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News and Reviews Economics Asia (China)

China: Inflation at the Top 5%, intolerable

Friday, May 13, 2011

The inflation rate more than 5% could not tolerate the government and the population of China. This was disclosed official in China's Economic Planning Agency in an opinion piece published Friday in the China Securities Journal

However, China's inflation rate may not exceed 10% for now, said Xu Lianzhong, an official in the price control department at the National Development and Reform Commission.

China's consumer price index rose 5.3% in April, slightly slower than the 5.4% rise in March, but still indicates a high inflation pressure. On Thursday, the country's central bank said it would raise the reserve requirement for banks rating of 0.50 bsp, the fifth increase this year, the latest effort to rein in inflation.

UK Economy News and Reviews

Economy Could Drag fragility of Sterling to $ 1.6050

Friday, May 13, 2011

Sterling slumped back in the area of ​​low level in three weeks against the dollar due to gloomy prospects for the state production sector after data released yesterday industrial production and manufacturing sector that does not meet market expectations.

Manufacturing production rose only 0.2% in March, lower than the predicted 0.3%. Meanwhile, industrial production increased 0.3%, but is not optimistic estimate of 0.8% although this figure is still better than the publication February fell 1.2%.

With the release of this data, of course, reduce the rising expectations of the revised British economic growth in the first quarter of 2011.

Meanwhile, according to James Knightley, economist at ING, which slows the production rate of course is another warning against the fragility of the British economic recovery. And he thought of the technical analysis shows daily closing below the Moving Average MA-55, at the level of $ 1.6287, is likely to unlock the potential of weakening further until toward the area of ​​$ 1.6050 trendline.

News and Reviews European Economic Zone

Euro Debt Problems Still Haunted Greece

Friday, May 13, 2011

At this weekend's Euro still has not moved from the negative zone with sluggish movement in the range of $ 1.42-an.

Euro depressed mainly because it is still overshadowed by the problems the euro-zone debt along with the increasing anxiety of the Greek ability to pay its debts. While the uncertainty of Athens to obtain additional bail-out funds to encourage investors to examine the possibility of debt restructuring of the Greek state.

But yesterday the Euro was raised from 6-week lows against the U.S. dollar-related comments from ECB officials who said the rate hike in April and "not the" sole.

ECB officials on Thursday Luc Coene told Reuters, the threat of inflation in the euro zone has increased and price pressures continue to grow so that it can be a foundation to raise interest rates further.

The euro weakened against the dollar to 3 Weeks Related Lowest Greek Debt Crisis

Thursday, 12 May 2011

Recent concerns about the debt of Greece and the latest sell-off in commodity markets make the euro sharply lower on Wednesday, with the risk of falling more is possible.

Currency euro zone fell to a three-week lows against the U.S. dollar, penetrate below the moving average of 50 days about $ 1.43, which traders tend to take this as a sign of more fallout to come.

The fall of the euro, just a week after reaching a 17-month high against the dollar above $ 1.49, accelerated after the steep fall of stocks and commodities causing panic to-safe haven

dollars.

Speculation about whether Greece would receive more funding bailout continues to increase the volatility of risk appetite as investors continued to price in a high probability that Greece will ultimately need to restructure its debt.

The euro last traded down 1.4 percent at $ 1.4201 after hitting a session low at $ 1.4172 on trading platform EBS, the lowest since April 18.

Weakness in the euro helped push the dollar index, which measures the greenback against a group of major currencies, to 75.308 DXY, up 0.9 percent on the day. Against the yen, the dollar rose 0.2 percent to? 81.01.

News and Reviews Asian Economics (Japan)

Tokyo Stock Exchange Down; Commodities Weak Results Beat Toyota

Thursday, 12 May 2011

Tokyo Stock markets fell Thursday, as weakness in overseas commodity and stock markets reduce some of the increase of revenue encouraging results from heavyweight companies such as Toyota Motor and Hitachi.

The Nikkei Stock Average fell 147.61 points, or 1.5%, to 9716.65 after rising 0.5% Wednesday. The sharpest percentage decline for the index since April 12. The broader Topix index of all Tokyo Stock Exchange First Section issues also fell 8.28 points, or 1.0% to 849.34, with all but one of the 33 subindex closed in negative territory.

Volume only amounted to 2.0 billion shares for the second consecutive session.

