News and Reviews European Economic Zone

[mynameisandhy]

News and Review of European Economic Zone

 

Survey of Greece, the European Exchange Positive

Monday, May 28, 2012

 

European stock markets gained in opening trading on Monday (5/28/2012). The trigger pro-bailout party survey menungguli Syriza main rivals ahead of the vote in June.

 

While the Memorial Day holiday momentum is expected to menjada thin trading volume. Europe Stoxx 600 Index rose 0.7% to 244.21. Sustained increase of 1.4% stake GaxoSmithKline PLC and BG Group up 1.2%. So quoting marketwatch.com.

 

Banco Stander shares rose 1% to support the Spanish IBEX index rose 1.1% to 6615.6. Bankia shares fell 23.6% on the second recapitalization plan worth U.S. $ 24 billion. DAX index rose 1.2% t to 6414.07 and the CAC rose 1.1% to 3081.65. FTSE son 1% to 5406.26.

 

Strengthening these exchanges as well as Asia's Hang Seng index rose 0.4%, the Nikkei rose 0.5%, Straits Times index rose 0.6%, the Shanghai index rose 1.1%, Kospi index rose Rp0, 5%, ASX indices up 0.9%.

[mynameisandhy]

News and Review of European Economic Zone

 

Stable After the upheaval of Europe bonds

Tuesday, May 29, 2012

 

Performance improved European bond today after being negative at the beginning of the week.

 

Yesterday the Spanish Treasury bond soared sharply as supply worries about the country's banking system. Today the Italian and Spanish variant of T-bills sold, but the indicator of investor interest in the new European debt will look after the Italian bond auction completion.

 

So far the yield (yield) Spanish 10-year bond is still below 6.5%. However, further pressure has the potential to emerge after a holiday yesterday, despite the statement of Prime Minister Rajoy, who is committed not to disburse funds to rescue banks. Spanish tenor bond yield was unchanged from the 10-year level of 6.43% while interest on the bonds Spain fell 2 basis points to 5.83%.

 

 

Several hours into the future, Italy will conduct the auction T-bills 6-months worth of 8.5 billion euros. But the big impact will not be predictable until the Italian government bond release tomorrow. The yield for T-bills auction today is predicted at 2.05%.

[mynameisandhy]

News and Review of European Economic Zone

 

Euro Lowest Level Approach, Banking Spain Worsens

Tuesday, May 29, 2012

 

 

The euro approached its lowest range for two years today. deterioration of the Spanish banking system and create a return for bonds surged. It also adds to concerns about Greece.

 

The euro was at 1.2535 per dollar, its lowest close range in the last two weeks who reached last week at 1.2495 per U.S. dollar. euro must stop increases experienced yesterday after whom opinion polls in Greece show much support for the party that supports the policy of bailouts. This opens the possibility of a conservative party wins the general election on June 17 next birthday.

 

Against the yen, the euro fell to 99.64 yen, its lowest close range during the last four months reached last week.

 

Prime Minister Mariano Rajoy said yesterday that he was looking for help for the Spanish banking sector. But investors are hesitant assistance will be provided.

 

The demand for euro also limited ahead of the Irish referendum of the new fiscal policy to be applied to Europe next Thursday. While the dollar is not far from the lowest range of the past three months against the yen at 79.022 yen.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

Broadbent's comments Strengthen Sterling

Tuesday, May 29, 2012

 

Sterling rose after the BoE's comments hinted at the Bank of England Broedbent probably will not add monetary stimulus at a meeting in June. GBP / USD is now trading 1.5707, 1.5654 daily stay away from low level

 

"The decline in UK inflation is slower than expected and will probably remain in the range of 3% for the year 2012," said the BoE monetary board member, Ben Broadbent, told Bloomberg TV. "We still anticipate the decline in inflation, but seems to require a longer time than expected." UK inflation is still above the BoE's target of 2% and the still high inflation pressures the central bank would be reluctant to loosen monetary policy.

 

Worsening of the euro-zone debt crisis has turned the hope that the BoE will probably add further monetary stimulus. However, Broadbent assumes the central bank's limited capacity to anticipate the worsening crisis in the euro-zone. Broadbent also do not see the need for considering additional monetary stimulus program might not be so effective. Broedbent even reject the recommendation calling for the IMF that the UK central bank to cut interest rates further.

