Welcome to Morning Macro on Friday, 10 February:
Today, we kick off on the line to Geneva where Frederik Ducrozet, Economist in charge of Europe at Pictet Wealth Management, talks Tom through some figures coming out of Germany, a ‘reality check’ on Eurozone optimism – and gives us a pointer on Italy and how to tell if the Eurozone crisis is coming back.
In today’s second interview Sigrún talks to Jeromin Zettlemeyer, this time about the New Global Safety Net, i.e. how to safe countries in times of crisis now that the IMF no longer has a monopoly on that role. The more complex new net is to a certain degree more stable than the old one but not entirely so. With Ducrozet’s words on the Eurozone it’s interesting to note that Zettelmeyer doesn’t think enough lessons were learnt from the European crisis.
Also a look at the week to come.
Music by longzijun