News and Analysis

Printer-friendly versionSend to friendPDF version

STATEMENT OF THE MEMBERS OF THE EUROPEAN COUNCIL 30 JANUARY 2012

TOWARDS GROWTH-FRIENDLY CONSOLIDATION AND JOB-FRIENDLY GROWTH

Copula Dependence Structure on Stock Market with Application to Risk

Copula Dependence Structure on Stock Market with Application to Risk

Bayesian Methods in Portfolio Credit Risk Management

Bayesian Methods in
Portfolio Credit Risk Management
A dissertation submitted to the
SWISS FEDERAL INSTITUTE OF TECHNOLOGY
ZURICH
for the degree of
Doctor of Sciences
presented by
JONATHAN ERIK PURVIS WENDIN
MSc. Engineering Physics KTH
born 17 April 1978
citizen of Sweden
accepted on the recommendation of
Prof. Dr. Alexander J. McNeil, examiner
Prof. Dr. Peter L. Bühlmann, co-examiner
Prof. Dr. Philipp J. Schönbucher, co-examiner

Basel III liquidity standard and strategy for assessing implementation of standards

The GHOS endorsed the Committee's comprehensive approach to monitoring and reviewing implementation of the Basel regulatory framework. GHOS Chairman and Governor of the Bank of England Mervyn King noted that "the focus on implementation represents a significant new direction for the Basel Committee. The level of scrutiny and transparency applied to the manner in which countries implement the rules the Committee has developed and agreed will help ensure full, timely and consistent implementation of the international minimum requirements".

European Disunion indecision 2011

Inside the French ambassador's 19-bedroom mansion, finance ministers and central bankers from the world's largest economies heard Dominique Strauss-Kahn, then-head of the International Monetary Fund, deliver an ultimatum. Greece, the country that triggered the euro-zone debt crisis, would need a much bigger bailout than planned, Mr. Strauss-Kahn said. Unless Europe coughed up extra cash, the IMF, which a year earlier had agreed to share the burden with European countries, wouldn't release any more aid for Athens.

9 December 3 AM: Statement by euro area heads of state or government

The European Union and the euro area have done much over the past 18 months to improve economic governance and adopt new measures in response to the sovereign debt crisis. However, market tensions in the euro area have increased, and we need to step up our efforts to address the current challenges. Today we agreed to move towards a stronger economic union. This implies action in two directions:

- a new fiscal compact and strengthened economic policy coordination;

- the development of our stabilisation tools to face short term challenges.

European Commission Green Paper on the feasibility of introducing Stability Bonds - Official Version

Brussels, 23 November 2011

European Commission Green Paper on the feasibility of introducing Stability Bonds

Will Merkel Change Her Tune on Stability Bonds?

Stability bonds. That is the new moniker given by the European Commission to euro bonds as it moves toward presenting its most definitive proposal yet for the debt pooling measure on Wednesday.

Indeed, European Economic and Monetary Affairs Commission Olli Rehn was in Berlin on Tuesday to tout Brussels' three-option studyon how bonds issued jointly by the 17 euro-zone member states could help stem the debt crisis.

Niall Ferguson on United States of Europe 2021

Niall Ferguson, Professor of History at Harvard University, has written a tendentious new book, “Civilization,” which asserts, with similar certainty, that we are now living through “the end of 500 years of Western predominance,” that while China is on the rise, the question is not whether East and West will clash, but whether “the weaker” — that is, the United States and Europe — “will tip over from weakness to outright collapse.”

What price the new democracy? Goldman Sachs conquers Europe

This is the most remarkable thing of all: a giant leap forward for, or perhaps even the successful culmination of, the Goldman Sachs Project.

Read the article here: http://www.independent.co.uk/news/business/analysis-and-features/what-pr...

Cutting Eurostat to Pieces

The present writer took up his Eurostat post in March 1991, right after Desert Shield. He was told then that Eurostat "had no right" to publish economic analyses and those instructions were repeated from time to time ever since. No Eurostat publication that he has seen contained any fruits of the officially forbidden research.

And then, after two decades he receives this message from the pinnacle;

Flash estimate for the third quarter of 2011: Euro area and EU27 GDP up by 0.2%

GDP increased by 0.2% in both the euro area (EA17) and the EU27 during the third quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union.

In the second quarter of 2011, growth rates were +0.2% in both zones.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.4% in both zones in the third quarter of 2011, after +1.6% in the euro area and +1.7% in the EU27 in the previous quarter.

US Bank exposure to PIIGS

Five US banks have released some data (SEC filings) of their exposure to PIIGS.

Source WSJ

Economist: Europe's deepening crisis

Autumn forecast 2011-13: Growth at a standstill

Commission Vice-President for Economic and Monetary Affairs Olli Rehn said: "Growth has stalled in Europe, and there is a risk of a new recession. While jobs are increasing in some member states, no real improvement is forecast in the unemployment situation in the EU as a whole. The key for the resumption of growth and job creation is restoring confidence in fiscal sustainability and in the financial system and speeding up reforms to enhance Europe's growth potential.

ECB Overnight Deposits 2011 (statistics)

Lenders increased overnight deposits at the European Central Bank to the highest level in more than 16 months.

