Holger Schmieding

Holger Schmieding is chief economist at Berenberg Bank in London. [United Kingdom] Follow him @Berenberg_Econ

German Politics: It Could Have Been Worse

The centre-right CSU and the centre-left SPD lost the state election in Bavaria. This spells some trouble for Angela Merkel’s CDU/CSU-SPD coalition in Berlin.

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Will Italy’s Finances Shake Europe?

Five Star leader Di Maio still has not learned that comments which may go down well during an election campaign can easily backfire for a senior politician in office.

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EU Summit: Too Early for a Brexit Deal

UK politicians should not overrate the current attempt by the EU27 to be nice to Theresa May.

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Turkey’s Next Challenge: How Bad Can Inflation Get?

How Turkey’s central bank plans to regain market confidence that it will eventually hit its 5% inflation target again remains a mystery.

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Germany Finally Fit for the Euro

German fiscal bliss: Debt to GDP ratio can fall to 60% this year.

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How Big Is the Turkish Contagion Risk for Emerging Markets?

Contagion from the Turkish crisis to other emerging markets is not widespread.

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Options for Turkey

What the Erdogan government must do if it wants to avoid a “cold Turkey” economic shock.

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Italy and the Populists: Heading for an Even Hotter September?

It may take a further rise in Italian bond yields to remind the populist government’s leaders in Rome that their room for maneuver to operate with more debt is very limited.

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The Sad Irony of Brexit

Though UK voters have changed their tune on Brexit, there is little chance that it will be reversed.

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Six Ways How Trump Gets Trade and Europe Wrong

What Europe earns by selling goods to the U.S., it spends on licensing fees for U.S. technology and on U.S. services. Nothing unfair here.

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