not a good start to the presidency
That would be the Czech Republic’s presidency of the European Union, by the way, which the Eastern European country took on January 1st.
So why so bad? Well, on Wednesday the country’s statistics office reported industrial production fell by 17.4 per cent -the most since 2000 and roughly twice as much as predicted by analysts.