[mynameisandhy]

News and Review of European Economic Zone (Spain)

 

Bank Of Spain Ordonez: ECB is still a complex problem

Wednesday, 30 May 2012

 

Spanish Central Bank Governor, Ordonez, said that the ECB can not solve the economic crisis in the eurozone today. Ordonez also said that the fiscal problems is not an issue as fundamental and very important for Spain to reduce the current deficit. In addition, Ordonez also added that the Spanish government's estimate of GDP is realistic. According to data released, the interest payable Spain increased by 6%.

[mynameisandhy]

News and Review of European Economic Zone (Italy)

 

Italian bond yields soared Above 6% Post-Auction

Wednesday, May 30, 2012

 

bonds sold five-year tenor of 3391 billion Euro sales slightly below the target of 3.5 billion Euro, with the yield at 5.66% more expensive compared to 4.86% in April.

 

The demand for Italian bonds auction is indicated by the bid to cover ratio of 1:35 slightly higher than the previous auction 1:34.

 

Furthermore Italy is also auctioning off the 10-year bond at 2:34 billion Euro lower than the target of 2.75 billion euros but yield to crawl over 6:03%, compared to the previous auction of 5.84%, while demand for Italian bonds fell to 1.4 than ever before 1:48.

 

Spanish bond yields are still continuing rise before hitting a LTRO ECB launched a program, contrary to the German yield hit a record low in 1318%, these results reflect the transfer of risk of investors into safer assets such as bonds relative to Germany.

[mynameisandhy]

News and Review of European Economic Zone

 

Italian post-auction, the euro extended its reduction

Wednesday, May 30, 2012

 

The euro is still extended their slide against the dollar in the session Wednesday, falling to its lowest level in 23 months after the Italian government debt auction showed the cost of borrowing rose sharply Italy, sparking fears of debt crisis in the eurozone ssemakin depth.

 

Italian finance ministry sold 3.39 billion euros of five-year government bonds yield an average 5.66 percent, the highest since December and up from 4.86 percent in a similar auction last month. Italy also sold 2.34 billion euros with a 10-year bonds yield an average 6.03 percent, the highest since January and up from 5.66 percent in a similar auction last month.

 

Demand is also menjukkan debt reduction, indicating that concerns over Spain and the uncertainty over the election results come in Greece have a negative impact on Italy.

 

The euro was under selling pressure amid concerns over the situation in Spain, where the yield increases, cost overruns bank rescue and economic recession sparked fears about the possibility that Madrid will be forced to seek an international bailout.

 

Euro monitored touch the lowest level since July 1, 2010 against the U.S. dollar at 1.2434 level in European morning trading, then consolidated at the level of 1.2446, down 0.45 percent. Nevertheless, the euro still maintain gains against the pound, up 0.09 percent at 0.7999 level but recorded a decrease to the lowest level in four months against the yen, down 0.93 percent to hit 98.45.

 

Today, President of the ECB Mario Draghi will give a speech, while in the U.S. to be released report of home sales that had not been completed.

[mynameisandhy]

News and Review of European Economic Zone

 

Panic, Debt Asset Investors Assault Germany and the United

Thursday, May 31, 2012

 

Action safe-haven rush hit the market, the German-based instruments and the United States (U.S.) a favorite of investors.

 

U.S. bond interest rates plunged to its lowest level since 1946. While German and British debt instruments touching all-time lows due to the lack of concrete resolutions about the European crisis. German tenor bond yields fell to a two-year zero for the first time. That is, the owners of capital even willing to lend money to the Berlin government without any compensation!

 

U.S. bond yields fell to a 10-year 1.62% and the benchmark German bonds reached 1.26%. While yields on bonds Denmark barely penetrate the level of 1% and the yield fell to 1.64% UK or return the smallest since 1703.

 

The phenomenon demonstrates how bond investors desperately need investment vehicle is immune crisis. Market participants saw the possibility of approaching European crisis worse than the recovery. Italian Treasury auction yesterday is very disappointing and bond yields through its reference to the above 6% for the first time since January. While the euro exchange rate against the dollar eroded to 0.8% down $ 1.24, its lowest in two years.

