News and Reviews European Economic Zone

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News and Review of European Economic Zone

 

EU Summit Will Find Solutions Unemployment

Thursday, June 27, 2013

 

Today (27/6), Summit (Summit) The European Union will take place and one of the agenda is to address the unemployment rate has reached a record high.

 

In June this year the unemployment rate in the European Union has reached 12.2%, or about 19 ​​million people, is much higher than previous years 'only' 11.4%.

 

In June last year, the European Union summit agreed on one attempt to reduce the unemployment rate by forming the European Investment Bank (EIB). The agency responsible for distributing funds lending to small and medium enterprises (SMEs) that need fresh funds to turn its business.

 

Government within the European Union has set aside a fund of 10 billion euros for the EIB. But until now, the EIB has not also distribute those funds. EIB is still struggling with the rules of lending which is only given to high-quality borrowers.

 

In today's summit will discuss the lending rules are more lax so that the loan can be disbursed quickly.

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News and Review of European Economic Zone

 

EU Agrees Handling Bank Bankrupt

Thursday, June 27, 2013

 

EU finance ministers have reached agreement on how to deal with insolvent banks to boost investor confidence and help mengataasi eurozone financial crisis.

 

In a meeting for 7 hours in Brussels, finance ministers have approved a number of policies to provide partial losses to private lenders when banks went bankrupt and regulate state aid.

 

The finance ministers also agreed on when the government can go in and set the role of the European Stability Mechanism (ESM).

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News and Review of European Economic Zone (Spain)

 

Spanish Inflation Rises in June

Thursday, June 27, 2013

 

Spain inflation rose in June, largely due to higher prices for fuel and lubricants, are shown in the official data on Thursday.

 

In the initial estimate for this month, the National Statistics Institute (INE), said that the Spanish consumer price index is aligned with the European Union rose at an annual rate of 2.2% in May compared with that at the level of 1.8%.

 

The European Central Bank aims to keep the current annual inflation in the euro zone to remain below, but close to the level of 2% over the medium term.

 

Spain with its own methodology, the CPI index rose to 2.1% in June, compared with an increase of 1.7% in May.

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News and Review of European Economic Zone (Ireland)

 

Irish economy contracts for third straight quarter

Thursday, June 27, 2013

 

Ireland's economy had contracted for a record third consecutive quarter as continued weakness in the Euro zone and terpukulnya demand for exports from the UK. Based on Central Statistics Office reported on Thursday, Ireland's GDP shrank 0.6% in the first quarter of the last 3 months of last year, and fell 0.9% compared with the same period in 2012.

 

Slowdown in economic activity has the potential to trigger new doubts among bond investors about the country's ability to repay debt is significant, so the dashed hopes of the government to immediately escape from dependence on the bailout.

 

The data also brings a blow to the euro zone policymakers, who had hoped Ireland would be a rare example of a successful implementation of austerity measures.

 

The Irish government will still receive a disbursement of bailout last stage of this year, as agreed with the EU and IMF at the end of 2010. But henceforth, the government had to fend for themselves to get a loan from the bond market to finance its budget deficit is still large.

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News and Review of European Economic Zone

 

EU Melt 8 Billion Euros For Youth Unemployment

Friday, June 28, 2013

 

European leaders on Thursday (27/6) has agreed to set aside funds amounting to 8 billion euros to combat youth unemployment.

 

The financial crisis that has plagued Europe for over 3 years led to economic growth in the region fell sharply, especially coupled with budget austerity program to cut spending, has made the unemployment rate rose significantly.

 

Youth unemployment in Greece and Spain has reached almost 60%. While in Italy and Portugal, the youth unemployment rate is above 40%. Overall nearly 6 million young people between the ages of 15-24 years did not get the job.

 

In the EU economic summit that took place yesterday, the leaders have agreed 8 billion euro budget for memnbantu reduce youth unemployment. These funds will be available in early 2014 and will be budgeted for the next 9 years in the EU budget.

 

These funds will be used to provide employment for youth, job training programs for 4 months for young people who just graduated school, etc..

