The eurozone debt crisis took a turn for the worse in the week beginning July 11, with Italian yields spiking sharply higher as fears over sovereign indebtedness spread beyond the region’s periphery to affect its third-largest economy. Although the Italian Senate agreed to pass a EUR48bn austerity package on July 14, with the lower house… [Read more]
Last week Mark Schaltuper, BMI’s Head of Europe Analysis, spoke on CNBC European Closing Bell about the prospect of an internal devaluation for the least competitive eurozone economies.
Having recently returned from a week-long holiday in the Latvian Baltic sea resort of Jurmala, I felt the stark contrast between a wonderful summer holiday destination and the signs of an epic economic crisis. On the one hand I was impressed at the hospitality and pleasantness of this tiny Baltic Sea town, 20km from the… [Read more]