SX7E, stoxx50 banking sector, is ~ -10% year to date.
With a war, inflation>10%, impending recession,drought, it's a surprising performance.
What wld have you forecast if, end 2021, one had told you that, apart from ...
1/6
..grasshopper invasion, EU wuld have experienced such dramatic events?
surely not only -10%!
year end close was 100.50, todays High 92
Recent rally (77-92) is impressive.With the help of areas (volume+prices),it's close to 1 and 2, higher than 3 and 4 (constant volumes bars) 2/6
Mar 8, 2022 • 4 tweets • 1 min read
Some thoughts on joint EU bonds to fund defence/energy.
This initiative reminds me july2012 "whatever it takes" and Draghi's words abt the political will supporting EU in the midst of sovereign crisis.
Like in 2012,the issue EU is facing now hasnt just an economic nature.
1/n2/n the issue is EXISTENTIAL !
The dependence from Russia gas has been tolerated for economic convenience for 25 years.
Now The Russia/China bloc is questioning EU safety on two fronts: military and energy (see today's Putin blackmailing on gas supply).
May 18, 2020 • 4 tweets • 2 min read
Macron Merkel proposal :
- the EU budget issues 500bn 25yrs bonds (negative rates surely)
- gives them to States as transfer
- States pay them back yearly beyond actual MFF.
if Italy and Spain are the most affected (and will receive a larger slice), which country will have to become a heavy net contributor in the reimbursement of the loans?
2/2
