LONDON (Reuters Breakingviews) - The International Monetary Fund’s crystal ball is murkiest about some of the things which matter most to the global economy. Unfortunately, the countries most responsible for the cloudy outlook are also the ones least likely to heed the international lender’s advice.
LONDON (Reuters Breakingviews) - Mario Draghi has done as much as he can to help his successor at the European Central Bank. The bold steps taken by the outgoing central bank boss to stimulate the euro zone economy are, however, creating a different headache for Christine Lagarde even before she starts at the beginning of November.
FRANKFURT (Reuters Breakingviews) - Nature abhors a vacuum. The tendency for voids to be filled may prove a problem for the European Central Bank’s incoming boss, Christine Lagarde.
LONDON (Reuters Breakingviews) - Mario Draghi is channelling a new cartoon character. The outgoing European Central Bank boss, dubbed Super Mario for all he did to fight the euro zone crisis and revive growth, on Thursday unveiled fresh stimulus measures, including a rate cut and new asset purchases. The open-ended nature of the buying smacks of Toy Story’s Buzz Lightyear. Markets seem to think it will last to infinity and beyond.
LONDON (Reuters Breakingviews) - Germany could kill several birds by issuing one green bond. Raising money solely to manage a shift away from fossil fuels would underscore Berlin’s focus on making the transition. It would also give eco-friendly finance a crucial political boost. And it makes economic sense.
LONDON (Reuters Breakingviews) - European Central Bank President Mario Draghi has just been given a free pass to be bold. It comes from Germany’s statistics office, which said on Wednesday that Europe’s largest economy contracted in the second quarter. The development will lessen any Teutonic resistance to the monetary easing that Draghi is planning.
LONDON (Reuters Breakingviews) - European Central Bank President Mario Draghi has made many promises, and lived up to them. Yet this time, financial markets want to see the colour of his money upfront.
LONDON (Reuters Breakingviews) - Sterling is a collateral victim of the race to be Britain’s next prime minister. The frontrunner, Boris Johnson, has promised Britain will be out of the European Union by the end of October, “do or die”. What’s more, he and his rival, Jeremy Hunt, are vying with each other to take a harder stance on Brexit. Whatever good that does either man’s chances, it’s inflicting considerable damage on the pound. More pain probably lies ahead.
LONDON (Reuters Breakingviews) - A new breed of central bankers is emerging. They speak plainly and are less steeped in economic theories than recent predecessors. That has benefits but also means it is harder to predict how they will react.
LONDON (Reuters Breakingviews) - The winner of the European Union’s jobs jackpot will matter less during the next economic downturn than the one who got the consolation prize. After much unedifying horse-trading about who would head the European Commission, the bloc’s leaders on Tuesday agreed a package deal that included naming International Monetary Fund boss Christine Lagarde to replace Mario Draghi as European Central Bank president. The Frenchwoman brings more continuity than credibility to an institution that rescued the euro from an existential crisis.