Banks parked 299 billion euros ($412 billion) with the Frankfurt-based ECB yesterday, up from 288 billion euros on Nov. 4. That’s the most since June 30, 2010, and compares with a year-to-date average of 71 billion euros.

ECB Overnight Deposits 2011

The big fat Greek Drahma

Yesterday, Giorgos Papandreou was at the center stage for

EZ politix is not a Western movie

did the Greeks call the referendum because they had advanced intelligence that the #EFSF would not be able to raise a cent?

Windows Server 8

Microsoft has not announced a ship date for Windows Server 8, although roadmap documents released some time ago pegged it for 2012 (earning it the nickname of Windows Server 2012). A developer's preview of Windows Server 8, including Hyper-V, was made available during Microsoft's BUILD conference in Anaheim, Calif., in September.

Much more than a minor upgrade, Windows Server 8 brings many new features and functionality. The software is currently a Developer Preview release. This means Windows Server 8 isn't even available for beta testing yet.

Biggest credit crunch bankruptcies so far in US

Update: 1 November 2011.

Two years have passed since the first list was compiled here at Asymptotix. Now with MG Global Chapter 11 filing, we though it's time to update the list (including pre-credit crunch):

1) Lehman Brothers Holdings, September 2008: $691 billion in assets

2) Washington Mutual, September 2008: $327.9 billion

3) WorldCom, July 2002: $103.9 billion

4) General Motors, June 2009: $91 billion

5) CIT Group, November 2009: $80.4 billion

6) Enron, 2001: $65.5 billion

7) Conseco, 2002: $61.4 billion

My first contribution to Drupal.org

I made my first contribution to Drupal.org.

It concerns redirections of login. Login destination is a useful module for redirecting users after they logged in. You can redirect depending on roles, but I needed rules depending on which node the visitor was entering from.

http://drupal.org/node/418488#comment-5185866

Flash estimate October 2011: Euro area inflation estimated at 3.0%; unemployment at 10.2%

Euro area annual inflation is expected to be 3.0% in October 2011 according to a flash estimate issued by Eurostat, the statistical office of the European Union. It was also 3.0% in September.

Eurostat also estimated September 2011 Euro area unemployment rate at 10.2% and EU27 at 9.7%.

Who is the biggest clown of the Credit Crisis? Vote now!

Thanks to @centrifugen I came across a poll on a Swedish site: who is the biggest clown of the Credit Crisis?

Thought we should have our voice heard so please cast your vote here: http://www.asymptotix.eu/content/who-biggest-clown-credit-crisis

G-20 Summit Cannes 3-4 November 2011

Presidents Barroso and Van Rompuy shared their views in advance of the summit in a letter sent to the other members of the European Council on 7 October 2011 (see MEMO/11/678). The European Council on 23 October is set to finalise EU preparations of the G-20 summit.

What is Drupal - presentation

Last week I made a presentation "What is Drupal?" to a group of Sharepoint developers. It was quite interesting to see how they reacted and the discussion was intense!

I have added the presentation here, save from a few slides I had to delete due to the contents that would reveal the back-end set-up of the client. Download it or read it directly here at the bottom!

The errors are manifold - Sarkozy: Greece should not have been in the eurozone - Soros: Same goes with Italy

French President Nicolas Sarkozy has said it had been an error to admit Greece to the eurozone in 2001 but said he was confident the country could emerge from its debt crisis.

George Soros went even further and said that it was wrong that Italy joined too.

The EBA details the EU measures to restore confidence in the banking sector

EBA: 26 October 2011

Official version: Main results of Euro Summit

Secure the decline of the Greek debt to GDP ratio with an objective of reaching 120% by 2020. Euro area Member States will contribute to the PSI package up to 30 bn euro. The nominal discount will be 50% on notional Greek debt held by private investors. A new EU-IMF multiannual programme financing up to 100 bn euro will be put in place by the end of the year. It will be accompanied by a strengthening of the mechanisms for the monitoring of implementation of the reforms

EUROZONE SUMMIT: METRIC OF SUCCESS

Understanding what a Central Bank is for / The Boundaries of European Financial Institutional Architecture

WHAT IS THE METRIC OF SUCCESS OF THE FINAL EUROZONE SUMMIT CONCLUSIONS ?

Crisis Mis-Management in Brussels! They sure aint doin it by the book!

Crisis Mis-Management in Brussels!
They sure aint doin it by the book!

Follow @asymptotix

Are the key legislative pillars such as Basel II & III, UCITS IV and Solvency II forcing you to re-examine how you identify, measure and manage risk and capital?

Asymptotix work closely with our partners to help clients develop a more proactive, systematic and integrated approach to governance and risk management to deliver proper value.

Asymptotix can offer the support you need to deliver on time. Read more...

Is the goal of your website to sell services or products, educate, or collect data?

A positive customer experience is vital to conversion, no matter what your conversion goals may be. Our designers and developers will create a positive experience to maximize your conversions and deliver the optimal return on your investment. We strive to find the perfect balance between the web site’s design and functionality.

Asymptotix implements interactive solutions for European companies. From corporate websites to social communities, our clients will tell you an investment in building a scalable online experience will deliver long-term tangible benefits.

Based in Luxembourg we can help you all over Europe. Our multi-lingual team can work with projects and speak your language! Read more...

hits counter