15 per cent or 47 points at 4,317

October press conference

Comment Columnists Columnists Anjana Ahuja Janan Ganesh John Gapper David Gardner Chris Giles John Kay Roula Khalaf Edward Luce Jurek Martin Wolfgang Munchau David Pilling Ingram Pinn Lisa Pollack Gideon Rachman Martin Sandbu Robert Shrimsley Philip Stephens Lawrence Summers Gillian Tett John Thornhill Patti Waldmeir Martin Wolf Opinion Instant Insight EM Squared The Exchange Blogs Blogs beyondbrics Brussels canada goose clothing uk Blog David Allen Green FT Alphaville FT Data FT Photo Diary Gavyn Davies Larry Summers Blog MBA Blog Nick Butler Tech Blog The Exchange The World Blog Westminster Blog Letters Corrections Obits Tools Tools About Us Topics Portfolio FT clippings Alerts hub Email briefings MBA rankings FT Lexicon FT Seasonal Appeal Mobile Currency converter ePaper Executive jobs FT press cuttings Social Media hub Economic calendar Work Careers

Canada Goose Outlet Life Arts Canada Goose Outlet

Canada Goose Parka Claire Jones, the FT Eurozone economy correspondent, is in Naples for the ECB press conference and reports that security is tight as protesters gather. Canada Goose Parka

uk canada goose outlet She reports that the Carabinieri, Italy military police, and canada goose outlet hong kong the regular force are lining the streets around the Museo di Capodimonte, the venue of the governing council meeting and a former home of the region king. From her location within the walls of the former canada goose outlet toronto location palace, shouts over loudspeakers can be heard along with the whirring of helicopters. uk canada goose outlet

Naples, located in one of the poorest regions of Italy, which is mired in canada goose outlet its third recession in seven years, has a youth unemployment rate of more than 50 per cent.

The heavy police presence and street canada goose outlet store uk protests in one of the poorer regions of Italy underlined the sense of urgency facing the eurozone monetary policy makers.

Canada Goose online According to live television feeds from streets of the southern Italian city and media reports, around 400 protesters, many hooded and some wearing masks, clashed with police at midday. Police responded by firing water cannons, according to Italian news wire Ansa. Canada Goose online

canada goose uk shop Thousands of armed police have travelled down to Naples over the past 24 hours with Italy interior ministry expecting protesters from around Italy to converge on the southern Italy main city. canada goose uk shop

Hundreds of protesters wearing the black beak like traditional Neopolitan Pulchinella mask confronted police, carrying a banner decrying rising joblessness. Latest unemployment in Italy showed joblessness among young people continues to rise with 44 per cent, or www.canadagooseisverige.com 710,000, young people aged 15 to 24 years old canada goose discount uk out of work, its highest level since record began in 1977. Italy total employment rate in August was 12.3 per cent.

Before the canada goose uk press conference gets going, here are some highlights from Claire Jones FT Q on what to expect. You can read the full article here but here are what she thinks are the three main challenges for the ECB in summary:

cheap canada goose uk Size Mr Draghi hinted last canada goose outlet black friday month that the ECB would expand its balance sheet by up to towards the level last seen in early 2012. cheap canada goose uk

Scope The ECB president has already said the programme will involved a much broader set of assets than originally expected by markets.

canada goose uk outlet Criticism With inflation at less than a fifth of the ECB target of below but close to 2 per cent, there is plenty of justification for the ECB to act. But critics of the plan believe the ECB is taking too much risk on to its balance sheet, with some canada goose outlet london uk going as far as to say its is creating a bad bank. canada goose uk outlet

The ECB action will revive the origination of ABS, but there is not enough asset backed securities for the ECB to buy in the market it a fraction of the euro government bond market. So it unlikely to make any difference in the very near term.

The ABS market is important for to the real economy but the transmission mechanisms to enhance credit in the euro area is broken. The bottom line is that banks are facing challenges on the regulatory front which is impeding the transmission mechanism to the economic activity.

A combination of ABS and government bond purchases will be more effective and have a quick impact on the market and to some extent on the real economy.

cheap Canada Goose On Greek ABS, Mr Draghi says: programme, no purchases For further details, read the press notices. On euro scepticism, Mr Draghi admits are not going well this part of the world, because you have pervasive unemployment and weak economic activity can expect people to feel enthusiastic about that. cheap Canada Goose

In other parts of Europe, other people feel they are having to pay for others. But the euro is not the reason. Countries that needed reforms, would have to do them anyway. would be more costly outside the eurozone, he argues.

canada goose clearance sale Mr Draghi says the FT Claire Jones is right to point out the fall in core inflation. are closely monitoring these developments The drop in energy and food prices was the explanation for low inflation. Once the dollar prices stabilised, it was the appreciation of the US currency which pushed eurozone inflation lower. More recently, there were other factors pushing down prices such as low unemployment. long as we stay in low inflation, the more this cyclical component gains importance. canada goose clearance sale

Although Mr Draghi is being quite cagey, they note that European markets waiting for the nitty gritty as they accelerate their slide:

The FTSE Eurofirst 300 is down 1 per cent or 15 points at 1,352 points.

The FTSE 100 in London is down 0.55 per cent or 36 points at 6,520.

The Xetra Dax in Frankfurt is down 0.75 per cent or 70 points at 9,313.

The CAC 40 in Paris is down 1.15 per cent or 47 points at 4,317.

The euro, canada goose outlet store quebec meanwhile, is up 0.5 per cent to $1.2686, edging back toward its day high of $1.2691 reached earlier in the session.

This entry was posted in Uncategorized. Bookmark the permalink.