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  • News and Review of European Economic Zone (Greece)

    Greece Proposal Submission Recent Reforms
    Monday, June 22, 2015

    Greece submitted a new reform proposals to creditors, such a move could be the last effort to get aid Greece to avoid default next June 30. Athens government has said that without the aid, Greece will not be able to pay the debt due on that date amounted to € 1.5 billion to the International Monetary Fund.

    The Greek government on Sunday approved a package of proposals with regard to budgets in order to meet the demands of its creditors to achieve the fiscal targets.

    President of France, Francois Hollande, confirmed Greece has submitted a new proposal. While EU diplomats say the proposal has not been accepted, but the representatives of Greece and its creditors, including the IMF will say will soon have a meeting.

    Fear of default makes miiaran euro fund reportedly withdrawn from banks in Greece last week. Quoting from CNBC, several sources in Frankfurt and Brussels said the European Central Bank board members will meet today to discuss the emergency loan program for Greece. The source said pre-orders for withdrawal on the day in Greece has reached € 1 billion.

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    • News and Review of European Economic Zone (Greece)

      Greek Bailout Proposal Raise Hope For A Deal
      Tuesday, June 23, 2015

      The creditors Greece indicates for the first time that an agreement to avoid the bankruptcy of Greece is starting to look after proposals submitted by Athens on Monday made significant concessions to the reduction of the pension fund.

      Euro zone finance ministers, who met on Monday afternoon ahead of a meeting of euro zone leaders, saying that more work is needed to ensure the figures of Greece in line with the demands of creditors, but talks will continue in the hope an agreement will be reached this weekend ,

      This latest offering is the latest breakthrough potentially decisive bailout negotiations after negotiations that lasted for four months.

      President of the European Council, Donald Tusk said that there are some promising things that have happened, including talks on Monday. Greece latest proposal is the first proposal rill in recent weeks.

      Jeroen Dijsselbloem, Dutch finance minister, who chaired the meeting said that the first assessment of the institution mengawasai the Greek bailout, the European Commission, the European Central Bank, and International Monetary Find, find a new plan to be a "broad and comprehensive. He also added that yet they need to look specifically to see if it adds to the fiscal terms, if reform is comprehensive enough for an economic recovery that is ready to bounce back

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      • News and Review of European Economic Zone (France)

        French Businessman Confidence Down in June
        Tuesday, June 23, 2015

        The level of confidence in the French manufacturing sector fell more than expected in June as business leaders become more cautious about the outlook for their bookings and the current production levels.

        In June, business confidence in the manufacturing sector fell to 100, the indicator for the level of the long-term average, from 103 in May, reported by the statistics bureau Insee on Tuesday. The economists surveyed by The Wall Street Journal estimated that it fell one point to 102.

        A decline in confidence in the manufacturing sector was dragged by a broader indicator of business confidence which includes wholesale, construction, retail and services. The indicator fell to 97 in June from 98 in May.

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        • News and Review of European Economic Zone (Germany)

          German economic Get Momentum, Manufacturing & Services Sector Gains in June
          Tuesday, June 23, 2015

          German economy get momentum this month, with the index of business activity rose more than economists forecast.

          Markit Economics said on Tuesday that the composite index of manufacturing and service sectors rose to 54 from 52.6 in May. The figure is above the 50 level that divides expansion from contraction between and stronger than the reading of 52.7 economists surveyed by Bloomberg.

          The current Bundesbank raised its economic forecasts for Germany amid growing consumer optimism, the outlook for the Euro area is currently overshadowed by the Greek crisis with its creditors. Markit report showed new businesses were occupied by German companies rose only slightly this year, and job creation slowed from the month of May.

          Oliver Kolodseike, economist at Markit said that economic data gave a mixed picture of economic health in the private sector Germans. At the time the company reported that output rose at the strongest rate than in May, the latest rise in new business and the workers are few and showed that activity growth will probably slow again in the coming months.

          With an average reading for the second quarter, overall slightly weaker than three bualn first period of this year, economic growth may not be lifted since the first quarter, added Kolodseike.

          For the month of June alone, Markit's manufacturing index for Germany rose to a level of 51.9 from 51.1 in May.