 

Investor panic does look skeptically at the same time addressing the global economic conditions. It takes radical action from European governments to recover quickly risky interest. Spain and Italy should be subjected to re-shoot to foster market confidence. Spain's banking crisis should be solved as soon as possible given the state was too large to be a bailout. If necessary, the European Central Bank (ECB) to buy the assets of troubled debt countries to fall and bond yields could be slightly improved market sentiment.

[mynameisandhy]

News and Review of European Economic Zone

 

European bourse opened higher, lifting agreement Logica shares

Thursday, May 31, 2012

 

European stock markets opened with a strengthening in the session Thursday, with the still waiting for the post kstabilan frenzied trading in the session yesterday, amid fears of Spain. Yield 10-year government bonds dropped back to Spain and Italy.

 

Europe Stoxx 600 Index rose 0.5 percent to a level of 241.65, with shares in the banking sector, mining and information technology managed to gain success.

 

Logica PLC recorded an increase in stock outstanding, shares rose 64 percent after the CGI Group Inc. said it would buy shares in group companies are valued IT services? 1.7 billion. Telefonica SA shares jumped 2.8 percent after the Spanish telecommunications provider said it would consider the possibility of listing his unit in Germany and selling its stake in its business in Latin America.

 

IBEX 35 index rose 1 percent to a level of 6154.70. The FTSE 100 rose 0.6 percent to a level of 5331.84, Germany's DAX 30 rose 0.4 percent to a level of 6308.56 and France's CAC 40 rose 0.6 percent to a level of 3033.24.

[mynameisandhy]

News and Review of European Economic Zone

 

European Crisis Still Continues

Thursday, 31 May 2012

 

According to data released by the Germans, the change in the German unemployment data do not indicate a change in a positive direction. The data was released showing the number 0 K, far from the estimate which reached number-6k.

President of the ECB, Mario Draghi, also said that the ESRB should continue to monitor the financial crisis in the eurozone today. The aim is that the current crisis is not widespread in the state - European Union countries. Progress has been made​​, but it still takes more effort to overcome the current crisis, and the current crisis is not as bad as had happened in November last year. Restoration of trust in the banks - banks in the euro zone is very important and should receive close supervision. Draghi also said it is important to develop policies - policies that have been made ​​to the state - European Union countries.

[mynameisandhy]

News and Review of European Economic Zone

 

Waiting sprawling Irish Euro Referendum

Friday, June 01, 2012

 

Continued weakening of the euro as fears over the outbreak of the Spanish state, although investors are still waiting for the results of the Irish referendum. The euro had gained yesterday after the Wall Street Journal reported the IMF is discussing a plan to rescue the Spanish banking sector; but cantankerous head of the IMF re-trigger the fall of the euro.

 

"There are no such plans. We have not received a request from Spain and we do not discuss anything related to financial aid," said Director of the IMF, Christine Lagarde, after meeting with Vice-President of the Spanish Soraya S? Enz de Santamaria. Spanish government bond yields are still near the critical level of 7% as investors worried that Spain will eventually ask for help from Europe. European Commissioner, Olli Rehn, warned that the euro-zone can be destroyed if there is no strong mechanism to fight the crisis and did not discipline the government run fiscal austerity.

 

Traders are now waiting for the results of Irish referendum to see whether Ireland will support the European fiscal pact. The survey shows the people of Ireland will provide support and if this happens then investor concerns over the euro-zone would be abated for a moment.

[mynameisandhy]

News and Review of European Economic Zone

 

Run away from the Spanish capital, navigate down $ 1.20 Euro

Friday, June 1, 2012

 

The euro fell to its lowest in 23-month basis is the U.S. dollar in trading on Friday (01/06) and also hit its lowest level up to the Japanese yen in 10 years after many investors who took off his position after the Spanish banking concern will continue to increase.

 

Japan itself is rumored to be preparing to intervene on the strengthening of its currency, which is widely blamed as the increase in speculators and would do if the market will be strengthened still further.

 

The euro fell to $ 1.2312 the weakest since July 2010 and is now a tendency to decline it will be crucial when it passed $ 1.20.

 

The fall of the euro after a lot of Spanish people who send their money out, top to worry about the health of banking there. Data from the Bank of Spain shows at least 66.2 billion Euros ($ 82.0 billion) has been taken out of Spain during the month of March alone, the most since early 1990.

 

The amount is very significant, very large capital flight to Spain to suppress the Euro banks in currency trading today. Indicated that Spanish banks will really need help. All European aid sent to Spain would be a burden to Germany, which is currently heralded as a proponent of European funds and will certainly push the status of safe haven for German bonds.

