mynameisandhy Posted February 16, 2015 Author Report Share Posted February 16, 2015 News and Review of European Economic Zone (Germany) Bundesbank: German Economy Helping Euro Depreciation Monday, February 16th, 2015 The rate of the German economy has shifted to the track faster than previous expectations due to the depreciation of the euro, which helped mempercerah outlook for Europe's largest economy, according to the Bundesbank in its monthly bulletin released Monday. "The German economy will continue to benefit from the acceleration in the current year. In the short term, private consumption will be the main driving factor," said the German central bank. Exporters will also be benefited by a weaker euro, which has fallen sharply against the US dollar in recent months. Germany almost stagnated throughout the spring and summer, as business sentiment terpukulnya by concerns over conflict in Russia and Ukraine. But it was able to offset by a decrease in crude oil prices, given Germany which imports a lot of energy. While the weakening of the Euro makes exports become cheaper in the global market. Comments optimistic Bundesbank was made after the official German statistics agency data Destatis last week showed the economy grew by 0.7% in the last quarter of 2014, growing at an annual rate of 2.8%. Destatis also said that if the economy grew by 1.6% overall in the last year, one tenth of a percentage point higher than projected in January Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 16, 2015 Author Report Share Posted February 16, 2015 News and Review of European Economic Zone (Germany) German Boost Economic Recovery rate of the Euro Zone Monday, February 16th, 2015 Solid growth rate in Germany is reaching expansion of the euro zone's economic recovery faster than expected in Q4 2014, based on economic indicators released showed euro zone region is gaining momentum amid the recovery in oil prices and the weakening of the Euro exchange rate. Eurozone economic output rose 0.3% reported in Q4, topped estimates with a 0.2% annual growth rate at the level of 1.2%, which means that only half of the rate of growth in the US. Better growth performance possibilities supported by the fall of oil prices by 50% on last summer, driving up the level of consumer spending, while the weakening of the Euro exchange rate against the dollar to its lowest level in the last decade 1 also managed to help the exporters. The rate of economic growth in Germany rose 0.7% in Q4, while France still grew 0.1% and the Italian economy stagnant. Spain also reported a growth rate of 0.7%, while Greece was still contracted -0.2%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 17, 2015 Author Report Share Posted February 17, 2015 News and Review of European Economic Zone Euro Zone Urges Greek Bailout For Extension Request Tuesday, February 17th, 2015 Euro zone finance ministers are prepared to continue discussions with Greece on the agreement concerning the issue of funding for the next few days, as representatives of their leaders urged back the Greek government to seek an extension of the current bailout program. "I hope they will ask for an extension program, and once they do that, we can allow for some flexibility in the program," said Jeroen Dijsselbloem, Dutch finance minister who leads regular meetings with colleagues. "It's really up to them, but we are ready to cooperate with them, which is also for the next few days," said Dijsselbloem on his way to a meeting of EU finance ministers. Greek finance minister Yanis Varofakis on Tuesday morning said that there is still time for all parties to achieve "excellent results." "We know about how to negotiate an issue in Europe to create a solution that is very good, honorable solution of dissent in the discussion," said Varoufakis. The failure of talks between euro zone finance ministers will make Greece and its creditors are racing to reach a new financing agreement for a country that is in debt before their bailout program ends this month. The ministers cancel negotiating session just a few hours before the beginning, they say that Greece leaving them with little hope of securing a deal Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 17, 2015 Author Report Share Posted February 17, 2015 News and Review of European Economic Zone (UK) UK inflation Touch Record Low in January Tuesday, February 17th, 2015 UK consumer price inflation in January slumped to its lowest level since records began in 1989 and still has the potential to fall further, which reduces the pressure on consumers ahead of national elections. Official figures released Tuesday showed annual inflation in consumer prices meet estimated by economists, with a drop to 0.3% in January from 0.5% in December. If calculated using the method before the index was introduced, the Office for National Statistics claims January CPI figure is the lowest since 1960. The decline largely reflects the fall of crude oil prices, which last month touched its lowest level in nearly six years, as well as lower food prices. Data released less than three months before parliamentary elections will be good news for Prime Minister David Cameron, because can help increase the purchasing power of households after years of depressed by weak wage growth. Slowing inflation could also delay the first rise in interest rates on the Bank of England since the financial crisis. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 17, 2015 Author Report Share Posted February 17, 2015 News and Review of European Economic Zone (Germany) German Investor Confidence Back Up in February Tuesday, February 17th, 2015 German investor confidence rose to its highest level in a year in February, driven by the arrival of the latest central bank stimulus is getting closer. The ZEW Center for European Economic Research in Mannheim said that its index of investor and analyst expectations, which aims to predict the development of economic progress in the next six months, rose to 53.0 from 48.4 in January. Economists had expected to rise to 55.0, according to the median estimate of 32 economists in a Bloomberg survey. Economic growth in the country with the largest economy in the European region increased pad the end of last year, helping other countries in the region to produce better output than expected. With the price of oil and the euro currency movements are weakened, and the European Central Bank is scheduled to start buying bonds next month, investors are still optimistic despite the increased risk of the Greek crisis that threatened to renew the turmoil in the region. Economist at Societe Generale SA, Anatoli Annenkov in London said that since November, investors ZEW economic sentiment has been rising gradually. Growth may continue to rise at the beginning of 2015 surprise. Bundesbank on Monday said that the German economy has overcome a weak phase in the last year and a faster-than-expected growth this year is expected to exceed the estimates in March. Germany's central bank earlier predicted the country's economy will grow 1% in 2015. The European Commission in this estimate to 1.5% expansion. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 18, 2015 Author Report Share Posted February 18, 2015 News and Review of European Economic Zone (UK) BOE: Inflation Possible Rise in 2016 Wednesday, February 18th, 2015 Bank of England to see that UK inflation will probably rise rapidly in the year 2016 after the impact of the fall in oil prices fading as wage data and unemployment shows the pressure on prices will probably start to rise. With commodity prices and the appreciation of the pound in the past has been accounted for two-thirds of the weakening of the current inflation, slowdown may be better for a while, said the Monetary Policy Committee in February bualn meeting minutes released on Wednesday. With no further movement is remarkable in commodity prices or sterling, the impact of these factors on inflation for the next 12 months will disappear by the end of 2015, and it will cause inflation to rise sharply towards our target, "they said. Minutes also show there are some differences in the jury on when monetary tightening should begin. For two members, the decision to keep interest rates at the level of 0.5% in this month is "quite balanced and there might be a chance to Raise interest rates at the end of this year. Meanwhile, the committee said that the measures most likely to be taken further in the policy for three years fore is tightening, one person said that "approximately equal" to the next shift chance to be easing. In a sign of further strengthening of the labor market, the statistics bureau said that the unemployment rate is at its lowest level in more than six years in the fourth quarter. The unemployment rate as measured by ILO methods fell to 5.7% from 5.8% in the period to November. Wage growth grew 2.1%, outpacing inflation by the largest margin since 2008. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 18, 2015 Author Report Share Posted February 18, 2015 News and Review of European Economic Zone (UK) UK wage growth skyrocketed, Unemployment Rate Down Wednesday, February 18th, 2015 The unemployment rate in the UK fell to its lowest level in more than six years amid rising wage growth in the fourth quarter in a sign that pressure on the wages of workers may begin to rise. The unemployment rate as measured by the International Labour Organization methods fell to 5.7% from 5.8% in the period to November, the statistics bureau said the UK on Wednesday. Wages grew 2.1%, the inflation exceeded by the largest margin since 2008. The Bank of England kept its benchmark interest rate at the level of 0.5% as inflation slowed to a record low. With the easing of pressure on the labor market, the BOE officials apparently shifted its focus to the slump in oil prices and said that the next policy move may be an interest rate hike. "The increase in nominal wages, with the decline in the price of gasoline and food, should the combination will give strong support to the UK's economic recovery," said Rob Wood, economist at Berenberg in London. "We expect that the BOE will Raise interest rates faster than the market expected, the first increase will likely terjadia in February next year." The pound rose after minutes released by the BOE on Wednesday that officials expect "there is a sharp increase" in inflation after the impact of the decline in oil prices fades. Sterling traded at $ 1.5429 at 17:06 pm, up 0.5% from yesterday. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 19, 2015 Author Report Share Posted February 19, 2015 News and Review of European Economic Zone (Switzerland) Swiss Export Slump in Early 2015 Thursday, February 19th, 2015 Swiss exports declined in January following a decrease in demand for pharmaceutical equipment, chemicals and machinery, as well as one less working day. Exports in January was down 6.2% from the previous year, in real terms, to 16.4 billion Swiss francs ($ 17.4 billion), according to the Customs Office release Thursday. In nominal terms, exports also recorded a decrease of 4.4%. While imports amounted to 12.97 billion francs, slumped 9.4% in real terms and 11.4% in nominal terms. The numbers were leaving a trade surplus of 3.4 billion francs, compared to 1.5 billion francs widened in December. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 19, 2015 Author Report Share Posted February 19, 2015 News and Review of European Economic Zone (Greece) Greek Finance Minister Optimistic agreement will be achieved Friday Thursday, February 19th, 2015 Greek Finance Minister Yanis Varoufakis on Wednesday said that negotiations with the European creditors have shown signs of progress, and agreement on a new financing program may be achieved by the end of this week. Speaking to reporters outside the Greek parliament, Varoufakis said that the process toward a deal to keep moving step by step. He also added that Athens will formally apply for an extension of the bailout program on Thursday. "We have been on the right track, consultation began leading up to it," said Varoufakis. "If this situation persists, the positive results with regard to possible technical we can get these days. And the formal approval may be given on Friday." After undergoing an intense negotiation round 2 last week with the Euro bloc, which has an assistance package worth € 240 billion ($ 273 billion), Athens is planning to apply to extend the bailout deal on Thursday. Application is expected to be discussed in a technical meeting of senior officials Euro zone finance on Thursday, prior to submission to the Finance Ministers of the euro zone on Friday Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 19, 2015 Author Report Share Posted February 19, 2015 News and Review of European Economic Zone Euro Zone Trade Balance Surplus Decline in December Thursday, February 19th, 2015 Eurozone trade surplus fell slightly in December, but still at a high level, according to a report from the European Central Bank on Thursday, as the region continues to experience strong trade surplus. Trade surplus, which measures the flow of trade and investment broadly, at 17.8 billion euros ($ 20.3 billion) in December, the ECB said, down from 19.9 billion euros in November. For overall in 2014, the surplus amounted to 240.2 billion Euro zone euros, up from 214.2 billion euros in the previous year. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 20, 2015 Author Report Share Posted February 20, 2015 News and Review of European Economic Zone (France) French Economic Data Released Various Friday, February 20th, 2015 French economy showed decent performance as indicated by the data today. Although manufacturing activity has not been too healthy, capable services sector recorded a significant increase. Reports purchasing managers' index (PMI) service sector fast version (flash) released in figure 52.2 for February 2015. Thus it can be concluded that the services sector recorded a growth of being able to go up to level 50 and higher than analysts predicted the Dow Jones Newswires in 49.9. Unfortunately, the performance of the service sector has not been able to offset the manufacturing industry. Business wheel factories not too healthy for his flash PMI reading of 47.7 or just below analysts' expectations (49.5) and the data in January (49.2). Next service sector PMI data will be released derived from the German state, in which the figure of 54.2 versus expectations of the results of last month's report at 54.0. While the manufacturing PMI predicted to appear at 51.5, compared to a report in January which amounted to 50.9. Then report the eurozone composite index after a few hours ahead, where the figure is estimated to increase to 53.1 from 52.6 (January). The indicator appears on the service sector predicted 53.0 versus 52.7 and manufacturing data out in figure 51.5 versus 51.0. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 20, 2015 Author Report Share Posted February 20, 2015 News and Review of European Economic Zone Stronger Euro zone economy, Ignore Anxiety About Greece Friday, February 20th, 2015 Manufacturing and services sectors in the euro zone rose this month, indicated that the region's economy is building momentum although still mounting concerns about a possible Greek exit from the region. Composite index of purchasing managers in both sectors rose to 53.5 from 52.6 in January, reported by Markit in London on Friday. The figure exceeded the median estimate of 53 economists for reading and it is the highest level in seven months. Economy 19 countries in the Euro area grew 0.3% in the final three months of 2014, and Markit estimate that the region will grow at the same pace in the current quarter. Germany led the recovery in the region as a weakening currency has raised export performance, while the European Central Bank increases the confidence about the outlook for the region. Chris Williamson, chief economist at Markit in London said that the euro zone does not seem to be affected by the Greek debt crisis, economic growth seems to gather further momentum in the coming months. With weapons of quantitative easing from the ECB that will begin in March, optimism on the entrepreneur has pushed to its highest level in three and a half years. " Markit manufacturing index for the euro area rose to 51.1 in February from 51 in January, slightly below economists' forecasts. The services index rose to 53.9 daru 52.7, exceed analysts' estimates. A reading above 50 indicates expansion. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 20, 2015 Author Report Share Posted February 20, 2015 News and Review of European Economic Zone (Italy) Italian Industrial Orders Rise in December Friday, February 20th, 2015 The number of Italian industrial orders rose sharply in December behind strong demand from abroad, indicate that industrial production will grow in the next month. Total booking industry rose 4.5% on a monthly level, reversing a decline of 0.8% in November, it was reported by the Italian statistics bureau Istat on Friday, which usually uses adjusted data. Higher number of bookings at 5.8% annual rate in conditions that have not been adjusted, Istat added. The surge in bookings from abroad which amounted to 8.1%, primarily from electrical equipment and transportation reservations, which contributed to the increase in bookings in December. Istat added that domestic bookings rose 1.8% from November. Industrial sales rose 1.4% on a monthly level, with an increase of 2.8% in demand from abroad, Istat said. Higher sales of 0.9% at an annualized rate in the conditions of the working day adjusted, led by an increase of 7.4% from abroad. For the full year, sales rose 0.1% with a 1.2% contraction of demand domestime that diimabangi by 2.9% growth of foreign markets. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 20, 2015 Author Report Share Posted February 20, 2015 News and Review of European Economic Zone (UK) First Time in 7 Years, British Record Budget Surplus Friday, February 20th, 2015 For the first time in 7 years, the British government budget recorded a surplus. Reports January data indicate that the budget surplus created by the contribution of tax revenue. The coalition government is likely able to meet its fiscal targets ahead of the general election in May. The public sector, excluding banking, scored a surplus of 8.8 billion pounds sterling ($ 13.5 billion) in the month of January 2015. January to early period of progress the income from the public sector, along with the increasing corporate tax revenue. Although the figure is below the projected Wall Street Journal by 9 billion pounds, last month remains the best January since 2008. If the calculated wear fiscal period (April-March), the British public sector only borrow 74 billion pounds, or 6 billion less than the same period the previous year. This fact is a great capital for the government, which is trying to enforce spending discipline. Moreover, the British tax revenue was depressed throughout 2014 due to weak wage growth. Office for Budget Responsibility, the UK's fiscal watchdog, targeting the public sector borrowing amounted to 91.3 billion pounds sterling for the fiscal year ending March 2015. The new government taking 81% quota on the amount of time remaining two months. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 23, 2015 Author Report Share Posted February 23, 2015 News and Review of European Economic Zone (Germany) German Business Confidence Level Up to 106.8 in February Monday, February 23, 2015 German business confidence levels rose for the fourth month in the middle of the economic growth that run faster and optimism over the stimulus from the European Central Bank that go beyond the fear of worsening of the Greek crisis. Business climate index from the Ifo institute, which is based on a survey of 7,000 executives, rose to a level of 106.8 in February from 106.7 in January. The median estimate of 37 economists in a Bloomberg survey called for a rise to the level of 107.7. Growth in the country with the largest economy in Europe dashed amid falling oil prices and a weaker euro, and plans of the German Bundesbank to raise their growth forecasts for 2015. With the ECB will start the purchase of 60 billion euros ($ 68 billion) per month for debentures which aims to raise the Euro area economy, the risk of default in Greece and the country's exit from the single currency bloc is not too burdensome business sentiment in Germany. Greg Fuzesi, economist at JP Morgan Chase & Co. in London say that we see the potential for significantly greater rise in German growth. Growth may be slightly accelerated as commodity prices reached their low level in the current quarter and the contribution of growth of currency and rising sentiment. " Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 23, 2015 Author Report Share Posted February 23, 2015 News and Review of European Economic Zone Germany Emphasize Importance of Structural Reforms For Europe A More Resilient Monday, February 23, 2015 Just a few hours before the subsequent standoff between Greece and its creditors from the Euro zone, the German deputy finance minister Thomas Steffen emphasized that structural reforms should be supported for the sake of a strong and successful Europe. "For example, Spain, Ireland and Protugal, the three countries most affected by the financial and economic crisis may still be a long way to achieve structural reforms at the same time, with their reducing the budget deficit in the public sector in a sustainable manner," Steffen said in a preliminary report monthly report ministry in February. "It is no coincidence that especially the countries in the Euro area is currently showing positive growth momentum." Germany has proved to be a tough negotiator in talks with the new Greek government on debt pelongaran requirements submitted by them to the colleagues from Europe. German positions without compromising on Thursday sufficiently highlighted by the market, when Berlin rejected the extension request help Greece today for the next six months, saying in a letter sent to the partners that offer substantial solutions month. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 23, 2015 Author Report Share Posted February 23, 2015 News and Review of European Economic Zone (Greece) Greek Finance Minister Meets Eurogroup Along Greece Trying to Avoid Default Monday, February 23, 2015 Greek finance minister Yanis Varoufakis back to Brussels for the third meeting in the past two weeks with his counterparts from the euro area in an attempt to reach an agreement that would allow the state that has the largest forest in Europe to avoid a default. In a formal submission on Thursday to extend the rescue support for six months ahead of the Euro zone bailout program will end in February, Varoufakis said that he would accept the procedural and financial terms of the deal that is in the time he was also submitted to the negotiations on other elements . German finance minister Wolfgang Schaeuble directly reject the latest formula proposed by Greece, he said that the country is committed to a strong need for austerity. The talks were "positive" between the Prime Minister of Greece Alexis Tsipras and German Chancellor Angela Merkel on Thursday has sparked investor optimism to that agreement. "Hopes for a compromise on the Eurogroup meeting today has increased," said Nikos Koskoletos of Eurobank Equities in Athens. "The main stumbling block was the conclusion of the current program of what is proposed by the creditors of Greece, and further details regarding the achievement of their fiscal targets." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 24, 2015 Author Report Share Posted February 24, 2015 News and Review of European Economic Zone (Greece) Greece Will Leave Reform Proposals On Tuesday Tuesday, February 24th, 2015 Greece on Tuesday will submit a list of fiscal reforms in the euro zone finance ministers, late on Monday's deadline, which is part of a deal to extend financial assistance, according to government officials. The Greek government does not give a reason for the delay, but said that the Eurogroup has agreed to accept the reform on Tuesday. Eurozone finance ministers will receive the list on Tuesday morning and teleconference will be held at noon, according to a Reuters report. Athens party will include a policy to reduce the number of tax evasion and corruption, as well as policies designed to cut bureaucracy and reform the public sector, according to Reuters. The policy also will stop the issuance of bad loans and foreclosures. Post signed an agreement on Friday, Greece has been trying to design a reform proposal in an attempt to get a bailout extension sangatta needed. Greek left-wing government, led by Prime Minister Alexis Tspiras, get a deadline on Friday when the Eurogroup of eurozone finance ministers agreed to memperpanjat financial assistance to Greece for 4 months. In the agreement, Greece must submit a list of reforms to be approved by the "troika" consisting of the European Central Bank, the International Monetary Fund and the European Commission. Then the euro zone member states must ratify the bailout extension. Some analysts said the reforms proposed by the Greek government is likely to leave later with emphasis on Germany to tighten fiscal policy in order to bring Greece's budget deficit to be controlled. Greece's debt reached 175% of GDP. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 24, 2015 Author Report Share Posted February 24, 2015 News and Review of European Economic Zone (Germany) German GDP Grows 0.7% in Fourth Quarter 2014 Tuesday, February 24th, 2015 German restore their position as Europe's economic powerhouse in the last quarter as surging domestic spending and trade contribute to economic growth. German GDP expanded by 0.7% in the final three months to December 2014, the Federal Statistics Office said on Tuesday, it was confirmed on 13 February estimates. Private consumption rose by 0.8%, capital investment rose 1.2% and exports jumped 1.3%. "Strong impact of falling oil prices and the weakening of the euro exchange rate continues to sustain the increase in the German economy," said Andreas Rees, an economist at UniCredit SpA in Munich. "It's hard to not be quite optimistic with Germany at this time." The decline in energy prices has been described by the Bundesbank President Jens Weidmann as a mini stimulus that would give more money into the pockets of consumers. The decline in the price of black gold also contributed to the negative inflation rate in Germany and the Eurozone which encourage the European Central Bank to announce quantitative easing, a weaker euro and make German exports more competitive. Private consumption added 0.4% to GDP last quarter and net trade added 0.2%. Capital investment added 0.2%, driven entirely by construction. Invetoris reduce 0.2% of GDP. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 24, 2015 Author Report Share Posted February 24, 2015 News and Review of European Economic Zone (UK) BOE Forbes: Increase Rate Probably Needed To Avoid Financial Risks Tuesday, February 24th, 2015 The Bank of England may someday have to Raise interest rates to maintain financial stability if the risk in the financial system continues to increase, said one of the nine voter in the voting rate the central bank on Tuesday. Kristin Forbes, a former economic advisor of President George W. Bush who is currently chair BOE Monetary Policy Committee, said in a speech in London that financial instability is one of the potential risk of very low interest rates are prolonged, due to low interest rates can encourage investors to take bets on risky assets in search of better returns. "If the economy continues to run or be above trend, the financial system will continue to sound, and the cost of borrowing in the UK are still at near zero level, then it can increase the risk to the financial system," Forbes said in a speech in Institutte for Economic Affair. His statement underlines the anxiety of central bankers that low interest rates may revive their economic growth, but probably would have unintended consequences for the financial system. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 24, 2015 Author Report Share Posted February 24, 2015 News and Review of European Economic Zone Euro Zone Inflation Rate Down 0.6% in January Tuesday, February 24th, 2015 Consumer prices across the EU fell in January at the fastest pace since records began in 1997, increasing the risk that the 28-member bloc euro will slip towards deflation. Separate data released late last month showed consumer prices in the Euro zone, a block consisting of 19 countries that use the euro, fell at the fastest pace since July 2009. Eurostat said on Tuesday that consumer prices in the 28-nation euro bloc fell by 0.5% in January from a year ago, and confirmed that the prices in the Euro zone is lower 0.6% in the same period. A total of twenty-three members of the European Union has decreased at an annual rate of consumer prices in January, up from 16 members in December and just four members in November. The decline in prices in a period of 12 months to January largely due to the sharp decline in energy prices. Europe is an importer of energy, and economists usually compare the decline in the price of oil and natural gas to the tax cuts, in an effort to make consumers have to spend a lot of money for goods and services, which are produced in the block. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 25, 2015 Author Report Share Posted February 25, 2015 News and Review of European Economic Zone (UK) British Injecting Funds for Project Cars Unmanned Wednesday, February 25th, 2015 Britain became the first country to allow unmanned test car on public roads. Its government is targeting the transport technology adoption can be fully accepted by the public in the year 2018. The pilot project is equipped with a driver's car without capital 19 million pounds, or $ 30 billion, in which the source of funding comes from government coffers. A total of 4 city prepared to host the testing driverless cars, namely Bristol, Milton Keynes, Coventry and Greenwich. The test vehicle licensed whom Lutz Pathfinder golf car, shuttle vehicles and trucks BAE Meridian Wildcats. UK government policy could inspire other countries to design a similar project for producers driverless technology developers. In the United States and Europe, some companies are already targeting the unmanned car sales can be done in 2017. Senior company executive of Google, Inc., Chris Urmson, stating the main obstacle launch a self-driving car or a car that can drive itself is public acceptance of and adaptation safe operation. Google claims not meeting the administrative barriers to smooth out this great ambition. However Urmson see targets unmanned car usage by consumers the possibility of delayed until 2020 as the complexity of the development process. The cost factor is also not a small obstacle. Radar and laser which will be placed on top of the car to cost nearly $ 75,000 per unit cars, but production costs will be lower if the mass-produced products. Besides Google, Uber cab company also tempted to participate in the development automatic car as transportation fleet. The British government itself will announce the procedure of testing in the spring of this year, before taking it to the legislation in 2017. New in 2018, the UK will lobby international bodies to allow the use of unmanned car commercial. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 25, 2015 Author Report Share Posted February 25, 2015 News and Review of European Economic Zone (France) Insee: French Consumer Confidence Up in February Wednesday, February 25th, 2015 French consumer confidence rose in February, is shown in a survey of the institute Insee on Wednesday. The monthly survey recorded a rise in consumer confidence to 92 in February from 90 in January. Readings in the survey was the highest since May 2012, but still below the range of the long-term average level of 100. Insee reported that consumers' assessment of their ability to make significant purchases reached its highest level since October 2007. The survey also showed a rise in consumer confidence in their personal finances. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 25, 2015 Author Report Share Posted February 25, 2015 News and Review of European Economic Zone (UK) BBA Mortgage Approval number Rise Above Expectations in January Wednesday, February 25th, 2015 The number of mortgage approvals in the UK rose more than expected in January, one month after touching the lowest level in nearly two years, the data indicated in the industry on Wednesday. In a report, the British Banker's Association said that the number of new mortgage approvals rose to 36,400 in the last month of the total in December that as many as 35,700. Analysts originally anticipated new mortgage approvals figures will rise 36.200 in January. GBP / USD is currently trading at 1.5510 from 1.5526 at the current range ahead of the data to be released, while the EUR / GBP was at 0.7321 from 0.7326 earlier on. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 26, 2015 Author Report Share Posted February 26, 2015 News and Review of European Economic Zone (Greece) Varoufakis Rely On ECB To Avoid Default Greece Thursday, February 26th, 2015 Greek Finance Minister Yanis Varoufakis said he relied on the European Central Bank to help Greece avoid default when running out of money next month, while the number of savings banks also began to return. ECB on Greece owes almost as much as 2 billion euros (2.3 billion dollars) from the profit of euro zone bond buying program to prop up the market, Varoufakis said in an interview in Athens. Greece must pay the International Monetary Fund in March. "So that the ECB could give the money to the IMF as a partial payment," he said. "This is just an example, there has been no decision whatsoever. It is our money that is loaned, the result of excessive payments to the ECB." Eurozone finance ministers approve Greek reform package, which includes improvement of tax collection and efforts to tackle corruption, on the Tuesday following the recommendation of the creditor institution. On the same day, about 700 million euros has been returned to the Greek bank account, said Varoufakis. There are more than 20 billion euros of funds out of Greek banks since the beginning of December, according to estimates. "Yesterday, the amount of savings start back on the Greek banking sector," said Varoufakis Quote Link to comment Share on other sites More sharing options...
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