GREECE'S pro-EU conservative opposition, New Democracy (ND), is neck and neck with Syriza, with polls predicting they will gain around a quarter of ...
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How the world sees Greece
Showing posts with label Tax and Economy. Show all posts
Showing posts with label Tax and Economy. Show all posts
Wednesday, September 16, 2015
Why GREECE still needs a miracle to prosper in the euro
Friday, September 11, 2015
European markets expect biggest weekly gain since July
* Eurozone economic growth ‘not enough’ to create jobs * Asian markets bank weekly gains after choppy trading session * Latest UK construction data due 9.09am BST How low could oil prices go? Much lower, according to analysts at Goldman Sachs, who suggest oil could slide to just $20 a barrel. Goldman analysts said: The oil market is even more oversupplied than we had expected and we now forecast this surplus to persist in 2016 on further OPEC production growth, resilient non-OPEC supply and slowing demand growth, with risks skewed to even weaker demand given China’s slowdown and its negative EM feedback loop... WHILE NOT OUR BASE CASE, THE POTENTIAL FOR OIL PRICES TO FALL TO SUCH LEVELS, WHICH WE ESTIMATE NEAR $20/BBL, IS BECOMING GREATER AS STORAGE CONTINUES TO FILL. Operational stress is a growing downside risk to our forecast. This further creates the risk that a slowdown in production takes place too gradually forcing oil markets to clear as they historically have, through a collapse to production costs once the surplus breaches logistical and storage capacity. WHILE NOT OUR BASE CASE, THE POTENTIAL FOR OIL PRICES TO FALL TO SUCH LEVELS, WHICH WE ESTIMATE NEAR $20/BBL, IS BECOMING GREATER AS STORAGE CONTINUES TO FILL. 8.28am BST Greece’s elections later this month raise the intriguing possibility of a coalition between the traditional conservative party New Democracy and leftist former governing party Syriza. Opinion polls have put Syriza and New Democracy neck and neck – far from the easy victory Syriza leader Alexis Tsipras imagined when he called the election to shore up support for the controversial bailout agreement. This is the country’s last chance...I am mature. I’m ready, with a plan, with the party’s top brass and a united parliamentary group, to pull the country out of the crisis. 8.11am BST ECONOMIC GROWTH IN THE EURO ZONE IS STILL TOO WEAK TO CREATE ENOUGH JOBS, ACCORDING TO A SENIOR FIGURE AT THE EUROPEAN CENTRAL BANK. Benoît Coeuré, a member of the bank’s executive board, told French newspaper group EBRA on Friday that growth was not sufficient for job creation. Growth is still not strong enough to create a sufficient number of jobs. Europe will first have to demonstrate its usefulness by creating more growth and more jobs. The important thing is that Greece and its partners trust each other again. On this basis, there will be room for manoeuvre when it comes to adapting the programme after the elections, for example in terms of labour market reforms and tackling vested interests, provided that the objectives of the programme are met. 7.56am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND THE BUSINESS WORLD. EUROPEAN STOCKS ARE SET TO MAKE THEIR BIGGEST WEEKLY GAIN SINCE JULY, AMID ONGOING VOLATILITY ON GLOBAL MARKETS. Continue reading...
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Thursday, September 10, 2015
GREEK Unemployment at 25.2%, Among Young 48.3%
Elstat, the GREEK economic agency, reported unemployment was 25.2% in June. Among people aged 15 to 24, the figure was 48.3%. No recovery can ...
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Greece Jobless Rate Rises In June
Greece's unemployment rate rose slightly in June, data from the Hellenic Statistical Authority showed Thursday. The jobless rate came in at 25.2 percent in June ...
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Greek unemployment inches up; still at record high ...
Greek unemployment inched higher in June, figures released by the national statistics agency showed Thursday and remained at record highs, and more than ...