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          • News and Review of European Economic Zone (Germany)

            Confidence level Businessmen Germany Dropped Due to volatility Greece
            Wednesday, June 24, 2015

            German business confidence levels fell for the second month in a sign of concern that the volatility of any Greek debt problems will reach to the level of countries with the largest economy in Europe.

            Business climate index from the Ifo Institute fell to 107.4 in June from 108.5 in May. Based on a Bloomberg survey of 40 analysts showed a median estimate for a decline to a level of 108.1.

            The current German economic growth is supported by the number of unemployed who are in record low, uncertainty over the unity of the Euro area is still overshadowing the outlook for the country. If governments in the Euro area failed to reach an agreement with Greece on reforms to open up the bailout payments, the country can not pay the debt and ultimately forced out of the Euro bloc.

            Level German investor confidence fell for a third month in June. However, the purchasing managers' index from Markit Economics published on Tuesday rose more than economists forecast, showing rapid economic growth momentum.

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            • News and Review of European Economic Zone (UK)

              BoE's Cunliffe: English Start Shows Increased Productivity
              Wednesday, June 24, 2015

              Productivity England should begin to show improvement over the next few years following the prolonged slump after the crisis, according to an official of the Bank of England on Monday.

              Jon Cunliffe, BoE Deputy Governor for financial stability and one of nine members of the Monetary Policy Committee voting, see several factors began to indicate if the growth in productivity will continue after stagnating for 8 years, albeit at a moderate pace.

              Productivity in the UK, as measured by output per worker, has stalled when the financial crisis occurred and showed almost no growth since 2007, referring to official government data. And for the moment, the UK productivity is still about 15% below pre-crisis growth trends and lags about 30% behind the US, Cunliffe added in a speech in Luton, England.

              Increased productivity has played a key role in driving the economic growth potential of the world and is the main motor in raising living standards.

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              • News and Review of European Economic Zone (Greece)

                Greece Back Rejected proposals International Creditors
                Wednesday, June 24, 2015

                Greek Prime Minister Alexis Tsipras on Wednesday to convey to his government that international creditors have again rejected the latest reform proposals put forward Athens, according to media reports citing a Greek government official.

                Greece has submitted a new offer through the proposals on Monday. The assessed market participants as the latest government effort to dilute the much-needed financial assistance to avoid default.

                Tsipras's comments on Wednesday leveled before he flew to Brussels to hold an emergency meeting, which will discuss the reform measures with the head of lending institutions. Greek PM is scheduled to meet with European Central Bank President Mario Draghi, head of the International Monetary Fund Christine Lagarde and European Commission President Jean-Claude Juncker, ahead of a meeting of the Eurogroup. A reform agreement is expected to be achieved before the EU summit on Thursday.

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                • News and Review of European Economic Zone (Greece)

                  Tsipras Race Time To Deal With Creditors Bailout
                  Thursday, June 25, 2015

                  Greece stumbled to closer to default as the other days of negotiations that ended in several hours earlier without Adaiah ended with an agreement to end the deadlock.

                  With the Greek government said that they cling busily engaged in a meeting in Brussels on Wednesday, EU officials said that the talks are only a few resulted in progress and there is no breakthrough in sight. Prime Minister Alexis Tsipras and the three heads of agencies creditors agreed to hold another meeting on Thursday after they break a few hours.

                  The race for a deal is increasing as Greece moved closer to the deadline for payment of the bailout on June 30 without an agreement in place that will ensure they can meet the payment of 1.5 billion euros ($ 1.7 billion) to the International Monetary Fund maturing well on the day the same one.

                  Minister of Finland, Alexander Stubb told reporters after a meeting of euro zone finance ministers in Brussels that the current conditions more difficult. the ministers will meet again at 13.00 local time on Thursday, then "we hope will have a concrete proposal." The proposal was very important untu keep the discussion process is still going on.

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                  • News and Review of European Economic Zone (Germany)

                    GfK: German Consumer Sentiment Hit By Crisis Greece
                    Thursday, June 25, 2015

                    German consumer sentiment deteriorated slightly for the month of July for the first time since October, reported by analyst group GfK market in their monthly survey on Thursday, as the Greek crisis burden the country with the largest economy in Europe.

                    GfK consumer sentiment index, which measures the future dropped to 10.1 points in July, from 10.2 in June, came slightly below economists' estimates in a survey by The Wall Street Journal for the reading of 10.2.

