Institute for Research in Economic and Fiscal issues

IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom


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May’15 Financial & Fiscal Features Newsletter
Secondary US Bonds Market | Unique Bulgarian Banking Crisis

Most media optimism, both in the US and Europe, continues to focus on the dizzy levels of stock and bond markets, but in our view these index levels have been driven up by professionals front-running QE in the US and Europe.

In the past month, a Bulgarian court appointed two experts to liquidate the assets of CCB (known also by its Bulgarian initials KTB). This marked the end of a rather remarkable story that began in June 2014, when the rest of the Eurozone banking system was enjoying a period of relative calm.

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"Financial and Fiscal Features" Newsletter is a monthly publication by the IREF. It brings latest inside information from the world of central banks and financial markets, both of which are increasingly intertwined with fiscal issues.

You can find the latest issue in the .PDF file. It can be either read on your screen/e-reader or printed out. You can print it out either on normal A4 sheets or on a single double-sided A3 which can be folded to make a simple "newspaper".

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