The bank for a changing world

  • EcoTV WEEK- Economic conditions deteriorate……. the ECB takes actions

    A brief update on the world's major economic issues

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  • EcoWEEK

    Overview: Drastic measures

    Focus1: EU summit… close to a complete success?
    The strengthening of budgetary discipline, the speedy enforcement of the ESM and the strengthening of the Commission's role were decided.

    Focus2: Netherlands: Thrift to fend off crisis
    Financial markets have clearly appreciated the government's austerity policy. Nevertheless, S&P has placed the Dutch sovereign bonds' AAA rating on credit watch. The recovery could start in Q2 2012, but is expected to be moderate due to the problems in the housing market and fiscal tightening.

    Drastic measures

  • Monthly Economic and Market Monitor

    9/12/11 - Equipe Economies OCDE

    The European Economic and Monetary Union (EMU) is facing a decision that it cannot put off for much longer: take a further step towards federalism, or split up. The first option is politically tricky. Maintaining a single currency will require transfers from the rich creditor countries of the North to the less rich debtor countries of the South, the sharing of sovereignty over fiscal issues and convergence of competitiveness requiring, for those who have fallen behind, a long and difficult period of adjustment


  • Conjoncture

    In brief
    14/12/11 - Philippe d'Arvisenet

    In the USA, fears of a double-dip recession have eased. Third quarter growth was revised from 2.5% to 2%. Final domestic demand rose by 2.9%, its strongest performance since the second quarter of 2010, driven by particularly strong investment in equipment and software (15.6%) and resilient consumer spending (2.3%). International trade also played its part, contributing half a point to growth.

    In brief

  • The sovereign debt crisis puts Portuguese banks to the test
    14/12/11 - Delphine Cavalier

    Back in 2007, at the very start of the crisis, Portuguese banks' profitability and solvency were not cause for particular concern. Three years on, their earnings were down sharply and they are now profoundly affected by the sovereign debt crisis. The steep decline in profits among the country's five largest banks last year may be attributed to a classic combination of falling intermediation margins and rising bad loan provisions.

    The sovereign debt crisis puts Portuguese banks to the test

    Emerging countries: room to manoeuvre is lower than in 2008
    14/12/11 - Christine Peltier

    The global environment has radically changed since June 2011 and visibility has become very poor. In many respects, the situation looks like the one in 2008 except that the epicentre of the financial storm is Europe, not the US. This explains why financial contagion to emerging countries has been much more limited than in 2008.

    Emerging countries: room to manoeuvre is lower than in 2008

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