 

Current condition is not very favorable implications for Europe and Euro will Maskin dropped below $ 1.20.

[mynameisandhy]

News and Review of European Economic Zone

 

Euro Recovers From Degradation Thanks to USD

Monday, June 04, 2012

 

Started this week (Monday, 4/6) in general the single currency euro has strengthened compared to the closing price at the weekend.

 

EUR recorded passionate dikisaran $ 1.2385-95 after sticking up to $ 1.2442 in morning than last weekend closure pad $ 1.2435. Mainly due to the strengthening U.S. dollar weakness after U.S. employment data which sparked rumors that poor Federal Reserve must take additional monetary easing to boost the fragile interconnected economy.

 

Euro despite the low range of the relegation zone in 23 months against the dollar because most market participants to close positions after bearish on the euro fell by 7% during May. However, the possibility of temporary strengthening of EUR (provisional) as investors will remove most of the gainnya back as some analysts said the euro bearish trend will continue.

[mynameisandhy]

News and Review of European Economic Zone

 

EU leaders are still tough conversation, flagging euro

Monday, June 4, 2012

 

The euro fell against the dollar, extending the decline in the last five weeks as EU leaders sign a difficult role in dealing with the crisis.

 

The euro also remained weak against the yen, the decline continued yesterday, ahead of Germany Angela Merkel konselir meeting with coalition party leaders today after refusing to walk with the European Union in the response to the crisis.

 

The dollar gained against the yen due to Japan's government hopes will soon bentindak to weaken the yen. The dollar also rose as Asian stocks fall.

 

The euro fell 0.3 percent to 1.23928 per dollar, after briefly touching 1.2288 per dollar on June 1, the range of its lowest since July 1, 2010. The euro also fell against the yen as much as 0.2 percent to 96.82 yen. Last week, the euro had touched 95.60 yen, its lowest level since 30 November 2000. Having had dropped to 77.66 yen on June 1, the dollar rose 0.1 percent to 78.13 yen.

 

Merkel is scheduled to meet with German coalition party leader Horst Seehofer, who heads the Social Chirstian Union.

 

In his speech yesterday in Berlin June 2, Merkel said that the required European countries is the same interest rate and everything will be fine. In the same day, Prime Minister of Spain Marioani Rajoy said European leaders should maximize efforts to protect the banking sector and urged banks to come together.

[mynameisandhy]

News and Review of European Economic Zone

 

Investor Sentiment Against The estimated Euro Worsens

Monday, June 4, 2012

 

Euro Index in trading today (04/06, 03:04 GMT) generally tracked showed movement off against several other major currencies. After opening at around 99.28 in early trading (00:00 GMT), the currency has fallen - 1 pips or about - 0.01% and at the time of this story down the rolling observed in the range of 99.27.

 

The euro edged observed negative move sideways intraday pattern ahead of the announcement of Sentix (financial research institute) regarding recent developments at the level of confidence of investors and analysts on the economic development in the Eurozone in June.

 

Indicators of economic fundamentals Sentix Investor Confidence is expected to show a negative signal and is expected to be worse than the period -29.1 -24.5 previous. The euro has the potential to continue the movement observed early negative response to these allegations.

 

Investor sentiment is expected to worsen due to the existence of disagreements among countries such as Germany lenders with cash-strapped countries include Spain. Spain requires that the bail out funds disbursed through the European Stability Mechanism, rather than from the government as desired by the Germans.

[mynameisandhy]

News and Review of European Economic Zone

 

The exit of Greece from the European chance, 1:3

Tuesday, June 05, 2012

 

Debt rating agency Standard & Poor's said that the company saw an opportunity to 1 in 3 to Greece out of Europe in the coming months, a result which may lead to the spread of fallout from the debt to other countries. "This may occur due to Greeks who rejected the reforms demanded by the Troika - European Commission, International Monetary Fund and the European Central Bank - a consequence of the delay of external financial support", said S & P said in a statement.

 

"Results like that, in our view, would seriously hit the economy and financial situation of Greece in the medium term and likely to fall of Greece itself", said the debt rating agency.

[mynameisandhy]

News and Review of European Economic Zone

 

G7 officials Will Meet Today

Tuesday, June 05, 2012

 

Finance ministers and central bank governors from the G7 member countries will meet today to discuss the debt crisis of Europe.

