Alas, the housing construction bubble burst long before the Pandemic.More
How Negative Interest Rates Sap Consumer Spending by an Ever Larger Part of Consumers
Over-65s, a large and growing demographic in Europe, are cutting their spending at worst possible time as NIRP eats into savings, pensions, investments, and annuities.More
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank
Big Gamble that was hot for years has gone sour after Turkish lira’s plunge and surge of defaults on bank debts denominated in foreign currency.More
Bailout Air Europa, to Be Acquired by IAG — Owner of British Airways and Spain’s Top 2 Airlines — Doesn’t Pass Smell Test
IAG seeks aid from Spain to buy Spain’s #3 airline for a near-monopoly in Spain. The family that’s selling Air Europa seeks that bailout too.More
Bite the Bullet or Extend & Pretend? Unemployment in Europe
45 million people have been furloughed in Germany, the UK, France, Italy, and Spain, but the “unemployment” rate barely budged because furloughs don’t count. Creating government-subsidized zombie companies & zombie jobs?More
Why’s the ECB Buying the Debt of So Many Non-EU Companies?
“Companies from outside the euro zone are setting up companies or vehicles to issue debt in euros and thereby qualify for the ECB’s purchase programs.”More
Turkey in 2nd Currency Crisis in 2 Years. Lira Hits Record Low
Foreign investors are fleeing, worried about surging inflation, deeply negative real interest rates, and a central bank unwilling to crack down on inflation.More
Confession Time for Big Banks in Europe: Banco Santander Reports $12.7 Billion Loss
Too-Big-To-Fail Santander is also one of the Eurozone’s worst capitalized banks.More
A Midsummer Nightmare for Tourism: UK, Other Countries Impose Quarantine Requirements on Returnees from Spain as Virus Cases Surge
Fresh Tsunami of Cancellations Washes Over Tourism-Dependent Spain amid Fears Borders Will Slam Shut Again.More
Coca-Cola Confronted by Big Problem in its Second Largest Market. For Once, Political Connections Failed. Oct 1 is the Date.
Per-person consumption of soft drinks in Mexico is the highest in the world. But due to link of obesity to Covid deaths, sugary drinks now face their nemesis.More
Nick Corbishley 