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Third bank by market value as we speak. Profits falling by 98 in the Second Quarter. That is because of charges tied to its stake in portugal. Eurospped to 17 million for almost 700 million a year earlier which is below estimates. Agricole booked millions of euros in costs related to its almost 50 holding in banko is beautiful santo espiratue santo. The bank of portugal unveiled is almost 5 billion euro bailout which led to the shareholders and junior bondholders with losses. Just breaking down the charges, and a 502 million euro charge to reflect share of losses in the quarter and 206 million euro writedown to cut the value of its holding 20. Twoo zero. And otherthe banks onetime financial costs, secondquarter profit actually rose to one billion euros. Risky loans deckline. Ratio also going up as well. They say in a statement the sales as well. The background is the second worst sales just under one billion. Just under 3. 7 5 bil ....
We have our panel. Thank you so much for joining us in this great bloomberg anil of eight. The world bloomberg debate. The world needs more easing. Can the fed raise Interest Rates . The fed is probably going to raise rates this year. The expectation is to have any midyear, contrary to what is expected. The fact that the fed is going to do that is good news in and of itself. It shows that two things are moving in the right direction. Employment is up, unemployment down. And inflation is hopefully getting little signs of moving up in the right direction. We have these two indicators which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and getting the right anticipations to market operators. I think that is good news in and of itself. The consequences will be a different story. There will be side effects spillover effects, and volatility. This is unavoidable. In ter ....
He is saying, you need to fix the bank. It cannot be done by only throwing money at the situation. It is opening a flat. Lets look at the euro. Last time i checked, near an 11 year low. Priced in toward quantitative easing by the ecb. Down a by 0. 25 against the dollar. A look at oil. It has been driven by the collapse in oil prices. Prices have been under pressure. We see stimulus across the board. We had a stimulus fest yesterday. China, the central bank has been throwing money at the situation as well. Oil is lower by 0. 5 . Brent is down. Clearly, supply is still outstripping overall demand at the moment. A quick look. Not all about Central Banks that will be driving specific stocks. You have credit squeeze trading higher. They came out saying that massive removal by the centralbank has not hurt our profitability. Keep a look at these 2 stocks. Back to you. Caroline, thank you. One of the consequences of qe is overweight equiti ....
Investor. Larry summers, former u. S. Treasury secretary. Thank you for joining us in this panel debate. The world needs more of you. How difficult is it going to be for the fed to raise rates . They will probably raise rates this year. The expectation is to have any midyear, contrary to what is expected. The fact that the fed is going to do that is good news in and of itself. It shows that two things are moving in the right direction. Employment is up, unemployment down. And inflation is hopefully getting little signs of moving up in the right direction. We have these two indicators which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and getting the right anticipations to market operators. I think that is good news in and of itself. The consequences will be a different story. There will be side effects spillover effects, and volatility. This is unavoidable. In terms of the sheer raising interest, it is clearly a good ....
Investment officer of bridgewater. Ana botin, chairwoman of banco santander. Larry summers, former u. S. Treasury secretary. Thank you for joining us in this great Bloomberg Panel debate. The world needs more easing. Christine lagarde, let me start with you. The world needs more easing. How difficult is it going to be for the fed to raise rates . The fed is probably going to raise rates this year. Our expectations of the imf is that to happen in midyear than the end of 2015, contrary to what is expected. The fact that the fed is going to do that is good news in and of itself. It shows that two things are moving in the right direction. Employment is up, unemployment down. And inflation is hopefully giving little signs of moving up in the right direction. With these two indicators, which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and giving the right anticipati ....