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| READ THE ORIGINAL POST AT www.marketwatch.com |
Tuesday, September 8, 2015
Eurozone GDP revised up, but Chinese imports slump
Eurozone growth figures are stronger than first estimated, but a big fall in Chinese imports and exports show its economy remains shaky * Latest: Eurozone grew by 0.4% in Q2 * Introduction: Chinese imports slide 13% * Shanghai market slides, then bounces * Analysts blame global slowdown * Nikkei falls 2.4% in nervous trading 2.16pm BST HERE’S ONE FOR THE DAREDEVIL BOND TRADERS AMONG YOU - IRAQ IS GETTING READY TO ISSUE BONDS FOR THE FIRST TIME IN NINE YEARS. Officials from the Iraqi government will meet with City bankers on Thursday to gauge interest. They want to raise funds to cover its budget deficit, triggered by the cost of fighting Islamic State militants and the falling oil price. Despite the political risks in Iraq, its status as OPEC’s second biggest oil producer is expected to ensure buyers for its debt; its huge southern oil fields have not been directly touched by the fighting, and it has embarked on an ambitious multi-year plan to raise crude output. Baghdad is expected to pay a high price for its borrowing, however; Iraq’s outstanding US dollar bond maturing in 2028 is trading at a yield of 10.37%. Neither ISIS, the oil price nor EM shakeout can stop the machine. Iraq bringing bonds to market. 2.04pm BST Staff at the Moscow stock exchange are racing to restart trading using a back-up system, CNBC reports: Moscow stock exchange says it halted trading 1 hr ago after "network equipment" failure, preparing to restart trading on backup system. 1.57pm BST MOSCOW’S STOCK MARKET APPEARS TO HAVE SUFFERED AN UNEXPECTED PROBLEM. Trading on the bourse was temporarily suspended a few minutes ago, with reports of an “emergency situation”. Moscow Stock Exchange has closed due to emergency situation,, wonder what that can be #stockmarket #forextrading #investing #moscow 1.37pm BST EUROPEAN STOCK MARKETS HAVE PUSHED HIGHER TODAY, THANKS TO THE UPGRADED EUROZONE GROWTH FIGURES. Germany’s record-breaking trade figures also cheered investors, following the news of China’s slumping imports. Following further contraction in Chinese trade terms in August, the European and the US stock indices painted the equity picture in green on strengthening belief that central banks’ would not dare taking their hands off the blurry financial markets in the immediate future. 12.33pm BST ALMOST EVERY POLL IN GREECE NOW SHOWS FORMER RULING SYRIZA NECK AND NECK WITH CENTRE RIGHT NEW DEMOCRACY. You are stupid. I have studied at the London School of Economics, what shit have you done?” 12.29pm BST WITH JUST 12 DAYS UNTIL THE GREEK GENERAL ELECTION, POLITICAL PARTIES ARE RELEASING UNUSUALLY LIGHT-HEARTED TV ADS. A prime example is the 37-second ‘campaign’ trailer put out by the anti- austerity anti-euro group Popular Unity this morning. See p/t - Where to, mister? - The national mint. - Don't listen to their shouting. We have anti-memorandum solutions. Learn about them. 11.54am BST TIMO DEL CARPIO, EUROPEAN ECONOMIST AT RBC CAPITAL MARKETS, SEES “RATHER ENCOURAGING” SIGNS IN TODAY’S GDP FIGURES: As we had expected, private consumption provided an important impulse behind the recovery in the second quarter of 2015 (as it has for the last nine quarters). But this time around, it was also accompanied by a measurable boost from net trade, which added +0.3pp to top-line growth. At first glance this might seem somewhat out of whack with the signs of weakness in certain emerging market trading partners. However, we think it is consistent with the view that, in the short-term, that weakness should be offset by the growing recovery in other advanced economies. 11.18am BST TODAY’S GROWTH DATA IS “A DOUBLE DOSE OF MODEST GOOD NEWS” FOR THE EUROZONE, SAYS HOWARD ARCHER OF IHS GLOBAL INSIGHT. He points out that year-on-year eurozone growth hit a four-year high of 1.5% in the second quarter, up from from 1.2% in the first thee months of 2015. The euro and oil prices remained at highly supportive levels to Eurozone growth in the second quarter, although they were above their first quarter lows. However, the Eurozone’s ability to kick on may well have been hampered by heightened uncertainty weighing down on business and consumer confidence as the Greek crisis came to a head and concerns over global growth increased. 