IMF Working paper-Narrowing Vertical Fiscal Imbalances in Four European Countries-continued

April 2, 2012--This paper describes the institutional changes that have induced a decline in the vertical fiscal imbalance (VFI)- defined as the share of sub-national own spending not financed through own revenues - in four European countries: Belgium, Italy, Norway, and Spain.
The decline in VFI was achieved through progressive devolution of revenues to sub-national governments in Belgium, Italy, and Spain, while re-centralization of health sector expenditures was the cause of the decline in the VFI in Norway.

view the Narrowing Vertical Fiscal Imbalances in Four European Countries

Source: IMF

Europe ETP News
Deutsche Borse AG publishes results for Q3/2014
Net revenue in Q3 increased to €496 million / Operating costs of €266 million excluding exceptional items / Adjusted earnings per share (EPS) of €0.85 / Net revenue and EPS in the first nine months up slightly on the previous year / Clearstream passes ECB stress test
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Euronext Paris to relocate
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November 23, 2014--The Royal Bank of Scotland has accepted that it got its sums wrong over the European Banking Authority stress tests last month.
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November 19, 2014--Forecasts for the UK economy is a monthly comparison of independent forecasts.
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Euro area investment fund statistics
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Euro zone grows faster than expected in third quarter
November 14, 2014--Euro zone economic growth was stronger than expected in the third quarter, preliminary data showed on Friday, as France beat market expectations and Germany steered clear of a recession.
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ECB's Noyer: 'no problem' buying govt bonds if needed
November 13, 2014--European Central Bank Governing Council member Christian Noyer said he saw no problem with buying government bonds if interest rates rose or if the European economy suffered new shocks that derailed inflation forecasts.
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UBS GAM launches 0.09% US equity tracker
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Russian central bank cuts growth forecasts, sees sanctions until 2017
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ESMA consults on revised EMIR standards on the reporting to trade repositories
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ETFGI's research finds ETFs/ETPs listed in Europe gathered 8.7 billion US dollars in net new assets in October 2014 and a record 56.2 billion US dollars in NNA year-to-date
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Passive investment set to double by end of decade
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Invesco targets Europe for ETF expansion
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France tries to salvage 'Tobin' tax
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UK Official holdings of international reserves: October 2014
November 5, 2014--This monthly release shows details of movements in the UK's official holdings of international reserves, or assets.
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Record trading levels for volatility derivatives in October
New all-time monthly volume record of around 1.5 million contracts
November 5, 2014--International derivatives market Eurex Exchange reached a number of trading records in the volatility derivatives segment in October. The existing peak-set in March 2014-was exceeded in October with a total of 1,494,829 contracts traded. The average daily volume was 64,993 contracts in October, an increase of 78 percent compared with January to September 2014.
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Boerse Stuttgart records monthly turnover of around EUR 8.2 billion
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EC-2014 Autumn Economic forecast: Slow recovery with very low inflation
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ECB Accelerates Covered-Bond Purchases in Second Week
November 3, 2014--The European Central Bank stepped up buying of covered bonds in an attempt to boost consumer prices and rekindle growth in the euro-area economy.
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S&P Dow Jones Indices-Europe Index Dashboard-October 2014
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Financial Conduct Authority consults on restrictions on the retail distribution of regulatory capital instruments
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Mifid II: Regulatory 'typhoon' on course for Europe
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Depreciation in the Rouble Hurts Business Sentiment
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EU Benchmarks Plan Too Demanding of Other Nations, Lawmaker Says
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WisdomTree launches European ETF platform
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