mynameisandhy Posted September 23, 2012 Author Report Share Posted September 23, 2012 News and Review of European Economic Zone ECB's Liikanen: Must be More Transparent Decision Friday, September 21, 2012 European Central Bank should be more transparent in explaining its decision pengambilnya, according to ECB council member Erkki Liikanen on Friday. "We need more transparency., And we should be more careful," said Liikanen, Finland's central bank governor. Liikanen says ECB ruling that council members "to act in accordance with the law" and not allowed to cover up the details of the discussion board members. He proposed that the legislation be amended to allow that background ECB decisions more transparent. "When the rules changed .. we can move a step forward," he added. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 23, 2012 Author Report Share Posted September 23, 2012 News and Review of European Economic Zone (Switzerland) Still Maintain Ceiling SNB EURCHF Exchange Friday, September 21, 2012 In a quarterly report on the economy in general, the Swiss National Bank has confirmed that the currency swiss franc is still too high so that the central bank is preparing ammunition intervention if necessary. SNB also said that the Swiss business prospects are still quite vulnerable due berkelanjutkan programs in the Euro zone, but real sales prospects are even brighter as the level of consumer spending is relatively healthy. SNB overall assessment of the economy and monetary policy there is nothing really new, where the Swiss authorities still continue commitment ceilings EURCHF exchange rate at 1.20. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 24, 2012 Author Report Share Posted September 24, 2012 News and Review of European Economic Zone (Germany) Germany Still Continues Growth Momentum Monday, September 24, 2012 Germany's economy is still going please register growth, according to the German central bank. It certainly cue-largest economy in the euro zone may escape recession amid protracted debt crisis. "Germany started the third quarter of 2012 with a good start. Increased industrial production and construction activity is also growing. This would signal the continued momentum of economic growth in Germany," the Bundesbank in its monthly report. However, the Bundesbank acknowledged the economic outlook still shrouded uncertainty. Bundesbank commemorate the external threats that could worsen the euro-zone. However, the Bundesbank saw high interest consumer spending and residential construction activity will continue to sustain the performance of the German economy. Meanwhile, the euro tried to mute further weakening in the London session. EUR / USD is now trading 1.2928, try to stay away from daily lows 1.2896 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 24, 2012 Author Report Share Posted September 24, 2012 News and Review of European Economic Zone (Greece) Greece Denies Rumors Pruning € 20 Billion Budget Deficit Monday, September 24, 2012 A representative of the Greek Finance Ministry on Monday issued a rebuttal related to news a German media. Throughout the weekend the German magazine Der Spiegel preach if the Greek government is required to slash € 20 billion ($ 26 billion) budget deficit in order to meet the requirements of the international creditors. Representatives from Greece's Finance Ministry also said that the government would only negotiate spending cuts amounting to € 11.5 billion by the Troika, as well as finding the right steps to boost state revenues to € 2 billion. With Troika, comprising the European Commission, ECB and IMF, budget negotiations are taking a pause this week, making the final agreement on budget cuts will not be decided until at least next week. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 24, 2012 Author Report Share Posted September 24, 2012 News and Review of European Economic Zone European Leaders Seek Crisis Overcome Impasse Monday, September 24, 2012 Leaders in Europe is working to resolve the impasse as they face the rejection of the unification of the banking sector, the debate in Greece about how to fulfill the bailout commitments and Spain that might be asking for help. Chancellor Angela Merkel and President Francois Hollande underscores the conflict between France and Germany at the weekend as they disagree on a merger of the European banking sector, with Hollande Merkel rejected a proposal to turn the plan "as soon as possible." Financial markets "that are monitoring the situation in Europe is waiting for a solution," Merkel said at a meeting on September 22 near Ludwigsburg, Germany. Although demiian, "The solution has to be nice and not too long," he said. Deadlock on combining the banking sector could delay a solution to the crisis until next year, adding to the chaos that had been sweeping Europe. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 25, 2012 Author Report Share Posted September 25, 2012 News and Review of European Economic Zone Germany Admits Doubts Against Market-euro zone Tuesday, September 25, 2012 German Chancellor Angela Merkel, admitted that the financial markets doubt the ability of some euro-zone members to pay their debts. "There is lack of confidence in the ability of some euro-zone members to pay its debts in the long run. Anxious world with competitive rate euro zone," Merkel said while making a speech before the Association of German Industry. Merkel saw the need stamina to resolve the debt crisis and point out the ability of the euro-zone fiscal pact running and supervision of the preparation of the banking sector as well as a good sign. Merkel said it was too early to discuss the injection of capital to the banking sector before the banking supervisory agency formed. Meanwhile, the euro weakened on the London session. EUR / USD is now trading 1.2903, moving away from a daily high level 1.2953 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 25, 2012 Author Report Share Posted September 25, 2012 News and Review of European Economic Zone Nowotny: ECB Purchase Programs Under the Mandate Tuesday, September 25, 2012 Plan of the European Central Bank to buy euro zone sovereign debt stricken in accordance with the contents of the ECB's mandate and in line with the regulations of the European Union, said the ECB council member Ewald Nowotny on Tuesday. "From my point of view and the ECB, the ECB acted in accordance with its mandate," Nowotny said on Austrian Die Presse daily readers. He also said that he did not feel that the ECB bond buying program contrary to the regulations of the European Union. Nowotny also added that before the ECB will buy bonds of a country, there are certain requirements that must be met. For example, the purchase of bonds can only be made to countries participating in the euro zone's permanent bailout mekaisme the European Stability Mechanism, he said. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 25, 2012 Author Report Share Posted September 25, 2012 News and Review of European Economic Zone Spanish Bond Auction Results and Italy Not Good Tuesday, September 25, 2012 Spanish and Italian bonds fell as the yield on Spanish bond auction and an increase in demand for Italian bonds is reduced, amid concern that the region's debt crisis worsens. Meanwhile, German 10-year bonds rose for a second day, pushing its yield to the lowest level in 2 weeks. Spain said today that it had to find out how big program of bond purchases from the European Central Bank while considering asking for help from outside. German Chancellor Angela Merkel will today meet with European Central Bank President Mario Draghi in Berlin. "The market seems to be looking for an indication of weak investor appetite, with decreases in demand or an increase in yield," said Brian Barry, an analyst at Investec Bank Plc in London. The increase in yield on Spanish bond auction "could potentially be an indication of growing investor anxiety about the bailout request," he said. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 26, 2012 Author Report Share Posted September 26, 2012 News and Review of European Economic Zone (UK) CBI: UK Retail Sales Volume Increase Wednesday, September 26, 2012 UK retail sales enjoyed a modest rise in sales volume during the first 2 weeks of September and predicted faster growth for the month of October, according to a survey conducted Confederation of British Industry. In a recent poll CBI against retailers, 33% of them said that if the annual sales rate rose in the first 2 weeks of September. While 27% reported a decrease. The results are encouraging retail sales index rebounded to +6 -3 after posting poor results in August. CBI also said that if sales are expected to rise further to +15 next month. The strengthening in consumer spending reflects the sharp fall of annual inflation, which could potentially boost the economy out of recession in the coming months. However, Judith McKenna who is director of operations at the supermarket chain Wal-Mart Inc. and the head of the CBI retail panel, argue that if the growth outlook remains uncertain. "Retailers can expect growth will continue in the months ahead. Yet the fragility of the economy is still visible, although the pressure on household budgets have eased as the decline in inflation. This reflects the uncertainty in the global economy at risk affects household spending for the rest of the year," he said. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 26, 2012 Author Report Share Posted September 26, 2012 News and Review of European Economic Zone (Greece) Greece Ready to Face Strike Action Wednesday, September 26, 2012 Two of Greece's biggest unions have called a strike today in protest against the austerity policies of the European Union and IMF want. Airplanes and trains are disabled, close the outlet stores, and hospitals stop operations as an expression of protest against Greece's new coalition government came to power in June. "The policy of austerity is too heavy to be carried out and only aggravate the crisis. We will continue fighting and called for all workers to protest against austerity policies," said Costas Tsikrikas, union leaders ADEDY. Thousands of workers are expected to take part in demonstrations today. 3000 has also been alerted police in central Athens as the government anticipates the worst of the rallies. In February last, the demonstrations turned into riots that destroyed many shops and banks in the Greek capital. In the meantime, please register weakening euro thin in the London session. EUR / USD is now trading 1.2886, not far from the level 1.2847 daily low Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 26, 2012 Author Report Share Posted September 26, 2012 News and Review of European Economic Zone (Spain) Before Ask for Bailout, Spain Bond Monitor Wednesday, September 26, 2012 Spanish Prime Minister today opened the possibility to ask for a bail out officially to the European Union. Wall Street Journal proclaiming Mariano Rajoy is studying the availability of access to fresh funds that can be accessed by Spain. But he insists will only ask for an official bailout bonds when the country surged in the past for too long. Rajoy also announced the intention of forming an independent fiscal watchdog to oversee the Spanish budget deficit. The existence of specialized institutions that will be active as program cuts debt and structural reforms that are ready introduced to the public this week. "I can assure 100% that I will ask for a bailout," Rajoy lid. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 27, 2012 Author Report Share Posted September 27, 2012 News and Review of European Economic Zone (UK) BoE Want Banking Increase Capital Thursday, September 27, 2012 UK banks should take advantage of improved market conditions to raise capital, according to the Financial Policy Committee of the Bank of England. The central bank wants banks more active in raising capital from investors and not just cut bonuses and increase the allocation of retained earnings. "Improving the latter condition can help increase both capital by way of conversion of debt or the issuance of shares," the BoE said in a statement. UK banks are still vulnerable to shocks given the euro-zone area covers 70% of the banks' risk asset allocation. BoE wants banks reduce risky asset positions in the euro zone amid improved sentiment. Commission's financial policy has a duty to address the various threats that could disrupt the stability of the UK financial system. Meanwhile, sterling rose in the London session. GBP / USD is now trading 1.6193, moving away from a daily low of 1.6166 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 27, 2012 Author Report Share Posted September 27, 2012 News and Review of European Economic Zone Banking on Credit flow-Euro zone is Weak Thursday, September 27, 2012 ECB monetary easing does not seem able to increase bank lending in the euro zone. The worsening recession and tight lending requirements in southern Europe contributed to weak credit flows. Loan portfolio fell 0.6% for the month of September; worse than forecast 0.1% rise in July and publications are down 0.4%. Credit flows are very weak in Spain and Italy despite an increase in some euro-zone member states. "There was a problem a number of companies, who want to borrow and have a good financial condition, face a more difficult credit conditions and this will certainly undermine the prospects for economic growth in the euro zone," said Howard Archer, economist at IHS Global Insight. Banking in the troubled euro-zone members still have to rely on the ECB for their funding needs as international investors reluctant to lend funds. Meanwhile, the euro weakened thin record in the London session. EUR / USD is now trading 1.2866, not far from the level 1.2844 daily low Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 27, 2012 Author Report Share Posted September 27, 2012 News and Review of European Economic Zone Euro-Zone Economic Sentiment Down Thursday, September 27, 2012 The threat of protracted recession and debt problems successfully undermined economic sentiment in the euro zone for the month of September. Economic sentiment index fell to 85.0; less than forecast and the publication of 86.1 in August. The euro-zone economy stagnated in the first quarter of 2012 and contracted 0.2% in the second quarter due to widespread austerity policies and weak global economic performance. Protracted debt problem which has entered its third year and even made the economists predicted the euro-zone will experience a recession in the third quarter later. The threat of recession is quite apparent when viewed from the deteriorating performance of other economic indicators. Business sentiment index of the euro zone also fell to -1.34; worse than the predictions of -1.19 and -1.18 in August publication. And service industries sentiment index fell to levels respectively -16.1 and -12 for the month of September; lower than previous publications -15.4 and -10.8. Consumer sentiment deteriorated from -24.6 to -25.9. Meanwhile, the euro weakened thin record in the London session. EUR / USD is now trading 1.2852, close to daily lows 1.2845 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 30, 2012 Author Report Share Posted September 30, 2012 News and Review of European Economic Zone (Spain) Spanish banking Perhaps It took 59.3 billion euros as Capital Extras Friday, September 28, 2012 Spanish banks would need as much as 59.3 billion euros ($ 76.3 billion) in extra capital to get out of the economic crisis, according to Oliver Wyman consultant who is an independent audit agency appointed by the 14 major banks from various countries. Estimated worst is not even taking into account tax credits or future banking plans to raise their own capital, the Spanish economy is expected to contract by 6.5 per cent between the years 2012 to 2014. Audit institution said that half of the 14 banks have the capital required, the shortage of as much as 49 billion euros to banks that have been nationalized. The results of the audit will assist the Spanish government to determine how much money would be used from the credit limit as much as 100 billion euros agreed by the EU to recapitalize banks that are in trouble. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 30, 2012 Author Report Share Posted September 30, 2012 News and Review of European Economic Zone The increase in European Zone Inflation Opportunities Opens ECB cuts interest rate Friday, September 28, 2012 The rate of inflation in the euro zone accelerated in September as rising energy prices, but the price level is rising in the slowest pace in a year, seems to support the intention of the European Central Bank to cut interest rates in the near future. Energy prices rose by 9.2% following a 8.9% rise the previous month. However, the core inflation rate, outside of energy and raw foods, fell to 1.7%, its lowest level in a year. The data indicate that the euro zone economy entered a recession in the third quarter, keeping inflation data Friday on expectations that the ECB will not wait long before cutting interest rates to stimulate perutmbuhan. "It seems likely the ECB will cut interest rates fell from 0.65% to 0.50% in the fourth quarter," said Howard Archer, economist at IHS Global Insight. "While the ECB is still likely to take action as early as the next meeting in October that on Thursday next week, we think they will refrain until November." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 30, 2012 Author Report Share Posted September 30, 2012 News and Review of European Economic Zone Italy Will Be Next Focus in Europe Friday, September 28, 2012 Italian government bonds will again be focused on the euro zone debt crisis soon after the Spanish need to ask for help and get support from the central bank for its debts. Bailout partly to Madrid would probably trigger a bond purchase plan European Central Bank, lower Spanish bond yields and increase investors' risk appetite in general, including bonds issued by Italy. But Italy may again be one that feared by the market as being the next weakest country. "The risk of spread to Italy to grow," said David Keeble, head of global strategic fixed income at Credit Agricole. With the crisis still unfinished, attacked the Italian market risk by selling bonds with low value, which provides liquidity but will make the ECB's efforts wasted. "Spain is not going to hit a sell as it is supported by the ECB so that Italy will be the target of selling," said Keeble. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 1, 2012 Author Report Share Posted October 1, 2012 News and Review of European Economic Zone (Spain) Moody's: Bank Recapitalization Spain may 'Not Enough' Monday, October 1, 2012 Through Credit Outlook, published on Monday, Moody's Investors Service said that the Spanish bank recapitalization plan is a credit positive, although the move may eventually 'will not suffice. "Market participants are still waiting for the announcement of Moody's, following the end of the review period the debt rating of Spain. The results of the Spanish banking sector stress test on Friday shows the need funding of about € 59.3 billion ($ 76 billion) for the recapitalization process, which is still below Moody's expectations. "Recapitalization material will increase the solvency of the institution affected and help restore market confidence in the Spanish banking system as a whole. Yet growing negative sentiment in the market has the potential to hamper the government's efforts to restore confidence in Spanish banks," Moody's analysts said. They also added that if the speed of the government in attracting independent investors to improve the performance of troubled banks would be a good test to see if asset valuation is quite simple will be able to restore market confidence. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 1, 2012 Author Report Share Posted October 1, 2012 News and Review of European Economic Zone (Italy) Italian Unemployment Data Exceeds Expectations Monday, October 1, 2012 The Italian government managed to keep the unemployment rate remained stable in three consecutive months. Average unemployment in Italy stable at 10.7% in August for three consecutive periods of the calculations. This report ISTAT statistics headquarters today. The report is better than analysts' expectations of 10.8% pointing. The number of people struggling to find a job will be decreasing as more women are losing their jobs than men. However, the current unemployment rate remains the worst since January 2004. In August 2011, the average unemployment in Italy is at 8.4%. "For the first time since September 2011, we see the number of people looking for jobs in one month is reduced," said commentator ISTAT. However, the statistics agency refused to assume a recovery trend can be called better because it is still too early. Italy's economy has been contracting since the summer of 2011, affected by the decline in domestic demand amid steeper tax enforcement and tighter monetary policy. The number of people who are unemployed in this country fell 0.3% in August compared to the previous month, which is the number of 2.74 million. The average unemployed residents aged 15 to 24 fell to 34.5% in August from a record in July, 35.0%. Approximately 593 000 people aged 15 to 24 years old is still looking for work. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 1, 2012 Author Report Share Posted October 1, 2012 News and Review of European Economic Zone After Asia, Europe Turn Release PMI Monday, October 1, 2012 After manufacturing data released Asian countries negatively, PMI Europe will clarify the global economy at the end of the third quarter. Business survey report and Asia data releases today showed the fragility of global economic fundamentals. But sentiment has not been completed because of some European countries are also preparing to release figures Purchasing Managers Index (PMI) of his day. Italy, France, Germany and several members of the euro zone will release the manufacturing sector indicators in the morning local time Monday starting at 14:15 pm. Then followed by the EU unemployment data a few hours later at 16.00 pm. The results of these data releases will determine the fate of the euro exchange rate. If most of the data released lower than expected and a record last month, the euro vulnerable to a correction. EUR / USD is currently perched at 1.2857 after the release of impressive Spanish PMI data. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 2, 2012 Author Report Share Posted October 2, 2012 News and Review of European Economic Zone (Spain) Rajoy: Spain Europe Zone Bailout Will Have The Final Week Tuesday, October 2, 2012 Spanish Prime Minister Mariano Rajoy told the local leaders of the conservative Popular Party on Monday evening, that the government does not plan to ask for a bailout from the European Union at the end of this week, local media reported by Europa Press, citing sources from the Popular Party. Comment from Rajoy came after Reuters news agency reported late on Monday that Spain was ready to ask for a bailout of the euro zone at the end of this week. Rajoy held a dinner for local leaders of his party ahead of a meeting with the governors of the 17 regions of Spain on Tuesday with the central government. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 2, 2012 Author Report Share Posted October 2, 2012 News and Review of European Economic Zone (Spain) Spanish Labor Market Aggravated Tuesday, October 2, 2012 Record unemployment in Spain has yet to reach its peak. Data today showed that jobless claims in the country's fourth largest economy Europe rose 1.7% between August and September 2012. Department of Labor said the number of unemployed people rose 79,645, but still lower than the increase recorded in the same month last year (95,817). But the number of lonjakannya equivalent numbers reached in September 2009. When compared to the total unemployment claims in September last year, this year's numbers jumped 11.3% or 478,535 to 4.71 million people. The high number of residents who do not work further burden the state coffers as post allowance also rose. In August alone, the number receiving unemployment benefits rose 6.3% to 2.96 million people. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 2, 2012 Author Report Share Posted October 2, 2012 News and Review of European Economic Zone European Leaders Confront Anxiety in October Tuesday, October 2, 2012 Europe will face a month that could determine the success of the European Central Bank's efforts to end the debt crisis, starting with today's talks in Athens between international creditors and the Greek government. The leaders of 17 countries in Europe will face a tougher stance from Germany, led by the pro-austerity riots in Spain because of budget cuts planned by the government and the separatist movement in Catalonia. The first meeting of the third summit in the next three months are called "crucial" by EU President Herman Van Rompuv, set for 18-19 October, as investor sentiment for the euro area surged in September has been on the wane. People started to look at this in a more thoughtful "after plans for bond purchases by the ECB and the decision of the High Court in Germany allowed funding bailout has spurred the strengthening of the euro over the past month, Clemens Fuest, an economist at Oxford University's Said Business School, said in a interview yesterday. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 3, 2012 Author Report Share Posted October 3, 2012 News and Review of European Economic Zone (Spain) Rating Spanish 'Maybe' Truncated More Than One Level Wednesday, October 3, 2012 Moody's has signaling if the review long-term Spanish debt rating will be announced before the end of this month. A downgrade to the level of 'junk' is a certainty that bad, let alone more than one level downgrade, according to a trader. Andrew Brenner, head of international fixed income at National Alliance Capital Markets, said he was still worried about banks' capital shortfall estimated Moody's may be far greater than the number that was announced officially by Spain on Friday. Brenner also reminded of the persistence of the risk of Spanish debt yields spike, which may force Spain to seek international assistance. It will also activate the bond purchase program as the European Central Bank efforts to alleviate financial difficulties and, in turn, could potentially push risky assets. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 3, 2012 Author Report Share Posted October 3, 2012 News and Review of European Economic Zone (UK) The British government should act more Wednesday, October 3, 2012 Prime Minister David Cameron should take further measures to restore the economy, according to the Association of the UK (BCC). Ahead of the annual meeting of the ruling party's conservative government, BCC calls for the government to issue a policy to boost investment in infrastructure and facilitate the flow of credit to the corporate world. "The performance of the UK economy is still weak. Stagnation of the economy has been going on long enough so that the necessary policies to ensure the sustainability of the economic recovery," said David Kern, BCC chief economist. The UK economy has experienced a contraction for three consecutive quarters. Some weakening of economic activity comes from British drastic austerity policies aimed at protecting the UK from the euro-zone debt crisis. "Economic activity is still weak. Optimism is reduced and the business world are not so keen to increase investment when compared to the beginning of the year," said John Longworth, chairman of BCC. "Quite clearly, the government needs to take measures to stimulate economic activity and reduce the budget deficit." Meanwhile, sterling looks difficult to continue the momentum of strengthening in the New York session. GBP / USD is now trading 1.6138, try to avoid high levels of daily 1.6169 Quote Link to comment Share on other sites More sharing options...
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