Italy

EU Celebrates 60th Birthday As European Leaders Scramble To Hold "Fraying" Union Together

Today in Rome, the EU celebrates its 60th anniversary. The celebration comes at a strange time: four days earlier, Theresa May delivered an unprecedented blow to the bloc's growth by filing Britain's formal exit papers. The impending Brexit and tens of thousands of protesters gathering beyond the tight police cordon around the Campidoglio palace offered a more sober reminder of the challenges of holding the 27 nations to a common course.

Italy Falls Out Of Love With The Euro: Beppe Grillo Resurgent In The Polls

Recent polls for Italian politicians supporting the eurozone and EU have collapsed. Pro-Europe polls are highly likely to get worse as a  further splintering of Matteo Renzi’s PD party takes place. It is not out of question for Beppe Grillo’s eurosceptic Five Star Movement (M5S) party to achieve an absolute majority in the next election...

Will Thursday's Final TLTRO Finally Spark Carry Trades?

On Thursday, the ECB will hold its fourth tender under the TLTRO-II (Targeted Long-Term Refinancing Operations) programme. A large take-up is expected. A poll published by Reuters had a  median forecast of EUR 125bn net borrowing, with estimates as high as EUR 300bn. From a rates perspective, what matters is whether these funds will trigger flows into the bond or swap markets as banks set up carry trades.

Dijsselbloem Must Go, But That Solves Nothing

The EU in its present form cannot continue, and any options that would have allowed reforming it have been closed off due to its very structure. That real problem is that people don’t get to vote for who controls Brussels. So even if Dijsselbloem is ousted, the powers that be, Germany, Holland, Finland, Austria, will simply appoint another one of their pawns in his place. 

Frontrunning: March 23

  • U.S. stock futures slip as concerns mount over delays to Trump tax cuts (Reuters)
  • Global Markets Follow U.S. Stocks Lower (WSJ)
  • Gorsuch, Avoiding Pitfalls, Moves Closer to Approval (WSJ)
  • Trump, Koch brothers at odds over 'Trumpcare' vote (Reuters)
  • Manafort's plan to 'greatly benefit the Putin Government' (AP)

The Kagans Are Back; Wars To Follow

The Kagan family, America’s neoconservative aristocracy, has reemerged having recovered from the letdown over not gaining its expected influence from the election of Hillary Clinton. Back pontificating on prominent op-ed pages, the Family Kagan now is pushing for an expanded U.S. military invasion of Syria and baiting Republicans for not joining more enthusiastically in the anti-Russian witch hunt over Moscow’s alleged help in electing Donald Trump.

Apple Launches Red iPhone 7, Introduces New iPad

As previewed last week, moments ago Apple has introduced a 9.7-inch iPad with Retina display, starting at $329. Today AAPL also announces red edition of iPhone 7 and iPhone 7 Plus to mark more than 10 years of partnership between Apple and HIV/AIDS charity.

Dutch Election Results Confirm 'Far Right Populism' Still On The Rise In Europe

Those who support the idea of globalism and strive for closer European integration believe the results of the Dutch election indicate the tide has been stemmed, with Eurosceptics and "populist" forces on the defensive - the buck stops here, this is the end of domino effect. However, let’s look at the facts...

Is Denmark On The Brink?

"The Danes look at Sweden with absolute horror...Denmark is on the brink. And Europe is on the brink. We completely lost our culture, our values and our moral compass. What used to be good is now evil and vice-versa."