 

"We will continue the discussion", says Canada's finance minister, Jim Flaherty told reporters yesterday in Toronto. He said that the G7 member countries will hold talks today a lot ahead of G7 meeting of senior officials in two weeks and said in Ottawa that officials there to discuss the situation in Europe, without giving an explanation of the discussions.

 

The market is still worried about a repeat of the fall of the Spanish banking industry and the possibility that Greece will come out of Europe when the European leaders will discuss the details there to support the single currency Euro. President Barack Obama blamed the slow growth of the U.S. labor force due to the slow steps taken by European officials, up to now in its third year.

[mynameisandhy]

News and Review of European Economic Zone

 

Euro-zone services sector is still Contraction

Tuesday, June 5, 2012

 

Service sector activity in 17 countries using the euro contracted in the month of May.

 

Accelerated decline in the services sector in May was the fastest in three years. Reported on a composite index euro-zone purchasing managers released today Markit.

 

Final composite PMI fell to 46.0, or slightly higher than the preliminary index index of 45.9. But the figure is lower than the record in April, 46.7. A reading below 50 indicates activity is a contraction in the services sector. "If you look at this data, do not be surprised if later on euro GDP contracted 0.5% in the second quarter," said chief economist at Markit.

[mynameisandhy]

News and Review of European Economic Zone

 

Disappointment In Draghi comments Successful Drag EURUSD

Wednesday, June 6, 2012

 

ECB did not change its interest rate at 1 percent on Wednesday for 6 consecutive months, and resisted pressure from the outside to provide relief to the economic recession and tensions that threatened to spread from the euro zone's financial system, especially coming from Spain and Greece.

 

However, interest rate setting decisions are not reachable from the majority vote but by consensus, then the ECB will still monitor the progress of economic data and inflation and are ready to take monetary policy based on these data.

 

President of the ECB still seems to be wait and see, especially close watch on the development of election results by the Greek and Spanish efforts to recapitalize the banking sector, before announcing a special policy, because the banking system is still being met by sufficient liquidity thanks to the program by $ 1.25 trillion LTRO before.

 

Market participants respond to a negative decision by the ECB, where the pairing EURUSD dropped to 1.2450 due to disappointment over the actions that are not too aggressive ECB to address the symptoms of the crisis in the European zone.

[mynameisandhy]

News and Review of European Economic Zone

 

Clear rise in the euro against the dollar after comments Draghi

Wednesday, June 6, 2012

 

Clear rise in the euro against the U.S. dollar, away from the session high level after the European Central Bank president Mario Draghi gave the opening remarks at a meeting of central bank policy.

 

The euro was under pressure after ECB President Draghi said that the downside risks facing the economic outlook, adding that the indicator for the second quarter is expected to weaken in the euro zone. Draghi also said that the main refinancing operations will continue as long as necessary, extend the operation until the end of January 15, 2013.

 

Draghi's comments came after the central bank kept interest rates at 1%, as expected.

 

Euro tracked away from the upper level obtain any session of the U.S. dollar at 1.2527 level, trading at 1.2452 level during the European afternoon trading, down 0.02%. Against other currencies, the euro weakened against the pound, down 0.51 percent to hit 0.8052.

[mynameisandhy]

News and Review of European Economic Zone

 

The European Central Bank left rates at 1%; observe Draghi comments

Wednesday, 06 June 2012

 

The European Central Bank left its benchmark interest rate unchanged for the sixth consecutive month in June, despite fears that rising debt crisis Eurozone is running, announced on Wednesday.

The ECB said it was maintaining its benchmark interest rate at record low 1.0%, in line with market expectations.

The central bank also left the marginal lending and deposit facility unchanged at 1.75% and 0.25% respectively, according to estimates.

ECB president Mario Draghi is to comment on the decision at a press conference later today.

Market participants will examine the comments Draghi for the next program instruction in terms of central bank action in addressing the ongoing crisis of sovereign debt.

After the release of the data, the euro held gains against the U.S. dollar, the EUR / USD up 0.35% to trade at 1.2495.

Meanwhile, European stock markets came from the highest levels of the session. The EURO STOXX 50 rose 1.85%, France's CAC 40 jumped 1.85%, London's FTSE 100 rose 1.25%, while Germany's DAX rose 1.5%.