The markets opened lower as the broader stock markets overseas, along with crude oil futures and gold futures, all losers. Yen showed new strength, especially against the euro after euro zone debt problem appears again. Investors also appear to adjust their positions ahead of tomorrow's closing monthly option, said Yukifumi Watanabe, a trader at Himawari Securities.

Broad market weakness "damaging" reports Toyota's profits are bright. Toyota closed up 3.1% to Y3, 370 on heavy volume after reported after market close Wednesday, net income jumped 95% to Y408.1 billion per year for the business year ended in March. He also said it expects a recovery in production from June in Japan and abroad - rather than the previous outlook for recovery in Japan from July and August for overseas. Toyota said it would increase production in North America to 70% of normal volume beginning in June, two months earlier than previous estimates.

Toyota sentiment spread to other car makers, and help create positive Topix transport equipment subindex for the day. Shares of Nissan Motor, which is scheduled to report results today after the market close, also added 1.4% to Y795.

Isuzu Motors rose 3.9% at Y372 after the company announced business results for the fiscal year ended March, including the initial time than expected for normal production, similar to a Toyota.

Hitachi added 2.4% to Y462, supported by two reports earnings into direct encouragement from rival Toshiba's profit before gains and guidance. Hitachi posted a record net profit of just-ended fiscal year Y238.8 billion, Cycle of the net loss a year earlier, on 3.9% rise in sales.

Pioneer was also up 5.6% at Y359 after the first annual net profit in seven years. "Hope is also increasing that sales for the automotive industry, including car audio equipment, may recover more quickly than expected," said Hideyuki Ishiguro, supervisor at the department of investment strategy Okasan Securities.

Among stocks in red, Olympus down 5.5% at Y2, 281 after posting a sharp decline in its net taxable income, while Terumo also fell 3.4% to Y4, 490 after posting weak results.

Tatsunori Kawai, head of strategy at kabu.com Securities, noted that the uncertain economic outlook continues to affect technology stocks in particular. Kyocera fell 1.7% to Y8, 640, while TDK fell 1.9% to Y4, 195.

Nikkei 225 June futures closed down 160 points, or 1.6%, in 9700 on the Osaka Securities Exchange.

Greek Euro chaotic overload, Shutter Under $ 1.42

Thursday, May 12, 2011

The single currency Euro look is still difficult to get out of his negative territory on Thursday as uncertainty about when giving additional aid to Greece, raising concerns that the country needed once the debt restructuring.

While the Greek community protests against the bailout process is precisely manambah unrest among foreign investors so it looks still much to remove the Euro currency. This condition is likely to continue to push the Euro to below the level of $ 1.42.

In Greece, police were forced to have fired tear gas to tens of protesters in downtown Athens that intends to stop the talks between the European Union, the IMF and the Greek government on the bailout package.

Senior officials of the European Union along with observers from the IMF to meet Finance Minister George Papaconstantinou to assess the readiness of Greece to meet the requirements in order to obtain additional funding from the European Union and the IMF

Bloomberg Survey: Investors Reduce Investment Commodity

Thursday, May 12, 2011

Bloomberg survey found that global investors more pessimistic about the U.S. and world economic growth and plans to hold cash and reduce investment in commodities in the next 6 months.

Nearly 1 in 3 people asked said they would hold more cash, while 30% planned to reduce its investment in commodities. Thus the results of quarterly survey by Bloomberg.

More than half those surveyed by Bloomberg projected that silver prices will fall more deeply in the next 6 months. 16% said the commodities market is one of the worst return next year.

The survey which was held on May 9 to 10 also found the interest of investors towards stock began to decline. U.S. investors, in particular, did not show high interest in investing in stocks in the future, only 37% who said it would raise its stake.

Bloomberg's survey was conducted by taking samples of 1263 Bloomberg customers who are investors, analysts and traders.

Gold Down A Stronger Dollar Dropping Associated Commodities

hursday, May 12, 2011

Gold three-day rally stalled after falling on Wednesday, under pressure from the rebound in the dollar and heavy losses in other commodities, although the potential for demand growth from China is expected to contain any fallout.

Data from China, a major consumer of silver and the second largest consumer of gold, shows the reported inflation rose more than expected in April, while industrial output slowed.

Reversing the previous fall and the dollar rose against the euro, which is under pressure from rising concerns about how European officials will resolve debt problems of Greece and Portugal.