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News and Review of European Economic Zone

 

ECB Denies Consider QE program

Friday, June 28, 2013

 

The ECB has denied reports the German newspaper wrote that the central bank to consider a new bond-buying program that would buy bonds 17 countries in the euro zone. Daily Sueddeutsche Zeitung reported on the discussions on the proposed ECB purchases all euro-zone government bonds based on the portion of each country's GDP. The stimulus plan will be similar to quantitate easing program (QE), which has been run by the Federal Reserve.

 

"The article is wrong," said ECB spokesman told Reuters. "When the President of the ECB, Mario Draghi, said the central bank assess the overall policy intention is how to drain back credit to the real economy. Draghi signaled no desire to undertake Quantitative Easing."

 

Meanwhile, the euro still maintain the reinforcement in the London session. EUR / USD is now trading 1.3048, try to stay away from daily lows 1.3029

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News and Review of European Economic Zone

 

Eurozone PMI Lift Euro, Dollar Bullish Trend Still There

Monday, July 1, 2013

 

The euro rose against the dollar on Monday after data showed euro zone manufacturing sector activity to be stable, but gains limited given the expectation that the regional economy will be left behind by the U.S. economy. The dollar rose to its highest level in almost four weeks against the yen and is expected to push up higher in the prospect of withdrawal of stimulus by the U.S. Federal Reserve, although other central banks keep policy loosening.

 

Eurozone manufacturing PMI index hit a 16 month high, indicating the manufacturing sector downturn eased. Spain and Italy are also showing signs of recovery. "So far the euro / dollar moves up, but we expect the pair to move down in the coming months," said Elsa Lignos, currency strategist at RBC.

 

U.S. payrolls report on Friday will be the key. Good data will push the dollar by fueling speculation trimming program of bond purchases worth 85 billion dollars per month by the Fed. "Positive sentiment towards the dollar will remain there as long as there is uncertainty about the Fed tapering," said Lutz Karpowitz, currency analyst at Commerzbank.

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News and Review of European Economic Zone

 

Spanish & Italian manufacturing Help Euro

Monday, July 1, 2013

 

The euro rose after Spanish and Italian manufacturing data give hope for improvement in the economic situation in the euro zone. Spain's manufacturing index rose to 50.0 for the month of June; better than expected 48.9 and 48.1 prior publications. Italy's manufacturing index rose to 49.1, higher than the previous estimate of 47.8 and 47.3 publications. EUR / USD is now trading 1.3050; away from daily lows 1.3004.

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News and Review of European Economic Zone

 

German Retail Sales Helps Euro

Monday, July 1, 2013

 

The euro extended gains after German retail sales data provide additional evidence for a continuing growth momentum largest economy in the euro zone. Retail sales increased 0.8% for the month of May; better than expected 0.2% rise and the previous publication was revised down 0.1%. EUR / USD is now trading 1.3070; away from daily lows 1.3029

 

The protracted euro zone debt problems and drastic austerity measures the government has made some members of the euro zone into recession. Although Germany managed to avoid debt problems but there are fears Germany may experience a mild recession as neighboring France. However, the good retail sales data and labor released yesterday has given hope to the continuing momentum of economic growth in Germany.

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News and Review of European Economic Zone (UK)

 

Mark Carney, Governor of the Central Bank of the World's Most Expensive

Tuesday, July 2, 2013

 

As the new commander in Britain's highest monetary authority, Mark Carney is no light task. In the midst of the poor performance of the domestic economy country of Queen Elizabeth, he was responsible for making the pro-growth policies.

 

Mark Carney is required in order to create equilibrium between inflation and demand in order to increase the absorption of credit by businesses and individuals. Than its predecessor, Mervyn King, Carney task is arguably more severe because not only covers the determination of the reference interest rate and the amount of asset purchases. Former Governor of the Bank of Canada is also faced with a new job and the setting up banking operations in the UK financial system.

 

Appointment Carney as head of the Bank of England may be the most appropriate step ever taken of George Osborne. Well established reputation for the highest seat in the Bank of Canada in recent periods. Harvard University economist is always in the list of top bankers when working in financial firms Goldman Sachs. So, what price must be redeemed by the British to use the services of Mark Carney?

