As the economic crisis play out in Europe, an important question for investors is how sovereign debt exposure may have affected the recently reported performance of systemically important banks.
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Sovereign Debt
20 Posts
Cyprus is ponderously pondering how to fill a gaping financial hole, including whether and how much to appropriate from its depositors, domestic or otherwise. Ohio, having solved its budget crisis, is considering a regular tax on savers and investors to broaden its tax base and prevent a recurrence of the $8.8 billion budget deficit it had eliminated over the past two years. Read more
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With the Dow flirting with 14,000, some say the big gains for 2013 may already be in unless Main Street investors are set to join the party. Which brings us to the all-consuming question: What can investors expect in 2013? Read more
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The worsening of the sovereign debt makes it necessary for EU leaders to take bolder steps to tame it. Agnes Le Thiec, CFA, examines possible options from an investor’s perspective. Read more
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Vincent Papa, PhD, CFA, examines the link between sovereign debt and bank risk; capital requirements for the banking industry; the need to improve transparency for derivatives; and other systemic risk issues relating to banks. Read more
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As the debt crisis worsens in Spain and Italy, increasing the likelihood of a partial breakup of the eurozone with disastrous consequences, a draft report discussed in European Parliament urges Member States to seriously consider two tools: the issuance of common short-term debt in the form of eurobills and the set-up of a European Redemption Fund (ERF). Agnes Le Thiec, CFA, examines the proposal. Read more
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CFA Institute member feedback cited in European Commission report on eurobonds.
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While EU policy makers have taken steps on a number of fronts to strengthen financial and institutional frameworks, it has failed to reverse the current trend of “financial disintegration” of EU markets. Read more
2 Comments Jim Allen, CFA, examines capital flows between member states and the headaches and fissures they are creating within the Eurozone. Read more
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