In its Global Financial Stability Report (GFSR), released yesterday, the IMF warned that the sovereign debt crisis in Europe has reduced the value of European banks’ holdings by between €200bn - €300bn since early 2010. The report called for an urgent recapitalisation of European banks, although stopped short of putting an exact figure on how much this would cost.

Before we continue with our series on the future role of the state here some information about a significant development. Today a campaign for Britain to join the Euro was launched. Find more information about this here: The campaign has also published a new report making the case for Britain joining the Euro. The publication brings

Before we continue with our series on the future role of the state here some information about a significant development. Today a campaign for Britain to join the Euro was launched. Find more information about this here: Tha campaign has also published a new report making the case for Britain joining the Euro. The publication brings

Far from damaging US airlines, the EU’s Emissions Trading Scheme (ETS) could deliver it a €2 billion windfall profit, according to a new report by a US Federal Aviation Administration-funded group of academics. More »

Open Europe’s report on the EU’s AIFM Directive continues to receive coverage. The report, published yesterday, found that the hedge fund and private equity industry contributed €9 billion in tax revenues to EU governments in 2008, and that the proposed Directive would cost EU-based firms in the two industries between €1.

I've been blogging a while, predicting various market moves. My favourite one of these is undoubtedly the sinking value of the Euro versus all other currencies. The last two months have seen the Euro moving the other way, rising a little against the dollar. But the underlying weakness of the Euro is about to send it reeling. I am posting two charts here, one showing how the euro is moving int...

There seem to be lots of people out there who think the euro is about to collapse. They talk about Greece or Italy leaving or of Germany leaving or the creation of 'hard' and 'soft' euro zones. I beg to differ. Let me explain. There is one thing that people in the Anglosphere often fail to understand: euro-federalists are euro-fanatics. They (the euro-fanatics) seriously believ...

Meanwhile, a report by Open Europe found that the plans by Germany and France to introduce a financial transaction tax (FTT) could raise a total €80.9bn – of which €58.3bn would come from UK-based businesses. That is of course the statutory incidence, not the economic incidence. But I do very much doubt that even Cameron

In 2001 the then Goldman Sachs economist Gavyn Davies reportedly told Tony Blair that he should "wait for the dollar to fall and the euro to rise,” before thinking about joining the Euro. Seven years on and the foreign exchange markets have duly obliged and we find Sterling at its lowest ever level against the Euro. Many Europhiles have long argued that joining the Euro would help the UK by ...

In 1999 a Euro was worth 71p. Between 2000 and 2002 it was around 60p. From 2003 to 2008 it fluctuated around 65-70p, just a bit below its first issue price. From 2008 the Euro took off against a falling pound, going above 90p. Since March 10th 2010 the Euro has been in freefall, and