Bank customers in Cyprus, which agreed to a 10 billion euro ($13 billion) bailout today, may line up to withdraw money when savings institutions reopen, Holger Schmieding, chief economist at Berenberg Bank, said.
Central bankers once kept money- supply measures atop the list of indicators they monitored when managing the economy.
“Europe is probably going to fall into recession in the fourth quarter,” said Holger Schmieding, chief economist at Joh. Berenberg Gossler & Co. in London.
German business confidence fell to the weakest level this year amid signs of slower growth in Europe’s largest economy.
"Hollande has taken the side of the reformers but it is only a modest step."
- Holger Schmieding on Aug 27, 2014
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