Spot gold fell 0.4 percent to $ 1,508.54 an ounce at 13:38 GMT, leaving prices on track to rise 1 percent this week, while the COMEX gold futures for June delivery was down 0.5 percent at $ 1,509.60.

"We have a Chinese inflation data this morning, which helped reduce some risk of further monetary policy tightening in China, but as far as gold is still becoming attention, it still traded with a larger market," said analyst VTB Capital, Andrey Kryuchenkov, adding that the rebound in the dollar against foreign currencies has exacerbated a decline.

While copper on the London Metal Exchange fell 2.4 percent to $ 8,700 per ton.

Spot silver reversed course and fell 3.1 percent to $ 37.26, after earlier climbing as much as 2.7 percent to $ 39.48, fell after rising three days in a row. COMEX silver fell 3.4 percent to $ 37.17.

Platinum metals fall in line with the fall of commodity complex. Spot platinum fell 0.7 percent to $ 1,780.49, while palladium fell 1.0 percent to $ 716.05.

Japan Economy News and Reviews

Exporters will impose on the performance of the Nikkei Prospects

Wednesday, May 11, 2011

Japan are now facing the electric energy crisis because of the collapse of nuclear power and radiation leaks, the condition is vulnerable to erode economic growth in the future.

With power supplies are minimal, this condition can result in lethargy and manufacturing industry sectors, and ultimately impact on the profit of the company.

Meanwhile, for the first time in 6 months, the Japanese government to downgrade Japan's economic outlook due to the long-term effects of the earthquake and tsunami. At the same time, service Japanese sentiment slumped to its lowest point since February 2009. Not only that, the Nikkei plunging more burdened by the performance of exporters.

In general, the Nikkei index is still struggling to recover from keterpurukannya. And technically the Nikkei index (NK_JPK50), which was depressed in the bearish zone, is still susceptible to fall back to the 9340 level (Fibonacci 50%), then to 8970 (Fibo 38.2%) and 8725 (the lowest level in August 2010). While the Nikkei bullish resistance will be limited to 10 000 and 10 150. Apart from this area, the index is triggered to rebound to levels 10 500.

News and European Economic Review (UK)

GBP / USD - Scenario Governor King For Pound

Wednesday, 11 May 2011

British Pound is the currency with the worst performance in today's trading. The British pound was under surveillance in a large number as the market begins to suspect the potential for economic downgrade by the Bank of England.

Comments from Bank of England Governor Mervyn King tomorrow will bear many burdens on the overall price movement of the British Pound. There are two key statements that get special attention from the market.

Inflation 1.Data

A. Scenario 1 - Mervyn King said that inflation will continue to increase during the year, but will fall as heading into 2012. The following statement will maintain the status quo of weak markets and pressure on the Pound.

B. Scenario 2 - It is not possible, but if Mr. King stated that they see inflation remain at high levels for long periods, the market likely to interpret it as a possible clue rate hike comes at the end of the year. (Pound positive)

Economic 2.Perspektif

A. Scenario 1 - As the market anticipates, BOE downgraded the economic growth perspective for this year and next. The status quo will remain as the market has applied existing information.

B. Scenario 2 - It is not possible, but if the BOE does not budge with the decline in the economic outlook, a positive reaction will be felt for Pound. (Pound positive)

On a technical perspective, the currency pair remains in a relatively tight intermediate uptrend. However, if negative continue to survive, support from the channel can be tested. Support is currently fixed at the bottom of the channel which also coincides with the Standard Deviation to-2 at 1.4250. Resistance is currently floating on the 20 period moving average at 1.6500.

Greek Economy News and Reviews

Flood Action Demonstration Athens

Wednesday, May 11, 2011

Greece threatened the economy stagnated due to mass demonstrations today (11/05). Government offices were closed and many flights delayed after massive protests occurred in Athens in the last 24 hours.

Demonstrations were held in line inspection visit EU officials, who are studying the country's balance sheet. The protests spearheaded by the union government and the private sector so that some general fasiilitas forced vacuum. Schools and public transport faltered, while hospitals and ambulances are operated only by a few employees. Bank, pharmacy and museums were closed, including serviceability lawyers and machining services.

Some ships also left dormant throughout the country. The aircraft did not operate from noon until 4 pm. Citizens increasingly isolated from the information because of journalists, radio, television and newspaper journalism does not run the routine.