11.06am BST EVEN WITH TODAY’S UPWARD REVISIONS, THE EUROZONE’S GROWTH RATE REMAINS SOMEWHAT MODEST. Growth rates of 0.5% in Q1, and 0.4% in Q2, are still modest by international standards, especially given the boost from cheap energy prices and the ECB’s QE programme. 10.58am BST Today’s data revisions show the eurozone’s recovery is on stronger foundations, argues Bloomberg’s MAXIME SBAIHI. Euro area GDP revised up in both Q1 & Q2. Carry-over growth now at 1%. Domestic forces look strong enough to keep region on recovery course 10.49am BST More good news: The eurozone’s growth in the first three month of 2015 has also been revised higher, from 0.4% to 0.5%. 10.46am BST THE EUROZONE IS GROWING FASTER THAN THOUGHT, AFTER STATISTICS BODY EUROSTAT REVISED ITS GDP FIGURES FOR THE LAST QUARTER. GDP increased by 0.4% in the April-June period, not the 0.3% first estimated three weeks ago. Euro area GDP +0.4% in Q2 2015, +1.5% compared with Q2 2014 #Eurostat http://t.co/E6qgq5NMIK pic.twitter.com/cADkTm5L43 10.19am BST GERMANY IS CALMING SOME OF THE WORRIES ABOUT CHINA, BY REPORTING RECORD-BREAKING TRADE FIGURES FOR JULY. Seasonally adjusted German exports climbed by 2.4% month-on-month, to €103.4bn, while imports grew 2.2% to €80.6bn. That’s the biggest readings since 1991 (after reunification) when the survey began, and much stronger than economists expected. 10.03am BST BACK IN THE UK, HOTELS AND COFFEE CHAIN WHITBREAD HAS WARNED IT MAY RAISE PRICES TO COVER THE COST OF IMPLEMENTING THE NEW “NATIONAL LIVING WAGE”. Chancellor George Osborne announced in July’s budget that the £6.50 minimum wage (for over 25s) will rise to £7.20 from next April, and reach £9.35 an hour by 2010. Related: Costa Coffee owner to raise prices in response to national living wage GOOD! I don't want cheap coffee if = someone not paid properly. Whitbread plans price rises to pay for living wage http://t.co/Umzp6GfCFY 9.21am BST THE DECLINE IN CHINA’S IMPORTS WILL HAVE SERIOUS CONSEQUENCES FOR OTHER COUNTRIES, POINTS OUT FXTM RESEARCH ANALYST LUKMAN OTUNUG: The China trade figures released overnight continued to highlight further weakness in the China economy, with both exports and imports declining. The continual decline in imports suggests that China is shifting away from an import dependent nation to one which is encouraging consumers to look more within the domestic market for its products and services. This change in approach will translate to further weakness for economies that have become dependent on demand from China. 9.20am BST FACT OF THE MORNING: BEIJING HAS NOW SPENT SOME $236BN SUPPORTING ITS STOCK MARKET SINCE JUNE. That’s according to Goldman Sachs analysts, who say China’s “National Team” pumped $94bn into shares in August alone, in an attempt to manage the selloff. Since Chinese market started falling out of bed, govt has splashed $236b trying to prop it up = @GoldmanSachs . >Peru or Portugal GDP/year 8.50am BST IN THE CITY, SHARES IN INSURANCE FIRM AMLIN HAVE SURGED BY 32% AFTER JAPAN’S MITSUI SUMITOMO INSURANCE ANNOUNCED A £3.46BN TAKEOVER DEAL. Amlin shares are trading at 655p, close to the 670p offer price, suggesting the deal is expected to go through. Pound surges against yen after Japanese firm said it would buy U.K. insurer Amlin http://t.co/frUZA2T00f pic.twitter.com/s7C64JLtUt 8.38am BST ANOTHER WILD DAY’S TRADING IN SHANGHAI HAS ENDED, WITH THE STOCK MARKET UP 3%. Quite a turnaround. Shanghai stocks now up 3% Shenzhen +4% Earlier: Shanghai: -2.3% Shenzhen: -1.8% 8.35am BST EUROPEAN STOCK MARKETS AREN’T TOO BOTHERED BY THE CHINESE TRADE DATA. The main indices are all up around 1% in early trading: It’s been another positive start for trade in London this morning with traders clearly not feeling too unnerved by those weaker than expected trade figures out of China. Perhaps most worrying is the 13% slump in imports, but with commodity prices seeming to have found something of a floor of late, many mining stocks are once again floating towards the upper end of the index. 