08 May 2014

EIM Member States - April 2014

• More evidence had come from the City that 'Brexit' would be very damaging to the UK – and also to the EU.

• The new French Government’s hints about taking longer to control its budget deficit immediately ran into trouble from Europe – underlining concerns about France’s policies.

•  In contrast, Spain received warm words from the Commission, ECB and OECD.

• Similarly, Portugal was praised – cautiously - as it issued ten year bonds in the open market and prepared for a clean programme exit.

• Greece issued five-year bonds amidst recognition of the huge steps already made but the rise of political extremism is a cause for concern.

• Cyprus seems to be well on track with its programme.

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© Graham Bishop