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Eurowrap 13/07/12

A focus on the key news and analysis surrounding the eurozone crisis

Clarifying the unremarkable shift in ECB deposits

Why money is disappearing from the European Central Bank’s deposit facility, and why it doesn’t mean it's being put to good use.

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Marshall Auerback: the pain in Spain

Capital outflows are accelerating, and the VAT rise is good for more-or-less nothing.

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The euro disaster is about more than just current account imbalances

Unsurprisingly, there isn’t a simple explanation.

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Negative interest rates and the currency war

Has a new front opened up?

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