Tag: Belgium

A view from Belgium, where EC officials are now officially saying austerity will end

A view from Belgium, where EC officials are now officially saying austerity will end

The first thing that jumps out at me is the interview with Marco Buti, who says point blank that austerity must end as it is “pointless”. That’s huge because he is Olli Rehn’s right hand man. And Rehn has just confirmed that the EC is relaxing timetables for France along with the Netherlands, Slovenia, and Poland. After the Draghi presser yesterday, in which, Draghi repeatedly pointed only to medium-term consolidation, the relaxed timetable on France and the Netherlands and Macro Buti’s upcoming comments make it clear that we have entered a new era of EU policy, as I remarked yesterday.

Last Days Of Pompeii?

Last Days Of Pompeii?

What is becoming clearer to almost everyone is that this is now no longer simply a Euro periphery sovereign debt crisis. It has become a full blown crisis of confidence in the Euro itself.

Weekend Developments and Their Significance Going Forward

Weekend Developments and Their Significance Going Forward

There have been several important developments over the weekend which are likely to support the euro at the start of the week, after falling for the past four consecutive weeks and recording a 7-week low before the weekend. However, I continue to expect corrective gains in the euro will be short-lived and subject to headline risks. I still think that the $1.29 year end target for the euro is reasonable.

Belgian government collapses

Belgian government collapses

And the crisis continues in Belgium … The acting Belgian Prime Minister Elio Di Rupo officially resigned on Monday night. He has been trying to form a government. But after a serious step forward in October, stalled negotiations have led him to go to King Albert II this afternoon

Dexia is seeking a new brand name

Dexia is seeking a new brand name

Belgian newspaper De Standarad reports that the folks at twice bailed out Franco-Belgian bank Dexia are looking for a new name for the company. Apparently, the Dexia brand has been tarnished.

Dexia is Belgium’s version of NCNB, now Bank of America, a small bank that grew enormously through expansion and acquisition.