8.14am BST CHINA HAS FOUND AN INNOVATIVE WAY OF PREVENTING ANY MORE BLACK MONDAYS - CLOSE THE STOCK MARKET WHEN SHARES FALL (OR RISE) TOO MUCH, AND SEND EVERYONE HOME. China is planning a “circuit breaker” mechanism to prevent any further losses on its volatile stock markets as both of the country’s leading indexes continued to slide. According to draft regulation, trading would be suspended for 30 minutes when the market rose or fell by 5%. If the index went up or down by 7% or more, trading would be suspended for the day. Related: China plans stock market 'circuit breaker' to curb volatility 8.04am BST ECONOMISTS ARE CONCERNED BY THE FALL IN CHINESE IMPORTS AND EXPORTS LAST MONTH. MA GUANGYUAN, an independent Chinese economist, says the economic picture is deteriorating. “The August data followed the trend set in July. Now the global slowdown has very much become a reality.” “China is set to miss its export growth target for this year, and there will be no help from the external demand side for economic growth.” 7.55am BST EMERGING MARKET CURRENCIES ARE ALSO WEAKENING TODAY, AS FEARS OF A CHINESE SLOWDOWN REVERBERATE. The Malaysian ringgit has hit a new 17-year low against the US dollar today, amid concerns that American interest rates could soon rise . Asia crisis 2.0: Ringgit falls for fifth day on lower oil, #China growth concern. http://t.co/qgAEEa18DG pic.twitter.com/6QyWdifXFX 7.53am BST INVESTORS IN TOKYO BAULKED AT THE CHINESE TRADE DATA TOO. Japan’s Nikkei fell by 2.4% by the close of trading, as nervous traders pushed up the value of the yen (which hurts exporters). That means the index has lost all its gains this year. 7.50am BST THE SHANGHAI STOCK MARKET DROPPED INTO THE RED AFTER TODAY’S TRADE DATA WAS RELEASED. Curiously, though, it’s now rallying in late trading, suggesting the Chinese authorities may be intervening.... And the "invisible hand" again guiding Chinese stocks higher in the last hour...CSI 300 rallies 4% - 30 min. to close pic.twitter.com/ImPDGFPLOZ 7.39am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND BUSINESS. If you’re not worried about the China’s economy yet, it might be time to start. Our European opening calls: $FTSE 6085 up 10 $DAX 10137 up 28 $CAC 4559 up 10 $IBEX 9815 up 10 $MIB 21687 up 64 Futures markets picking up...#Europe looks set for higher open & US could see +1% gains pic.twitter.com/BAwJG2Khrh Continue reading...
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Varoufakis: UN to Discuss Greek Debt Restructuring and Bailout
Former Greek finance minister Yanis Varoufakis and 16 other economists have sent an open letter to The Guardian asking for Europe to support the Greek debt issue that will be discussed at the United Nations on September 10. The letter reads as follows: “On 10 September, the United Nations general assembly will vote on nine principles
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In spite of uncertainty emanating from Greece crisis ...
In spite of uncertainty emanating from Greece crisis, eurozone growth this year revised higher
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Governing should be about democracy, say economists
Yanis Varoufakis is among signatories to a letter asking Britain and the EU to sign up to a nine-point UN code putting democratic rights – and not the market – at the heart of international governance Leading economists have demanded that Britain and the EU back a proposal to the UN that aims to protect heavily indebted countries including Argentina and Greece from predatory hedge funds, which they claim bring already struggling nations to their knees. The former Greek finance minister Yanis Varoufakis, the Texas University professor James Galbraith and Martin Guzman, a specialist in sovereign bankruptcy at Columbia University, are among the signatories to a letter in the Guardian calling for rules that would also have prevented Brussels from forcing Athens to accept harsh austerity without offering substantial debt relief. Continue reading...
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Monday, September 7, 2015
Sunday, September 6, 2015
Greece's Tsipras releases campaign manifesto
Stephen Feller THESSALONIKI, Greece, Sept. 6 (UPI) -- Former Greek Prime Minister Alexis Tsipras is expected to announce new policy proposals in a speech Sunday night as he runs for reelection to office.
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GREECE, Italy on an upswing: Italy FinMin
It may be time to begin re-investing in peripheral Europe, Italy's Finance Minister has told CNBC. Speaking on the sidelines of the European ...
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Syriza victory in GREECE no longer certain - polls
As world attention focuses on migrants cramming into trains in Hungary or on to flimsy boats headed for GREECE or Italy, Norwegian police said about ...