[mynameisandhy]

News and Review of European Economic Zone (Spain)

 

Worsening Debt Crisis Urges Spain Selling Bonds

Thursday, June 7, 2012

 

2 days after a senior government said that access Spanish into the bond market has been closed, the country will try to sell oblogasi worth 2 billion euros (or the equivalent of $ 2.5 billion) which is equivalent to the interest rate the government is likely to rise from the auction prior to the term the same time.

 

Minister of Finance and Budget Cristobal Montoro said on June 5 that the European institutions should be able to provide financial assistance to help the banking sector the country's current financial markets are still not open the door for Spain. Spanish Finance Ministry will sell bonds with maturities of 2, 3 and 10 years, with the French who sold bonds worth 8 billion euros.

 

"Comments closed bond market access is very worrying", said John Davies, a fixed-income strategist at WestLB AG in London, said in an interview. "Normally, such an approach is to make every effort and try to be optimistic and discuss it together. But it did not happen at this time to Spain. It would be very painful for Spain to sell the 10-year bond interest rate (yield) of 6% ".

[mynameisandhy]

News and Economic Review European Zone (UK)

 

UK house prices rise as predicted

Thursday, June 7, 2012

 

House prices in England in the UK, following the market forecast in May after April the price had dropped sharply.

 

In his report today, the Halifax Bank of Scotland said that the House Price Index rose 0.5% in May. Data April after a revised 2.3% recorded debilitating.

 

In the first quarter of this year, house prices rose 0.8% over the previous quarter, this is the reinforcement that follows the trend of weakening after six quarters between October 2011 and March 2012.

 

Once the data is lost strength against the pound U.S. dollar weakened by 0.38% to $ 1.5437.

[mynameisandhy]

News and Review of European Economic Zone

 

Nervous! Coming eroded Sterling Service PMI, BoE

Thursday, June 7, 2012

 

Currency bearing the British Queen Elizabeth - Sterling eroded back down to the level of $ 1.5430 on Thursday (7/6) after the day had noted a high level at $ 1.5493​​.

 

'Bearish minor' Sterling attached to this happening because investors are feeling anxious and jittery ahead of the release of data services PMI is expected to deteriorate as well as meetings at the Bank of England (BoE), which is feared to give a negative view of the economy. PMI service index in the estimate came in May dipped to 52.5 points from 53.3 previously. GBP was yesterday at the dera of negative sentiment due to the release of data showing a slowdown in UK construction activity in May.

 

But Sterling finally managed to turn things around by rallying up to $ 1.5515 after positive statements emerged from the Atlanta Federal Reserve President Dennis Lockhart. He tells us about the need for policy makers to reconsider further easing if the faltering U.S. economy or the euro zone debt crisis worsened. Suddenly the news was immediately intensified its sales dollars so I can not help provide reinforcement in Sterling.

[mynameisandhy]

News and Review of European Economic Zone

 

Obama: Euro Zone Must Deepen Collaboration to Improve Debt Crisis

Friday, 08 June 2012

 

President Barack Obama on Friday said there were specific steps to take the euro zone - such as injecting capital into banks to stabilize the region's financial system - which will help solve the debt crisis.

 

He said Europe must deepen cooperation in the banking system as an additional step to overcome the crisis. Obama said he was pleased that the European leaders, including German Chancellor Angela Merkel, has begun to discuss the growth and savings plans for overcoming the crisis.

 

Obama said that Greece faces a difficult choice, but it is of interest to all those that remain in the euro countries.

He said he recognizes the harsh solution, however, the faster the action the euro zone, "the cost of cleaning will be way cheaper."

 

His comments came as finance chiefs from the Group of Seven leading nations of Europe under pressure to act more aggressively to stem the debt crisis. Obama has said consistently that the euro zone crisis is creating headwinds for the U.S. economy and that what happens in Europe will affect the U.S.

 

Euro zone crisis, and the health of the overall U.S. economy, threatening to impede the opportunity for re-election of Obama.

 

Officials in the U.S. and several other G-7 countries are worried that European leaders do not act quickly or boldly enough to fix the crisis that threatens to send the region into a severe recession, hurting other economies around the world.

 

Obama said earlier this week that "the world economy is in a tough spot because of what happened in Europe and the fact that some developing countries has slowed."