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News tagged with „Public bond“

  • 5 News

June 2015

16.06.2015 – ZEW (cfu/fkr/jpr)

Statement of ZEW President Professor Clemens Fuest: The ECJ Is Mistaken

According to the latest decision taken by the European Court of Justice (ECJ) in Luxembourg, the "Outright Monetary Transactions"(OMT) Programme announced by the European Central Bank (ECB) in September 2012 is in compliance with European legislation. Professor Clemens Fuest, President of the Mannheim Centre for European Economic Research (ZEW), has, however, criticised this decision: "The ECJ is mistaken. The OMT Programme is designed by the ECB to support peripheral states with high levels of debt. This is a form of fiscal policy, not monetary policy." read more

January 2015

22.01.2015 – ZEW (cfu/jpr)

ZEW President Fuest on ECB Decision

The European Central Bank (ECB) has decided on the volume of its bond-buying programme: The ECB will buy eurozone government bonds and other assets worth EUR 60 billion per month until September 2016. The President of the Centre for European Economic Research (ZEW), Professor Clemens Fuest, comments: "I consider the ECB’s decision to be an acceptable compromise that is consistent with the ECB's mandate. read more

December 2013

20.12.2013 – ZEW (zil/kbo/ggr)

Special Question of the ZEW Financial Market Survey: Lower Demand for Corporate and Government Bonds in 2014

Demand for corporate and government bonds continues to dwindle in 2014. Stocks as a capital investment are likewise expected to become less attractive. By contrast, raw materials are gaining importance as investment opportunities, while the attractiveness of foreign currencies and real estate remains largely unchanged in 2014. Investors are thus expected to place a greater focus on raw materials in their investment portfolios in the coming year. These are the findings of the special question on the “Attractiveness of different asset classes in 2014” in the current ZEW Financial Market Survey. 217 financial market experts participated in the December 2013 survey. read more

June 2013

27.06.2013 – ZEW (fhe/ggr)

Countries with Weak Fiscal Reputation Benefit from Strict Budgetary Rules

Strict budgetary rules increase the credibility of countries with a low fiscal reputation. According to a study conducted by the Centre for European Economic Research (ZEW) in Mannheim, the establishment of stringent budget rules reduces government bond interest rates in these countries. The European Fiscal Compact will likely have the same effect. In this treaty, 25 states of the European Union (EU) agreed to implement new rules in their national legal systems allowing a maximum structural deficit of 0.5 per cent of GDP. A convincing new regulation to limit structural deficits will send an important signal for the future budgetary policy: If the regulation is credible, it will be an incentive for potential investors on bond markets to have confidence in the country’s efforts to perform a sustainable budgetary policy. read more

December 2011

20.12.2011 – ZEW (zil/ggr/eje)

ZEW Survey Among Financial Market Experts – Stocks Will Become More Attractive to Investors in 2012

In 2012 shares will again become more attractive to investors and corporate bonds will become more important. The demand for real estate will be as strong as in 2011, whereas sovereign bonds will lose their image as secure investments. These are the findings of a survey conducted by Centre for European Economic Research (ZEW)in Mannheim among financial market experts in December 2011. Experts were asked to assess the attractiveness of different investment classes in 2012 compared to 2011. read more


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