Eric Chaney , chief economist for the AXA Group and the former chief economist for Europe at Morgan Stanley, comments on Japan’s economy and the equities market after the nation’s biggest-ever earthquake.
The major battle in the fight for the survival of the euro will be fought on Spanish soil. Greece, Ireland and soon Portugal should be regarded as skirmishes. But Spain is different, in terms of scale and solvency.
European officials are outlining a rescue plan that may include deeper investor losses on Greek bonds, higher bank capital levels and increased firepower for bailouts and the International Monetary Fund.
The squabbling over Greece’s future in the euro zone may push Europe’s economy into recession and reduce companies’ ability to compete internationally, according to executives of some of the region’s biggest corporations.
A top lobbyist for France’s largest bank says European lawmakers will have only themselves to blame if pressure to bolster capital too quickly results in more Boeing Co. planes at the expense of European rival Airbus SAS.
A court’s rejection of President Francois Hollande’s 75 percent millionaire tax shows the limits on his ability to tap high earners, even as the ruling is unlikely to attract investors and executives back to France.