                    GfK said that the Greek debt default and the country's exit from the Euro zone, which previously looked likely not happen by analysts, the current scenario seems very realistic.

                    GfK said that previous attempts that failed to find a solution to the Greek debt crisis as well as the default which will come at the moment seems to dampen the economic outlook by German consumers. Current conditions raises doubts in the minds of consumers, because the consequences of a Greek exit can not be predicted at this time.

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                    • News and Review of European Economic Zone (Switzerland)

                      SNB Braces For Potential Impact "Grexit"
                      Thursday, June 25, 2015

                      Swiss National Bank is ready to anticipate considerable market turmoil if Greece is forced out of the Euro bloc and will fight it out against the Swiss Franc longs that have been overvalued, according to the chairman of the central bank on Thursday. Franc continues to reap the encouragement of ultra-loose monetary policy in the euro zone, where the debt crisis in Greece is entering a decisive phase. While the SNB in ​​January and has suspended restrictions on the exchange rate of the franc against the euro.

                      Failure of Greece to reach an agreement with international creditors will likely intensify the safe-haven flows into the Swiss currency and will trigger further action from the SNB, which has sought to weaken the Swissie by imposing a negative reference rate and the cost of deposits in francs.

                      "The situation Greece has weighed on the financial markets. The uncertainty related to Greece makes the Swiss franc remains a safe-haven currency," said the SNB chairman Thomas Jordan in an event organized by the Swiss watch industry in Lausanne. "But our main scenario is Greece remained in the euro bloc. The exit of Greece from the currency bloc at risk triggering market turmoil.

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                      • News and Review of European Economic Zone

                        Merkel: Greek talks in Weekend Will Be Crucial
                        Friday, June 26th, 2015

                        German Chancellor Angela Merkel and her European Union leaders told the finance minister to open talks Greece once again and for all the difficult position diseputar requirements for the country to be adjusted in order to secure aid.

                        In the countdown to the expiration of the deadline until June 30 of the Greek bailout from the Eurozone, expectations have been raised, then scoot by Prime Minister Alexis Tsipras, who came to Brussels with a number of proposals simply to push back for reaching an agreement when it is required for the reduction back. With Greece who wish to survive in the Euro area, the frequency of the negotiations has increased since a breakthrough has proved elusive.

                        Rather than reach an agreement, a summit of EU leaders has declined to discuss details of their meeting and just looked confused and frustrated in this condition. French President Francois Hollande and Merkel both said that this was "crucial" to the finance minister, to regroup on Saturday for the fifth session in a discussion of Greece in the past week, to finally get a deal.

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                        • News and Review of European Economic Zone (France)

                          French Consumer Confidence Stagnant in June
                          Friday, June 26th, 2015

                          French Insee survey institute lapora today released consumer confidence for June 2015. According to the data, French consumer confidence stabilized in the last month that the 94 level.

                          Just like in May, a French citizen at the end of the first half less confident in their ability to store assets and money due to economic conditions that have not been as expected. Society does not believe that economic conditions soon improved and can improve their welfare.

                          Before weakening and then flat, consumer confidence had strengthened France 8 points between October 2014 and April 2015. The average level ideal for consumer confidence itself is at level 100 or 6 points above the current position.

                          According to data from the statistics agency Insee, the French people are not too confident of being able to save money now and in the future. Consumer attitudes in view of the current financial situation also decreased compared to last April. But consumers began to have a desire to spend their money so that the survey results are not lower than in May. While the number of household heads who forecast a rise in prices in the market also reduced inflation expectations but still rose in June.

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                          • News and Review of European Economic Zone

                            ECB: Private Sector Loan Rise In May
                            Friday, June 26th, 2015

                            Monetary easing undertaken by the European Central Bank (ECB) began to produce results. According to data released by the central bank today, the number of private sector lending credit euro zone rose in May. From this it can be concluded that there are already more active interest in economic activity among businesses and people so that they are no longer afraid to borrow money from the bank.

                            Total private sector lending rose 0.5% compared to May 2014. Meanwhile, when compared with April (year on year), the increase was also better. Total lending to businesses is slightly down, but managed to be offset by an increase in household borrowing, which reached 0.9%.

                            While the figures in the standard ECB money supply or M3, rose 5% compared to last year. The rate of increase is slower than the percentage increase in April, which reached 5.3% per year.

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