Category: EU

Canada, EU, UK

Europe update – Bloomberg

Colin Henderson

#geopolitics #risk President Donald Trump issued a direct threat to Iran, saying he’d hold the regime responsible for future attacks on shipping in the Suez Canal and southern Red Sea by Houthi rebels. His threat of retaliation against Tehran ratchets up the stakes even more after he authorized military strikes over the weekend on the group. The Houthi health ministry said 53 people were killed. Successive US administrations have accused Iran of supplying training, expertise and weapons to the Houthis, but taking on Iran directly would carry a fresh set of risks. Trump’s director of national intelligence, Tulsi Gabbard, said that other countries should … Continue reading Europe update – Bloomberg

Economy, EU, Geopolitics

Germany’s Economy Was Once the Envy of Europe. Not Anymore

Colin Henderson

This from NY Times confirms we are collectively in a state of chaos in terms of ‘world order’. In this blog one of my primary focus is on business and banking risk. Canada is a classic forerunner to what we see in Germany in today’s election. There was a time where my primary focus was bad actors and criminal elements including bad actor governments. The notion of risk has moved inward and banks must take care of their own risk management and deploy their own mitigation factors. That means isolating and understanding risks to their bank and taking arbitrary actions … Continue reading Germany’s Economy Was Once the Envy of Europe. Not Anymore

EU

EU Draghi Report on competitiveness with China and US

Colin Henderson

commission.europa.eu/document/download/97e481fd-2dc3-412d-be4c-f152a8232961_en EU competitiveness: Looking ahead Today, Europe stands united in its pursuit of inclusive economic growth, focusing on  sustainable competitiveness economic security open strategic autonomy fair competition They all serve as pillars of prosperity.  The vision that drives Europe forward is to create conditions where businesses thrive, the environment is protected, and everyone has an equal chance at success. Sustainable competitiveness should make sure businesses are productive and environmentally friendly. Economic security ensures that our economy can handle challenges and protect jobs. With open strategic autonomy, Europe is not just open for business; but is shaping a better, fairer world. … Continue reading EU Draghi Report on competitiveness with China and US

Economy, EU, US

Signs of trouble in the western economies remain for banks

Colin Henderson

Whether its Greece, Portugal and the EU financial issues, or the ongoing housing saga in the US, we are clearly not yet out of the woods relative to the 2008 banking crisis. U.S. Plans to Expand Aid to Troubled Homeowners | NYT The Obama administration will announce on Friday a broad new initiative to help troubled homeowners, potentially refinancing several million of them into fresh government-backed mortgages with lower payments. Technorati Tags: economy,banks,Greece,Portugal,US housing,economic crisis,banking crisis Continue reading Signs of trouble in the western economies remain for banks

EU

Nicolas Sarkozy opening plenary | Davos WEF Annual meeting 2010

Colin Henderson

I finally got around to watching the full Sarkozy opening to WEF.  It is both controversial and interesting.  He continues the theme that ‘anglo saxon’ financial models are the problem and makes some good points that are hard to disregard.  For example, he notes that it was too easy to earn large amounts of money based on ‘today’ with no regard for future implications, and with little effort. Worth watching.  There are more ways to see the world that the North American way. Technorati Tags: WEF,Davos,Sarkozy,World Economic Forum Continue reading Nicolas Sarkozy opening plenary | Davos WEF Annual meeting 2010

EU

Eurozone banks face $283bn writedowns| Report

Colin Henderson

Europe and the ECB are slow with dissemination of analysis and information when compared to the IMF, US and UK.  But when they do, here is 226 pages of analysis that tells us Euro Banks will write off $283 Bn over 2009/ 2010. More to come after I get a chance to digest, but meantime here it is for your reading pleasure.  They key is the general deterioration and reduction in forecasts since last in December 2008. ECB Financial Stability Review pdf The further significant deterioration of global macroeconomic conditions since the finalisation of the December 2008 Financial Stability Review … Continue reading Eurozone banks face $283bn writedowns| Report

EU, UK, US1 Comment

How much of this is a US bailout for a European problem?

Colin Henderson

Sometimes you have to read something twice because you thought it was a mistake.  I had that moment in an article in the paper version of the Financial Times this morning.  It lists European Banks, and shows the percentage their assets are of their country’s GDP.  Here is a synopsis, with just those that are close or exceed their country’s GDP. For fun I added the North American view, and even more fun I added Microsoft, one of the largest companies in North America.  It shows that the relative size of Banks to the European economies is a significant proportion, … Continue reading How much of this is a US bailout for a European problem?

EU

Moneysupermarket hit as Barclays closes loans unit

Colin Henderson

An interesting side effect of the economic situation, and the credit crisis. Moneysupermarket are estimate to lose $7 million in referral revenue as a result of Barclays cancelling their secured loan service. FT.com / Companies / Financial services – Moneysupermarket hit as Barclays closes loans unit The group said First Plus was the largest provider of secured loans in the market, and its withdrawal would cost it £7m in revenues in the remainder of this year. Analysts at Numis had previously expected revenues of £186m this year. Continue reading Moneysupermarket hit as Barclays closes loans unit

EU, P2P Lending1 Comment

Summary of p2p lending market in Poland | Cap Gemini & Gemius

Colin Henderson

Report with rich data on the Polish p2p market. Data is qualitative comparing typical internet population, and p2p population. In general it appears that p2p lending in Poland is skewed towards to the average internet population. Having said that, the distrust level of Banks in Poland is higher than in the west, so the outcomes are not directly comparable. Well worth the read. Internetowe pożyczki społeczne :: Gemius SA Raport w języku angielskim [note: link to English pdf] Continue reading Summary of p2p lending market in Poland | Cap Gemini & Gemius