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Saturday, September 5, 2015
How the Crowd Can Help Make Entrepreneurs Out of South Africa's Unemployed Youth
_This is the last in a series of political risk and prediction blog posts linked to Dr Aziz's upcoming political comic book, THE GLOBAL KID (note: 100% of sales will go to global education non-profits that help youth reach their potential)._ Youth unemployment in South Africa has been over 50% in recent years (the third highest rate in the world after Greece and Spain), obviously creating significant frustration among young men and women aged 15-24. To make matters worse, the fear of recession is growing, with Q2 GDP growth contracting by 1.3% in Africa's most advanced economy. The good news is the government has _actively_ been trying to create jobs for its younger citizens. Strategies include employment subsidies so companies will be incentivised to hire young people; skills and training programs to help youth enter the job market; and a jobs fund that, among other things, provides public funding to support young job seekers. Meanwhile, outside entities like the Mckinsey Global Institute have been advocating how with appropriate investment the country could create 3.4 million jobs by 2030; similarly the World Bank argues that if policymakers take advantage of its growing working age population, per capita income of South African citizens could double in 15 years. All of this is positive. These are sensible policy prescriptions and initiatives that in theory should help South Africa's deeply entrenched youth unemployment crisis, especially in the long-term. And yet it simply isn't enough in the short-term. We see that youth are suffering - keep in mind that since 1994 the working age population has increased by 11 million, making up 65% of the country. Yet many youth, whether qualified or with limited education, have been sitting idle for years, either hoping for jobs or have simply "given up looking". How can we help South Africa's unemployed youth in the near-term? One strategy is to leverage the crowd to create more immediate entrepreneurship opportunities for youth. In fact, the South African government sees the value of entrepreneurship, even creating the Ministry of Small Business Development in 2014. And there are some success stories of youth entrepreneurs - check out the country's top 10 entrepreneurs under 30, who've created everything from a product for sanitation in impoverished areas to a non-profit that shapes young leaders, to a software company and a record-breaking rocket. But are these super successful entrepreneurs the exception? It would seem so. According to the 2014 Global Entrepreneurship Monitor Report, South Africa has an "alarmingly low level of entrepreneurial activity." And there's still a disconnect between government's job creation initiatives and the 54% of youth who are still unemployed. In fact, a quarter of budding entrepreneurs say their "fear of failure" has stopped them from setting up a business. Leveraging the crowd could reduce this gap between policymakers and frustrated unemployed youth who perhaps don't feel existing policies can help them - or are simply to afraid to try. First, we could simply _ask_ unemployed youth _what they want_. Aggressively show them someone cares about them and wants to see them succeed. Crowdsourcing their answers to this question could be a quick way to help government and other private entities to determine what areas of entrepreneurship would be the best fit for these youth in the near-term. Internet penetration is over 45%, which means it wouldn't be a struggle to get responses and would help government officials to determine if these youth need to be trained in specific skills for their business. Second, we could then crowdfund for one specific entrepreneurial initiative, asking the global citizenry to offer small amounts to help youth start their businesses in one specific sector. We could even identify a specific town in South Africa, linking up with a local non-profit (e.g. IkamvaYouth) or government body (e.g. the Jobs Fund) that can administer these crowdfunds. Let's consider this a small-scale, local project funded by a global crowd - if it works well, it could be replicated in other South African towns with high youth unemployment and so help government with more near-term relief for its younger citizens. (Worth noting that South Africa isn't alien to crowdfunding - look up Thundafund and their recent crowdfunding program for those in "less affluent and historically less networked sectors".) If there isn't any effort to relieve the suffering of unemployed youth in the near-term, what can we expect in South Africa? Instability will rise in at least two ways. First, there will of course be more _protests_. Remember, South Africa's protests have nearly doubled since 2010, with 2014 being an all-time high in unrest. Admittedly these protests are usually linked to state failure to provide services like water, sanitation or housing; but it isn't inconceivable that frustrated youth will engage in demonstrations specifically on their plight too. Second, certain non-state actors, including ISIS, will take advantage of the frustration of these unemployed youth - increasing reports suggest some youth have already been recruited online by the terrorist group to fight in Syria and Iraq. Leveraging the crowd - both locally and globally - to make entrepreneurs out of unemployed youth could be one way to reduce instability in the near-term in South Africa. _Dr Aziz recently completed a research certification in leveraging crowds in the public sector at NYU's GovLab and also spoke on crowdsourcing in policymaking at the 2015 Open and User Innovation Society Meeting in Lisbon, Portugal._ -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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Friday, September 4, 2015
European Commissioner Cretu: ‘We Will Continue to Support Greece’
European Commissioner for Regional Policy Corina Cretu participated in the emergency meeting of the European parliament‘s Regional Development Committee to discuss Commission proposals to support Greece. Cretu made the following statement: “Today I participated in an emergency meeting of the Committee on Regional Development in the European Parliament to discuss the Commission’s proposals to help Greece fully benefit from
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Stock markets slide after 'mixed-bag' US jobs report
173,000 new jobs were created in America in August, fewer than expected, giving few clues into when the Fed might raise rates * Latest: More fears over global economy * NFP misses forecast, but jobless rate hits seven-year low * Wage growth picks up... * ...but labour force participation still weak * Preview: A crucial NFP day 2.59pm BST The market slide is accelerating: 2.54pm BST Meanwhile over in Greece, a new poll ahead of this month’s election and it’s not good news for former prime minister Alexis Tsipras and his Syriza party: GREECE'S SYRIZA PARTY TO WIN 23.4 PERCENT OF VOTES AT SNAP ELECTION, NEW DEMOCRACY PARTY TO WIN 24 PERCENT - METRON ANALYSIS POLL Continue reading...
