Spring brought a burst of sunshine over the eurozone economy. The French economy expanded rapidly in the first quarter of 2015 and even the Italian one managed respectable growth. Fiscal policy is no longer contractionary across the eurozone as a whole. Cheaper oil is boosting consumption. A weaker euro is boosting exports. And the ECB's quantitative easing appears to be working: money supply growth is picking up, suggesting deflationary pressures are easing.
Without a deal between Athens and Brussels and the IMF on economic reforms and repayments of loans within the next couple of months a Grexit or Graccident would be the most extreme outcome. We cannot rule out that the parties will fail to find a solution seeing as how the Greeks are dawdling and in the light of the harsh words uttered by, among others, Germany.
The UK consumer can look forward to further downward pressure on retail prices and this should lead to another increase in consumer spending. However, if the imbalances in the UK economy are to be addressed, British manufacturers urgently need to invest in order to increase productivity, which remains weak...
Despite the crushing weight of evidence over the last twelve months to support the assertion that Cook is a disastrous captain, Giles Clarke and co have never wavered in their support for him. He may be inept tactically, weak as a leader and struggling even to justify his place in the team, but he is handsome.
In a press release dated February the 19th addressing the so-called "single resolution mechanism" to be decided by the European institutions, the Council of the European Union stated, in what is perceived as a negotiation declaration towards the European Parliament, there was agreement between the partners that: "bail-in and not bail-out is the main guiding principle for bank resolution."
Pietersen is arguably the most talented English player of the modern era. Simply by looking at his statistics it's clear to see that he was on the way to smashing the record book and becoming an England legend. However, look past the statistics and some would say you'd find an enigmatic talent, unwilling to adapt his game or listen to authority.
Average euro zone inflation was a provisional 0.7% in October, much weaker than the ECB's official target of "close to but below 2%". It is not just the low level of inflation that has been a concern for the Bank, but the rapid decline in recent months: between July and October the rate fell by 0.9 percentage points, from 1.6% to 0.7%.
No fewer than four Regional Fed Presidents are due to speak this week, plus Bernanke, and they represent a pretty wide spread of hawks, doves and centrists, so we should be able to watch their lips to get a better sense of whether the bond market was correct in its surprisingly large response to Friday's suspect US unemployment report.