Hungary

In addition to the European economic recession exerting a drag on the rest of the world, the real threat of bankruptcy of a major financial institution can rapidly spread throughout the globe as a result of a run on the banks or the opaque…

One of the key factors behind the poor sentiment toward the euro, which was pressed to new 13 month lows in Europe today, is the challenge posed by the sovereign and bank refunding needed this year, while rating downgrades loom around the…

The US dollar has come back bid today after yesterday's rather shallow correction. Euro sellers re-emerged as the single currency approached its 20-day moving average for the first time in a couple of weeks. Although the PMIs are a bit…

A putsch, as any dictionary will tell you, refers to the violent overthrow of a government. Hungary has not been subject to that kind of action per se, but rather a more insidious grab for power. Its new constitution goes into effect…

What is becoming clearer to almost everyone is that this is now no longer simply a Euro periphery sovereign debt crisis. It has become a full blown crisis of confidence in the Euro itself.

BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance - Bloomberg Bank of America Corp. (BAC) told Fannie Mae it refuses to cooperate with the U.S. mortgage firm's new stance on loan buybacks, setting the lender up for a…

By Claus Vistesen (see source of image at end of post) I have recently spent a few days in New York talking to clients as well as sneaking in a bit of marathon watching and a visit to the Guggenheim museum. Flying across the big pond…

Whether the writedowns make investors feel relieved because of the alleged balance sheet transparency remains to be seen. However, the balance sheet woes at Erste highlights how active banks within the EU are in cross-border relationships.

Central European borrowers loaded up on cheap Swiss franc and euro loans (mainly from Austria and Switzerland) in the lead up to the credit crisis because of higher nominal rates in central Europe. When the crisis hit, these loans became…

We’ve gotten some more clarity on the Hungarian government’s housing support scheme. Due to the unprecedented strength of the Swiss franc, implementation of the FX part has been moved forward one month to September from October. The main…