 

Remuneration package Carney reported approximately $ 1.3 million per year, including salary, benefits and living facilities. The amount is greater than the number received by the bankers of financial institutions of other countries, such as the CEO of the Hong Kong Monetary Authority, Norman Chan who enjoy a package of $ 1.2 million in 2012.

 

Even when compared with other top executives, Carney salaries like the earth and sky. Mario Draghi alone, who must 'take care' of the monetary system in the 17-nation euro zone, "only" paid $ 488,000 plus homes from the European Central Bank last year. Not to mention when compared with the figure in the world's most famous governor, Ben S. Bernanke, who 'only' rewarded with an income of $ 200,000. Outside Asia, the only head of the central bank's income only Thomas Jordan approached Carney (governor of the Swiss National Bank) with an annual salary worth $ 1.17 million, including pension benefits. "I left the area of ​​the city with the most expensive cost of living in the world (Ottawa) to other cities that are not less expensive, 'said Carney in February. Audiences and the media seem not argue about the remuneration package for central bank policy Carney later according to his CV flashy.

 

At his first meeting with the board of the Bank of England on Thursday, Carney has not released any strategic policy. Investors have anticipated this, however, because he took the time to read a map monetary and UK economy is in chaos. Even if there are crucial decisions to be taken, for example related to the determination of interest rates, the realization will occur most rapidly during a meeting in August. Regardless of what kind of strategy will be the central bank, the public can only hope the UK economy as shiny paycheck received the governor.

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News and Review of European Economic Zone (Spain)

 

Holiday Season, Spanish Unemployment Decreases

Tuesday, July 2, 2013

 

The good news emerging from the country of Spain, which is suffering from chronic economic crisis. Recent data indicate that the number of job seekers in the country fell for four consecutive months (until June), as well as indicating the phase immediately following the national economic recession.

 

Spanish labor ministry on Tuesday said the number of people who fill out the form for unemployment benefits dropped by 2.6%, equivalent to 127 249 people between May and June. Thus, the number of people who still live pleading unemployment benefits 4.76 million to date. Ratio of unemployment claims decline in the country's fourth-largest economy was the biggest world (monthly) in history.

 

June is often a month of blessing for the people of Spain. Given in this month absorption of labor each year tended to improve as the European summer vacation approaching. The decrease in demand for allowances in June this year is much higher than the same period of record in 2012, which amounted to 98 853 people.

 

However, if calculated on an annual basis, unemployment claims in June rose by 3.2%. Similarly, the allowance claims are adjusted for seasonal factors, the numbers increased by 996 between May and Junia this year.

 

Unemployment problem is a burden to be borne by the European countries, especially those who are trapped in a debt crisis. In the first quarter, the Spanish unemployment rate is at all time highs at 27.2% or the highest unemployment ratio after Greece. Exchange rate of EUR / USD is currently trading at 1.30674.

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News and Review of European Economic Zone (Greece)

 

Greece Have 3 Days to Respond Ultimatum Troika

Tuesday, July 2, 2013

 

Party Troika (the European Central Bank, International Monetary Fund and the European Union) reported a strong message to the government of Greece. Being entangled in the crisis countries was required to keep its promise to meet the requirements of the previous bailout.

 

Greece has three days to convince the troika that the government is able to complete all the obligations imposed on the previous bailout clause. If not, the Athena will not be given an injection of further funds worth 8.1 billion euros, equivalent to $ 10.59 billion sebagiamana agreements signed by both parties, Reuters reported some time ago. Authorities warning comes amid negotiations between the Greek government and international lenders, where the main discussion focused on loans advanced.

 

As is known, Greece failed to meet the points requirements in terms of public sector reform. After the recession for 6 years, the government has also not been able to save on the budget of postal enterprises and state institutions. Greek parties are now required to explain the reasons that convinced about the obstacles and challenges they face in the presence of the creditors on Friday. If the government representatives failed to expose a valid argument, then the next loan of 8.1 billion frozen threatened. Exchange rate of EUR / USD is now observed at the level of 1.30259.

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News and Review of European Economic Zone

 

Chancellor Merkel: Greek Haircut Will not Occur

Wednesday, July 3, 2013

 

German Chancellor ensure that the Greek government had successfully smoothed post-crisis balance sheet a few years ago. Angela Merkel's comments appeared after seruang Troika on Greece Antonis Samaras about the slow pace of the government to improve efficiency in the public sector.

