https://twitter.com/Schuldensuehner/status/1463060958075662340 Good morning from #Germany where German banks have direct financial exposure to #Turkey of at least €8bn down from $21bn in 2013, acc to BIS. €2.4bn exposure to Turkish banks at stake. Sounds like low risks. But banks from #Spain and #France way more vulnerable to Turkey rout. https://t.co/5PaVxZsJ5D via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1465279648900784129 #Spain’s #inflation accelerates to the fastest in nearly 30yrs on rising food prices, underscoring the lingering consequences of supply bottlenecks across the continent. CPI jumped 5.6% in Nov, highest since Sep1992, exceeding expectations of 5.5%. https://t.co/98BMfOlYtk https://t.co/povRsUDs1S via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1480444702570786816 OOPS! Target2 claims of Bundesbank on the rest of Eurosystem hit fresh ATH at €1.26tn amidst QE. Claims have risen by a record €133.2bn in Dec, meaning substantial risks for #Germany. Previous record in Dec2020 had been €1.136tn. Liabilities of #Italy & #Spain together >€1tn. https://t.co/g1QUdQrU9F via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1481916935755476994 #Germany grew 2.7% in 2021, held back in Q4 by supply snarls and fastest #inflation in 3 decades. That’s in line w/expectations but far behind #France, #Italy and #Spain, which will report expansion of 4.5% or more later this month. GDP is expected to have contracted in Q4 QoQ. https://t.co/V6cO7GboSt via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1491327997001203719 Global stocks rebound as govt debt sell-off pauses w/European stocks & US Futures higher. #Spain's Ibex now in green YTD. US 10y yields drop by 3bps to 1.93%, Italy's 10y drops 6bps to 1.78%. Cryptocurrencies do not benefit from Risk On move w/#Bitcoin $43.3k. Gold unch at $1827. https://t.co/vMHIl7yqPN via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1498602814876049408 OOPS! #Italys's (HICP) #inflation surged to a record for 3rd straight mth, heaping more pressure on ECB after higher-than-expected readings from #Spain & #France. CPI jumped 6.2% YoY in Feb way above 5.5% expected, mainly driven by energy w/costs soaring 27.3%. (via BBG) https://t.co/ejpvlyYTJY via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1509840657694744577 #Eurozone inflation accelerates to another all-time high. March consumer prices jumped 7.5% YoY vs 6.7% expected. Overshoots in #Spain and #Germany have spurred rate-hike bets as even core #inflation tops 2% target by 50%. https://t.co/XYqBTFV2n9 https://t.co/EAdEzlKc7H via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1529012329135935488 As #Spain's PM Sanchez speaks in Davos about solidarity w/Ukraine at #wef22, an exciting figure from Spain: Spain's April hotel prices Up 29.5%. https://t.co/SAOs3uRc8I via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1529016930920800256 Spain's Sanchez at #wef22: #Spain will soon implement price caps on gas https://t.co/bGq5jFs0ul via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1531174432475070464 Spanish #inflation unexpectedly quickened, denting hopes that #Eurozone’s record price surge is peaking and piling more pressure on the ECB to act. Consumer prices jumped 8.5% in May vs 8.3% expected. #Spain’s core inflation quickened to 4.9%. https://t.co/BOkO14gPCV via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1531250305693798401 European Bonds crater w/#Italy 10y yield jumps 13bps to 3.02% after latest #inflation numbers. #Germany's inflation hit fresh ATH, and #Spain's inflation unexpectedly accelerated! https://t.co/ZiVKEtCnum via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1531306847705174016 After negative #inflation surprises out of #Germany and #Spain markets are pricing in 114bps of #ECB interest rate rises in 2022. https://t.co/Lre6HRxbmk via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1542124054328623104 While German CPI surprises to the downside, #Spain's inflation unexpectedly surged to a record 10.2%. The surprise 10% reading for June dashes hopes that inflation in the Eurozone’s 4th-biggest econ had peaked & highlights how a squeeze on consumers is intensifying. https://t.co/OJRSiW4dHN via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1552554466775269377 Good Morning from #Italy, which is obviously not doing so well with the #Euro. Since the introduction of the single currency, Italians' wealth per capita has barely not increased, while GDP per capita in #Germany has risen by 29% and GDP per capita in #Spain by 19%. https://t.co/ylgmjhR5dY via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1564522933942370304 #Spain’s #inflation eased for the first time in 4mths but remains double digit, & surging energy prices as Russia limits supplies before winter mean respite will likely be short-lived. EU-harmonized CPI rose 10.3% YoY in Aug, slowing from July’s record 10.7% increase. (BBG) https://t.co/STN1Tw10Fg via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1586247250224721920 Good Morning from #Germany, where supermarket prices are rising much faster than in other Eurozone countries. German Food CPI jumped 20.3% YoY in Oct, the highest food price #inflation since the start of the statistic. In #Italy, food inflation is just 13.8%, in #Spain 14%. https://t.co/OIJp64rxa9 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1597875752720281600 Good Morning from #Germany, where supermarket prices keep rising. German Food CPI jumped 21% YoY in Nov, the highest food price #inflation since the start of the statistic & way higher than in other Eurozone countries. In #Italy, food inflation is just 14% & in #Spain 16%. https://t.co/s8Rn5CzV5d via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1607807934397808650 #Spain unveils €10bn package of anti-inflation measures. Measures include extension of tax breaks, new aid for families. Sales tax on staples such as bread, milk, cheese, fruit & vegetables will be cut to 0 from 4%, levy on oils and pasta to 5% from 10%. https://t.co/KQGAeDeFvj https://t.co/cMQmPHdim5 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1630479470158028802 OUCH! Pressure on #ECB remains high as more #inflation disappointments rolling in. In both #Spain and #France, consumer prices have risen more than feared. Spain Harmonized CPI 6.1% YoY in Feb vs +5.7% expected. France 7.2% Harmonized CPI 6.1% YoY in Febvs 7% expected. https://t.co/Aoclsve9vV via @Schuldensuehner

#Germany’s new era of big spending is driving up borrowing costs across Europe, sparking fresh concerns about fiscal stability—especially in highly indebted countries like #France, #Italy, #Greece, #Spain, and #Portugal. https://t.co/PXK2yYRtn0 https://t.co/cNvuwMXGzd
— Holger Zschaepitz (@Schuldensuehner)
Mar 21, 2025