The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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Deutsche Bank net halves on legal-cost reserve : Report

Deutsche Bank AG said  second-quarter net profit halved compared with a year earlier, as it took a charge to boost reserves for potential legal costs, which raised quarterly expenses
But it also reached a key capital ratio of 10% under future Basel III requirements for banks, which it had targeted for the first quarter of 2015
Net profit fell to 334 million euros ($443 million) from EUR656 million in the same quarter last year, substantially below a Dow Jones Newswires consensus forecast of EUR869 million
The figures include a EUR630 million charge for potential legal costs, which lifted quarterly non-interest expenses
The bank said it now has litigation reserves of EUR3.0 billion
It recorded had $534 million provisions for outstanding mortgage repurchase demands in the U.S. at the end of June
Net revenues were up 2% to EUR8.2 billon, helped by higher contributions mainly from the investment bank and the retail bank
Revenues in the investment banking operations, up 9%, benefited from improved market sentiment in sales and trading of equity and stronger issuance of securities in origination and advisory, the bank said
But revenues in sales and trading of debt and other products--usually the main revenue contributor--suffered from "a more challenging market environment" than the same period a year before
Net interest income fell 7% to EUR3.65 billion, provisions for credit losses rose 13% to EUR473 million
Deutsche Bank, whose investment banking revenues heavily rely on U.S. business, was expected to benefit from tailwind first-quarter earnings of U.S. banks showed
Co-Chief Executive Anshu Jain said in June that revenues were "sound" in all segments, partly offset by low interest rates and margin pressure in some regions and businesses
He also said that quarterly investment banking revenues were solid

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