The State of the Credit Markets: Part 1. The Curious Case of the Euro Zone
“The euro zone is caught in the middle of two opposing forces,” said Alberto Gallo, head of European Macro Credit Research for Royal Bank of Scotland (RBS) and a featured speaker at the Global Association of Risk Professionals (GARP) webinar “The State of the Credit Markets” on November 15, 2012. He was referring to the forces both “positive” (European Central Bank liquidity and low interest rates) and “negative” (heavy debt and increasing fragmentation) in the euro-zone financial markets. Gallo pointed out that, in the last 20 years, banking in Europe has grown tremendously. At €35 trillion, bank assets are now […]
Implications of the Euro Zone Crisis
When it comes to financial debt in the Euro Zone, “deleveraging has barely begun,” said Daniel Wagner, author and risk consultant. “It’s a long and winding road.” On August 7, 2012, Daniel Wagner, CEO of Country Risk Solutions, a US-based cross-border risk management consulting firm, addressed a Global Association of Risk Professionals (GARP) audience about the Eurozone crisis. Wagner, author of Political Risk Insurance Guide, and Managing Country Risk, published in 2012, spoke on a range of related topics. Wagner’s talk was far-ranging and comprehensive (78 slides in 45 minutes). He spoke about the impact of debt: in particular, the effect […]