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Things worth reading: the European View (12)

This week's view from Europe, courtesy of Edith Rigler :

Euro area government debt up to 88% of GDP, EU27 up to 83%Eurostat, 23 July 2012

The highest ratios of government debt to GDP at the end of the first quarter of 2012 were recorded in Greece (132.4%), Italy (123.3%), Portugal (111.7%) and Ireland (108.5%). Compared with the fourth quarter of 2011, twenty-one Member States registered an increase in their debt to GDP ratio at the end of the first quarter of 2012, and six a decrease. Among the highest increases in the ratio were Portugal (+3.8 %), Spain (+3.7 %) and Belgium (+3.6 %). The largest decreases were in Greece (-33.0 %), Hungary (-1.8 %) and Denmark (-1.5 %).

European banks are facing job cuts and consolidationBankmagazin, 24 July 2012

FICO and Efma, the European Financial Marketing Association, have published the results of the fifth  "European Credit Risk Survey" . European banks are facing difficult times.  More than two-thirds (71 %) of European risk managers forecast an increase in job cuts and nearly half expect waves of redundancies.

Breaking up Deutsche Bank?Handelsblatt, 31 July 2012

Pre-tax profit of half-year results of Deutsche´s investment banking decreased by 60%. As a result, breaking up Deutsche into two parts – an investment and a consumer bank – is currently being discussed in Germany. In a recent online survey, 60 % of respondent were in favour of such a move.

EU consultation on a future framework for investment funds launched  European Commission, 26 July 2012

The European Commission has launched an in-depth consultation on issues arising in the area of investment funds, focusing on how money market funds should be regulated; the fund industry's involvement in securities lending and repo´s; and the fund industry's exposure to certain OTC derivatives. The consultation ends on 18 October 2012.



About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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