More EU integration Inevitable: Mercron will be forced to federal EU or eurozone will die

Angela Merkel and Emmanuel Macron

German chancellor Angela Merkel and new French president Emmanuel Macron [GETTY]

 

THE European Union single currency will only survive through even GREATER integrations, analysts have warned.

Eurozone nations will have to find ways of working more closely together despite growing anti-EU sentiment in some countries and the fallout from Brexit.

Analyst Antonio Barroso, managing director at Teneo Intelligence, told CNBC: “I think further integration is inevitable, especially if member states want to make the euro zone sustainable in the long term. Continue reading

Tsipras tells Merkel ‘Greece has made enough sacrifices for the euro’

Greece’s defiant Prime Minister has told Angela Merkel it is Europe’s job to do “their part” to keep his crisis-hit country in the eurozone.

Meeting on the sidelines of a European Council meeting in Brussels on Thursday, Alexis Tsipras is reported to have told the German Chancellor his debt-addled nation has made enough sacrifices to satisfy the demands of its creditor powers. Continue reading

Dead Banker List – Number 36 Geert Tack

The 52-year-old private banker from Haaltert was described as flawless, sporty, sleek and successful.

The 52-year-old Geert Tack on 5 November left from his home in Haaltert to his work, but he never arrived. A detection message was distributed and there was a search location near the Zwin, which was found his abandoned car.

On December 3, the body was found on the coast of Ostend and removed from the water. The prosecutor confirmed today that it is Geert Tack, but it is still awaiting further results of the autopsy for the exact cause of death. The results of toxicological testing are not yet known. Parquet floor states that the body showed no outward signs of violence.

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ECB ready to cut rates and push banks into lending to boost euro zone economy

(Reuters) – The European Central Bank is poised to impose negative interest rates on its overnight depositors, seeking to cajole banks into lending instead and to prevent the euro zone falling into Japan-like deflation.

At its meeting on Thursday, ECB policymakers may also launch a loan program for banks with strings attached to make sure the money actually gets out into the euro zone economy.

It will be the first of the “Big Four” central banks – ECB, Bank of England, Bank of Japan and U.S. Federal Reserve – to go the negative interest rate route, essentially charging banks to deposit with it. Continue reading

Shocking US factory orders and Chinese bank woes trigger global flight to safety

“Absolutely awful” factory figures as new orders suffer worst slump since 1980 recession

Factory orders in the US suffered their steepest fall for 33 years in January and also slowed further in China, raising fresh concerns about the strength of the world’s two biggest economies.

The shock figures set off a renewed flight to safety in New York, where yields on US 10-year Treasuries fell to a three-month low of 2.60pc. The Dow Jones index tumbled 326 points, breaking through crucial technical support levels. Continue reading