Markets always send the signal of risk or euphoria first, either by launching or shrinking bond spreads respectively and long before rating agencies start one by one and slowly downgrade the credit rating of the country which is under consideration. It is common for Big-Four Rating Companies – Fitch Ratings, Moody’s, Standard & Poor’s, DBRS
It is the Social Security Funds that pay the pensions and pay the health benefits offered by third parties to their insured persons. This is achieved because of the social security contributions paid by insured persons, employers and in some cases by the State respectively throughout the working life of insured persons. Social Security Contributions
The indications to date for the euro area economy raise reasonable concerns, increasingly removing the scenario for a recovery of its V-shaped economy and increasingly approaching the scenario of slow and uneven K-shaped growth. At the same time, the governments of the euro area member countries are particularly concerned about the further recession that the
Earlier this week the revelations of the International Consortium of Investigative Journalists and in collaboration with Buzzfeed on the content of Fin Cen files and always on the laundering of astronomical amounts for more than twenty years by the largest banks in the world gave the “charismatic shot” to stock market indices that over the
The European Central Bank (ECB) recently published data on the borrowing rates of households, businesses and the overall long-term borrowing costs respectively for both the Euro area and each of its member countries (Source: ECB, https://data.europa.eu/euodp/en/data/publisher/ecb). What continues to trouble us from the graphs below is the fact that a Eurozone of different speeds appears
2020 will be a landmark year for countries whose large part of their GDP composition is based on the product of tourism and the environment respectively, concepts that are causally linked. The Covid-19 pandemic caused a profound decline in the GDP of these countries due to the loss of revenue from their tourism product. It
The Crisis of the Turkish Lira is a direct consequence of the crisis of the Turkish Economy. The fall of Turkey’s national currency continues. In 2016 and specifically before the effort to established a coup in Turkey, the Turkish lira and $USD exchange rate was at USDTRY: 2,93 (June 10, 2016) while last week it
The decision of the Brussels summit is historic given that European leaders have agreed to borrow together on an unprecedented scale for historical data. On 21 July, after five days of continuous consultations, European leaders (27) decided to strengthen the euro and sink spreads, creating a climate of euphoria for investors. However, doubts remain as
The Philippine economy has so far shown a high degree of resilience to the economic crisis that has hit the planet, both in developed economies and in the economies of developing countries due to the Covid-19 pandemic. The stability of the Philippine currency against the $USD shows its due to the truth as to the
