Loans and Finance

Loans and Finance


News and information about loans, money, debt, finance and business issues.

Monday, February 20, 2017

Unilver Falls 7%

Unsurprisingly, since the withdrawal of the Kraft Heinz takeover bid, shares in Unilever are down by 7% in opening trade in London.

Wednesday, February 15, 2017

Employment at Record High of 74.6%

Friday, February 10, 2017

IMF and Eurozone Agree Common Stance on Greece

Reuters reports that the IMF and Eurozone have finally come to an agreement as to what they will say to Greece today.

A meeting between the lenders and Greek officials is scheduled for later today, the head of euro zone finance ministers Jeroen Dijsselbloem said in The Hague.

"There is agreement to present a united front to the Greeks," the eurozone official said, adding that the outcome of Friday's meeting with the Greeks was still unclear and it was unclear if Athens would accept the proposals.

I think it fair to say that if the IMF and Eurozone really have come to a common stance, then Greece will not like it!

Whither The Prophesied Brexit Armageddon?

So much for Project Fear!

Thursday, February 09, 2017

Malloch Predicts Grexit and Euro Demise

Ted Malloch, the US ambassador to the EU, expects Greece to leave to euro and suspects that the eurozone's days are numbered.

As per Zerohedge:
If the [IMF] will not participate in a new bailout that does not include substantial debt relief, and that’s what they are saying, then that, more or less, ensures a collision course with eurozone creditors.

Now we all know that primarily [puts pressure on] Germany, which remains opposed to any such actions, so I think it suggests that Greece might have to sever ties and do Grexit and exit the euro."
Suffice to say the EU doesn't want to hear defeatist talk like this, and is collectively whining at full pitch about Malloch's appointment!

Wednesday, February 08, 2017

Greece's Oncoming Explosion

The International Monetary Fund has warned that Greece’s debts are on an “explosive” path, despite years of bailouts and half hearted economic reforms.

This oncoming explosion existentially threatens the eurozone itself.

The solution according to the IMF is debt forgiveness.

However, as noted many times before on this site, neither Germany nor the other members of the Quadriga (sans IMF) have forgiveness in their hearts.

Jeroen Dijsselbloem, the Eurogroup President repeated the mantra saying there would be no Greek debt forgiveness and dismissing the IMF assessment of Greece’s growth prospects as overly pessimistic.

This will not end well!

Tuesday, February 07, 2017

IMF Unreasonable Demands Upon Greece

Deutsche Bank Israel CEO Arrested

Thursday, February 02, 2017

Bank of England Rejects Project Fear

Bank of England Backtracks on Brexit

Bank of England raises its economic forecast close to pre-referendum levels.

Story on the @skynews website:

So much for Project Fear!

Greece - The Crisis That Refuses To Go Away

Despite the media's obsession with Trump, there are other issues in the world.

One such issue being the ongoing Greek financial crisis, which has not gone away and is not likely to be solved.

Those who are optimistic for the chances of a solution should bear in mind that the IMF doesn't think that Greek debt is sustainable and that a write down is required. Germany, however, won't countenance a write down.

In short, there are no signs of a solution.

Tuesday, January 31, 2017

Deutsche Bank Fined £500m

Deutsche Bank has been fined in excess of £500m by UK and US regulatory authorities for failures in its anti money laundering procedures.

Friday, January 27, 2017

Short The Euro!

VW In Prosecutor's Crosshairs

RBS Increases Provisions For Fines

RBS announced on Thursday that it has set aside a further $3.8 billion to cover expected fines from U.S. authorities over its handling of residential mortgage-backed securities in the run-up to the 2008 financial crisis.

RBS said the additional provision would mostly be for a penalty expected to be imposed by the Department of Justice and other agencies over its issuing and underwriting of U.S. residential mortgage-backed securities (RMBS) during the U.S. housing boom of the 2000s.

RBS’s total package for provisions related to the mortgage-selling misconduct now stands at $8.3 billion.