All holiday elements to oppose the budget cuts of around 23 billion euros by the year 2015. Aedy and GSEE trade union representing 2.5 million workers, or half the total human resources in Greece. There are currently no solution for the government to appease the masses. Moreover, Greece now has an extra burden, an injection of new funds needed to meet the financial needs for next year.

Duet Gold-Silver Rebound China Post Data

Wednesday, May 11, 2011

Gold and silver (silver) are both strengthened more than one percent on Wednesday mainly related to concerns over high inflation and shrinking China's economic growth so that the condition is sparking interest in a number of precious metals.

China's economic data one digit inflation, down to 5.3% to annual rate of 5.4% earlier in the month of March. While industrial output also appears below market expectations which only increased by 13.4%.

The high inflation and weakening economic growth in China is likely to stem the interest for the risky but instead sustain the attractiveness of gold. Until this news was revealed, the price of gold recorded $ 1523.10 per ounce and continue to build strength during the last three sessions.

Gold win for Fourth Day

Wednesday, May 11, 2011

Gold went up on Wednesday (11/05), also marks the reinforcement for 4 consecutive sessions. Factors supporting the future of high concern to the debt crisis and spike in oil prices.

Spot gold rose 0.2% to as low as $ 1,517.94 per ounce, build a rise in the previous 3 sessions. U.S. Gold futures moved slightly to a level of $ 1,518.30. Greece has denied reports that the country is to discuss aid package worth 60 billion by international lenders.

Investors are watching China's inflation data, which is expected tightening could affect the news from Beijing. Spot silver rose as much as 0.9% to as low as $ 38.78 for 4 consecutive sessions. The price of silver on the COMEX rose 0.8% to as low as $ 38.77.

Japan Economy News and Reviews

Nikkei sluggish in The Rival Close

Tuesday, May 10, 2011

Japan's Nikkei stock index move sluggish on Tuesday with depressed below the range of 9800 as rival exchanges namely the Hang Seng, Hong Kong and South Korea's KOSPI closed-respect of national holidays.

Also selling are still color the Nikkei index after Japanese Prime Minister Naoto Kan shut down its nuclear reactor amid worries that large earthquakes can trigger the nuclear crisis again.

Shares experiencing massive sell them Chubu Electric tumbled more than 10% and shares of other utility sectors such as Kansai Electric fell as much as 2.9%.

Technically refractive index is still seen as neutral in the short term prices to consolidate around the area 9750-9800. Break into the upper area of ​​9800 will go to 9835 as the next resistance before testing the 9900 area. While 9755 will break down into a bearish signal to the area at least 9700 until 9650.

Swiss Economic News and Reviews

Swiss Inflation Rate Still Low Pressure

Tuesday, May 10, 2011

Swiss inflation data today (10/05) relative relief to the government. The threat of inflation remains low recorded as reduction in price pressures. This certainly minimize the chances of rate hike the central bank in Switzerland next month. The consumer price index (CPI) rose 0.1% for April, lower than forecast 0.5% and previous publications (0.6%).

"Inflationary pressure is reduced due to the strengthening of the Swiss franc which had offset the effects of oil prices," said Alessandro Bee, an economist at Bank Sarasin & Cie. The price of clothing and oil recorded an increase of 1.8% and 1.7%, but can be offset by the price of food and beverages affordable. "Although inflation is low, but still there is the recovery trend of rising prices over the labor market," added Bee.

Swiss National Bank will hold a meeting June 16, where economists still have not determined whether interest rates will be raised for the first time in four years. SNB President Philipp Hildebrand said that although inflation has been low, but there is a risk due to rising oil and food prices. Visible increase in inflation expectations, but still remain within the range of price stability. Hildebrand commented.

Meanwhile, the franc weakened in the London session, weighed down by inflation report Switzerland. Nevertheless, the weakening may be limited due to high demand for safe-haven assets amid the euro-zone debt crisis and unrest in the Middle East & North Africa.

News and Reviews European Economic Zone

Post-Downgrade Greece Euro Degraded

Tuesday, May 10, 2011

The single European currency, the euro, still pinned at the range of $ 1.4330 on Tuesday (05/10). EUR experiencing decline correction in its day-to-4 in a row after the Greek debt rating downgraded, so the news is more and add anxiety to the debt crisis of the Euro zone.