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Jittery markets fall ahead of US jobs report
Investors are bracing for the latest US Non-Farm Payroll, which could show if an interest rate hike is coming * Introduction: It’s Non-Farm Payroll day * Nikkei hits seven-month low 8.45am BST LOOK WHO’S BACK! Yanis Varoufakis, the former Greek finance minister, has just told CNBC that he won’t back Syriza’s Alexis Tsipras in the general election on September 20th. BREAKING: Yanis Varoufakis tells CNBC: I'm not endorsing Tsipras in this election; he is still a friend but we have political disagreement LIVE: Varoufakis: A 10 year old would know that (Greece's debt situation) would not end well http://t.co/bJppuJzX5m pic.twitter.com/auHdpiRG98 8.31am BST SO MUCH FOR THE DRAGHI RALLY. Europe’s stock markets are sliding back as trading gets underway. A fair chunk of yesterday’s gains have been wiped off London’s FTSE-100 index in the first few minutes of trade this morning with selling in the latter part of yesterday’s Wall Street session clearly taking a toll on sentiment. Traders are now looking at screens awash with red numbers and even if today’s non-farm payrolls are seen as having no meaningful implications in driving a September rate hike, the Fed still has time to act before the year is out. Yesterday’s nascent rebound for commodity prices is also looking to be rather short lived – crude oil is slumping once again and as a result it’s little surprise that the natural resources stocks have been shunted towards the foot of the index. 8.18am BST JOHN LEWIS, that barometer of UK high street spending, has reported that sales at its department stores slid by 3.4% year-on-year in the last week of August. Not a great signal. It admitted that “a tough trading period closed with another difficult week”, but is pinning its hopes on targeting “pent-up demand” in September. 8.03am BST WE ALSO HAVE FRESH SIGNS OF WEAKNESS IN EUROPE’S POWERHOUSE ECONOMY THIS MORNING. Eurgh...some rather horrible factory orders from Germany -1.4% July vs June...much worse than expected 7.55am BST A FRESH BOUT OF GLOOM SWEPT JAPAN’S TRADING FLOOR TODAY, PUSHING THE NIKKEI INDEX DOWN BY 2% TO A FRESH SEVEN-MONTH LOW. Nikkei tumbles 2.2% to 17792.16 lowest since Feb on global de-risking. Falls 7% this week, worst week since Apr2014. pic.twitter.com/JZfgn3BoZ0 Japanese wages: still stagnant http://t.co/Zgxe0rtST3 pic.twitter.com/qGRidw0qWs 7.37am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND BUSINESS. Today is all about the US jobs report, and the possibility that the long run of record low interest rates is about to end. Good Most-Important-NFP-ever-Day Morning Our European opening calls: $FTSE 6106 down 88 $DAX 10155 down 163 $CAC 4576 down 77 $IBEX 9867 down 176 $MIB 21829 down 348 I guess #Draghi's speech never made it to Asia. #Nikkei turns sharply lower. pic.twitter.com/uSbxCOAzIo Continue reading...
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IMF Participation in Greek Bailout Program Hinges on Debt Relief and Reforms
International Monetary Fund spokesperson William Murray discussed the role of the IMF in the 86 billion euro cash-for-reforms Greek bailout. During a press conference on Thursday, Murray noted that there needs to be “substantial” debt relief toward Greece before the IMF can join in on the new program. On the other hand, Greece must also demonstrate
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