Announcements

    Drinks

      Hungary: fiscal outlook hinges on economic recovery and spending discipline

      22/10/2025 Research EN

      Hungary: fiscal outlook hinges on economic recovery and spending discipline

      With only slowly recovering economic growth and structurally high interest costs, Hungary needs sustained fiscal discipline to ensure budget deficits narrow gradually and debt-to-GDP stabilises before and after parliamentary elections due next spring.

      Nominate Scope at GlobalCapital’s European Securitization Awards 2026

      21/10/2025 Research EN

      Nominate Scope at GlobalCapital’s European Securitization Awards 2026

      GlobalCapital’s call for nominations for its European Securitization Awards 2026 is now live.

      Europe’s digital finance transformation: implications for financial autonomy and market resilience

      21/10/2025 Research EN

      Europe’s digital finance transformation: implications for financial autonomy and market resilience

      Aligning the tracks of Europe’s digital finance landscape will reinforce the euro’s global role, increase resilience against economic fragmentation and enhance European autonomy. Slow movers among European banks could face revenue and funding pressures.

      EU’s complex plan to unlock frozen Russian assets is vital for financing Ukraine

      21/10/2025 Research EN

      EU’s complex plan to unlock frozen Russian assets is vital for financing Ukraine

      The European Commission (EC) has prepared an innovative if complex plan to mobilise seized Russian assets to fund Ukraine. This initiative is critical given the absence of any credible alternative for providing sustained financial support.

      Norwegian savings banks: equity capital structure proposals will have limited credit implications

      16/10/2025 Research EN

      Norwegian savings banks: equity capital structure proposals will have limited credit implications

      Less dilution of equity capital certificates issued at a discount to book value would support savings banks’ credit profiles, but maintaining the cap on ECC holder representation on supervisory boards could have negative implications.

      Spain’s renewable energy push risks running into reliability, pricing, investment obstacles

      15/10/2025 Research EN

      Spain’s renewable energy push risks running into reliability, pricing, investment obstacles

      Spain needs to encourage more investment in its electricity grid and storage capacity by allowing utilities to earn higher returns while ensuring growing volumes of renewable energy do not distort market pricing.

      Slovakia: increasing consolidation fatigue challenges medium-term fiscal sustainability

      8/10/2025 Research EN

      Slovakia: increasing consolidation fatigue challenges medium-term fiscal sustainability

      Slovakia’s government is continuing efforts to reduce the budget deficit despite sluggish growth but the risk of missing targets amid worsening fiscal fatigue is rising. Use of temporary measures raises doubts over the durability of the adjustments.

      European electricity: Germany, Netherlands, Belgium grapple with EUR 200bn-plus grid capex challenge

      7/10/2025 Research EN

      European electricity: Germany, Netherlands, Belgium grapple with EUR 200bn-plus grid capex challenge

      Germany, the Netherlands and Belgium need far more investment to modernise their electricity transmission grids through 2034 than southern European countries, hence the importance of having secured most of the EUR 200bn-plus in required funding.

      Poland: fiscal slippage contained by EU financing; political divides impede budget consolidation

      2/10/2025 Research EN

      Poland: fiscal slippage contained by EU financing; political divides impede budget consolidation

      Poland’s structurally embedded spending increases and wider budget deficits highlight its fiscal vulnerabilities as institutional gridlock hampers any durable adjustment. Yet resilient growth and EU financial support are containing debt-servicing costs.

      European CRE/CMBS: retail leads the way in loan repayments, signalling improved fundamentals

      2/10/2025 Research EN

      European CRE/CMBS: retail leads the way in loan repayments, signalling improved fundamentals

      Almost EUR 1.9bn has been repaid from 13 securitised CRE loans in 2025. This is below EUR 7.1bn of issuance, but the decrease in delinquent loans from 37% in 2024 to 21% offers some comfort around the performance and fundamentals of underlying properties.