And the inevitable condition helped encourage investors to avoid risky assets, causing more and more pressure due to the Euro investors continued to sell.

Parties Standard & Poor's cut its debt rating Greece to 'B' from previous 'BB-', which is reaching the category of "junk" amid the possibility of increasing the debt restructuring.

But the weakening euro is limited and had strengthened thanks to economic reports from Germany that showed exports surged up to 7.3% in March, so at least reinforce expectations for higher interest rates in the euro area.

Silver Up, Gold Stable

Tuesday, May 10, 2011

COMEX silver rose as much as 2% on Tuesday (05/10) as well as to continue strengthening over 3 consecutive sessions. Silver helped by fears of debt crisis of Greek affairs, while the gold seemed stable.

COMEX silver rising as much as 2% to as low as $ 37.90, up nearly 7% from the closing last week at $ 35.29. Spot silver fell as much as 0.6% to as low as $ 37.67, after rallying 6% on the previous session (the biggest rise in 6 months). Silver fell more than 25% last week, triggering a sell-off of commodities, especially after the CME Group's COMEX silver contracts raise margins as much as 84% in just 2 weeks.

Some investors have returned to the market after a sharp correction in order to make bargain-hunting. Ownership in iShares Silver Trust jumped 3% of 10,253.75 tons. Spot gold gradually fell 0.2% to as low as $ 1,509.85 per ounce. COMEX gold rose as much as 0.5% to as low as $ 1,510.20.

Redeem Oil Correction Last Week

Tuesday, May 10, 2011

Redeem crude oil contract losses on Monday (05/09) today (10/05). Oil rose 5.5% to stand at the top level of $ 102 per barrel. Fall of last week's fishing commodity buyers back after being down.

Crude oil for June delivery rose $ 5.37 or 5.5% to as low as $ 120.55 per barrel on NYMEX. Earlier, oil briefly rose to a level of $ 103.40 in strengthening the momentum for a few hours ahead of the closure.

Strengthening Monday, which returns the price to as low as $ 100 for the first time since the day Wednesday, 04/05), managed to redeem half loss last week. Crude oil fell almost 15% in order to close the week at $ 97.18 per barrel level, as well as a percentage of worst weekly since December 2008.

Yen Falls Against Major currency Swiss Post rillis Data

Monday, May 09, 2011

Yen falls against the dollar and major currencies, with the hope that the BOJ mungkin to intervene to sell yen in FOREX market after the yen reached the highest level in seven Sunday on the dollar.

While the euro started the session today with a slight increase against the dollar in the pair USD / JPY, traded around 1.4562 after reaching daily highs of 1.4587 so far and the lowest at 1.4532. Couple face resistance at 1.4620. Daily momentum indicators show sell signal.

The pound traded lower against the greenback, trading around 1.6391 with daily highs at 1.6433 and the lowest at 1.6378. Couple face support at 1.6350. Daily momentum indicators show the couple were in the oversold region.

For USD / JPY, the pair increased during the Asian session, traded around the 80.49 level, with the highest level at 80.64 and the lowest daily at 80.21. Daily momentum indicators show the couple were in the oversold region.

Elsewhere, the U.S. Dollar lower against Swiss franc on Friday after the release of Swiss Unemployment Rate data.

USD / CHF is trading at 0.8695, down 0.14% at the time of writing.

Oil Down, Hedge Fund Loss Great Company

Monday, May 9, 2011

Clive Capital, the hedge fund world's largest commodity estimates a loss of more than $ 400 million due to falling oil prices last week

The company is headquartered in London, which manages client funds of about $ 5 billion - was the largest of several large hedge funds believed to be shaken after an unexpected sales that hit the market last weekend.

Hedge funds such as Astenbeck Capital, a fund run Phibro owner Andrew Hall, predicted a loss of two digits to their portfolio, according to investors.

In a letter sent to investors on Friday that obtained by the Financial Times, Clive portfolio fell 8.9 percent within a week after the fall of commodity prices is "extraordinary" on Thursday. Clive said the management was confused to explain what caused the crude oil market to be "destroyed". "Step in Brent represent the standard deviation of about 5, while the WTI is the standard deviation of 4," Clive said in his letter. Standard deviation 5 is a very rare event

Gold and Silver Commodity Stable After Fall

Monday, May 9, 2011

The price of gold and silver held steady on Monday after falling last week due to a sell-off that hit the commodity, as investors are watching the euro zone debt crisis and its impact on the Euro.

