Search this website. You can use fund codes to locate specific funds

Ahead of the curve: Euro-zone - time for Plan B...
  • The ECB’s decision to extend, but taper, its QE does not herald an
    early tightening of policy. The main policy (deposit) rate is likely to
    stay negative in 2017, & the fiscal side should be activated.
  • While helpful in addressing the symptom, deflation, Mr Draghi
    cannot alone be expected to solve the underlying problem - a
    monetary union devoid of economic union. This will take years.
  • We update our Competitiveness Analysis to highlight the progress
    so far. Despite improvement at the euro-wide level, shifts in
    individual members’ competitiveness are still too disparate.
  • After a decade of deterioration, Italy & Spain’s positions have
    improved significantly since austerity. But, while encouraging, it
    brings economic & social costs, with reform-fatigue building.
  • So, with 2017 such a highly-charged political year in Europe, any
    contagion - unlike 2008 - is more likely to be political rather than
    financial. And, with the monetary engine already overloaded, it
    looks time to also crank up the fiscal side...

Related articles

European elections in an era of economic and political disruption
Taking a localised approach to engagement
Seeds of change
Macro Watch
Amplified: European legislation puts shareholder responsibilities under the spotlight
Animal proteins – the scarcity challenge

Sales contacts

Angelo Natale, Director - Business Development, Italy
Paul Voute, Head of European Business Development