Neil Unmack is a Reuters Breakingviews columnist based in London. He covers credit markets, hedge funds, and Italy. Previously he was a corporate finance reporter at Bloomberg News in London. He started his career as a financial journalist in 2001 at Euromoney Institutional Investor, where he covered structured finance for EuroWeek magazine. He was educated at Eton College and Oxford University, graduating with a first class degree in modern languages. Follow Neil on Twitter @unmack1
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Athens’ threat to leave its bailout programme sent its yields shooting up. The euro zone central bank relaxed its collateral requirements for Greek lenders, but the assistance is contingent on Greece toeing the line. The tension isn’t over.
Brussels hawks will be grudging about Matteo Renzi’s first budget. The prime minister’s plan flouts Italy’s fiscal targets and barely stays within the deficit limit. But times are tough. Renzi needs help with reforms and Italy needs stimulus. The budget just about passes muster.
The American group has cooled on a $55 bln bid for its UK-listed peer. The change of heart was prompted by U.S. opposition to “inversions.” That shows how much, despite AbbVie’s earlier protests, this deal was driven by tax. A recut takeover looks unlikely.
- Hedge fund boss serves up arbitrage opportunity
- Luxottica needs a soap-opera discount
- EU securitisation tweaks miss the point
- Solving Too Big to Fail just got a lot easier
- ECB may find that senior risk can be dangerous
- ECB keeps hands free with proxy QE
- ECB can stomach Greek junk risks