Spot gold moved slightly in the level of $ 1,493.75 per ounce, after posting kejatuhanm 4.5% last week, its worst since February 2009.

COMEX Gold futures rallied 0.2% to as low as $ 1,493.80.

Spot silver moved down 0.2% to as low as $ 35.54, after posting his fall the previous week.

Silver on the COMEX rose 1.4% to as low as $ 35.78.

Review of economic zone europe (greece)

Greece wants the loan interest relief

9/May/2011

Jakarta, Strategydesk - Greece wants a reduction in the interest rate it receives financial assistance from the IMF and the European Union, the German newspaper Die Welt reported today, citing sources related to the negotiations.

According to the newspaper, Greece also asked for leniency on the requirements set by the two institutions in the bailout agreement, because it is still the economic burden. Athens hopes the deadline given to reduce its debt to 3% of GDP from the previous two years was extended in 2014.

Prime Minister of Greece George Papandreou on Saturday denied that the Greeks consider to get out of the euro and requested his country should not diganggung to complete the task.

The statement came after news of the newspaper Der Spiegel that said Greece wanted to get out of the currency bloc. In addition to the Greek Prime Minister, other officials denied the report is the Chairman of the Eurogroup Jean-Claude Juncker.

Over the weekend, appeared opinion on the question of Greece, one of the Ifo Institute Chairman Hans-Werner Sinn. According to him, when the Greeks out of the euro, the country will be able to devalue its currency and become more competitive. But if the Greeks do an internal devaluation by cutting wages and prices of 20-30%, the country could be on the verge of civil war.

Other views come from economists affiliated with High Frequency Economics, namely Carl Weinberg. According to him, the issue of Greece out of the euro ridiculous.

Experts had predicted a year ago Greece will have to restructure its debt, now believes Ireland and Portugal will meet the same fate. "We've warned that Greece will not be able to follow the requirements, and such a crisis is inevitable," he said.

"Restrukturiasai could happen with how easy or hard way. An easy way through a planned restructuring program, how hard is that which is Greek right now, "he added.

Worried Abandoned Greece, Euro Fatigue

Monday, May 9, 2011

For short-term EUR / USD likely to weaken in the range of 1.4220.

"The problem of the euro zone debt still steal the show. Expectations of further ECB rate hike is reduced to the current and dollar short position is liquidated," according to Teppei Ino, senior analyst at Bank of Tokyo-Mitsubishi UFJ.

Euro zone and government officials refused Greek news mentioning that Greece is considering to leave the euro zone. If this happens, the Greeks certainly will not be able to pay off debts and will trigger other countries to follow the Greek, "according to Ino. EUR / USD at 1.4384.

Yen Falls Against Major currency Swiss Post rillis Data

Friday, May 6, 2011

Yen falls against the dollar and major currencies, with the hope that the BOJ may intervene to sell yen on the FOREX market after the yen reached the highest level in seven weeks against the dollar.

While the euro started the session today with a slight increase against the dollar in the pair USD / JPY, traded around 1.4562 after reaching daily highs of 1.4587 so far and the lowest at 1.4532. Couple face resistance at 1.4620. Daily momentum indicators show sell signal.

The pound traded lower against the greenback, trading around 1.6391 with daily highs at 1.6433 and the lowest at 1.6378. Couple face support at 1.6350. Daily momentum indicators show the couple were in the oversold region.

For USD / JPY, the pair increased during the Asian session, traded around the 80.49 level, with the highest level at 80.64 and the lowest daily at 80.21. Daily momentum indicators show the couple were in the oversold region.

Elsewhere, the U.S. Dollar lower against Swiss franc on Friday after the release of Swiss Unemployment Rate data.

Greece has been Improving the Likelihood of Exiting the Euro Zone

Friday, May 6, 2011

Greece has raised the possibility out of the euro zone in discussions with the European Commission and other member states in recent days, Spiegel Online, Germany reported on Friday.

The magazine said the euro zone finance ministers meet in Luxembourg on Friday to discuss the Greek crisis and that the possibility of debt restructuring will be on the agenda of the meeting.

"The government has raised the possibility of leaving the euro zone and re-introduce its own currency," the report said, without mentioning the source.