 

"Greece made progress means thanks to Antonis Samaras and colleagues, who managed to carry out reforms," ​​he told the media praised Merkel Sueddeutsche Zeitung. The chancellor also hoped that the budget balance continues until the ideal target is reached. When asked whether the holders of Greek debt will be forced to accept losses of government bankruptcy (haircut), Merkel said firmly that it will not happen. "I do not see the potential for another haircut," he said.

 

As is known, the Troika (European Central Bank, International Monetary Fund and the European Union) yesterday gave a stern warning to the Greek government. Being entangled in the crisis countries was required to keep its promise to meet the requirements of the previous bailout.

 

Greece has three days to convince the troika that the government is able to complete all the obligations imposed on the previous bailout clause. If not, the Athena will not be given an injection of further funds worth 8.1 billion euros, equivalent to $ 10.59 billion sebagiamana agreements signed by both parties. As is known, Greece failed to meet the points requirements in terms of public sector reform. After the recession for 6 years, the government has also not been able to save on the budget of postal enterprises and state institutions. Greek parties are now required to explain the reasons that convinced about the obstacles and challenges they face in the presence of the creditors on Friday. If the government representatives failed to expose a valid argument, then the next loan of 8.1 billion frozen threatened. Exchange rate of EUR / USD is now observed at the level of 1.29545.

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News and Review of European Economic Zone (UK)

 

UK Service Sector Growing With Fastest Rate in June

Wednesday, July 3, 2013

 

UK service sector grew at the fastest pace in more than 2 years in June, according to survey results released Wednesday, fueling optimism in the economy and provide more good news for Mark Carney in his first week as governor of the Bank of England. Number of new orders in the service sector also rose in the fastest pace since June 2007, while the survey of private sector activity generally refers to solid economic growth in the second quarter.

 

Released following the good manufacturing data on Monday, these data suggest that the UK economy may not need additional stimulus to achieve what is said Carney as "out quickly". Services sector PMI index by Markit and the Chartered Institute of Purchasing and Supply, rose to 56.9 in June from 54.9 in May, higher than economists forecast. "With this strong growth is very difficult to see any member of the Monetary Policy Committee pengusulkan additional quantitative easing," said Chris Williamson, chief economist at Markit.

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News and Review of European Economic Zone (Portugal)

 

Barroso: Portugal Threatened Financial Credibility

Wednesday, July 3, 2013

 

The risk of political crisis in Portugal threaten "financial credibility" that the government has built since last 2 years through a number of austerity measures and economic reforms, according to a statement by European Commission President Jose Manuel Barroso. Barroso also added that if he continues to monitor any development of the situation with "very serious".

 

"The initial reaction of the market shows a clear risk that the financial credibility that has been built by the Portuguese government could be threatened political instability at this time," Barroso said in a statement on Wednesday. "If it does happen it would be very damaging to confidence in the Portuguese, especially because they have seen early signs of economic recovery."

 

Euro back under pressure on Wednesday after Foreign Minister Paulo Portas sebegai resigned in protest over the government's austerity policies. A move that sparked doubts about the future of the coalition government. Earlier this week Finance Minister Vitor Gaspar, who became the architect of Portugal austerity policies, has also resigned.

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News and Review of European Economic Zone (Portugal)

 

Prime Minister of Portugal Try Stabilize Situation Politics

Thursday, July 4, 2013

 

Prime Minister Pedro Passos Coelho attempted to stabilize the political situation in Portugal after securing an effort to get out of the EU's bailout program. Coelho said his government will be able to navigate the crisis created by the resignation of Paulo Portas, head of one of the parties supporting the coalition government. There Portas fears his party would withdraw support from the coalition government.

 

CDS-PP party, led Portas, disagree if the government continues its policy of austerity in the midst of high unemployment and protracted economic recession. However, the government did not have much choice but to carry out austerity measures to secure bailout funds disbursement and get support when the EU and IMF bailout Portugal out of the program. Portas will discuss with Prime Minister Coelho to find the best solution to overcome the differences in political attitudes, but the market remains concerned that the coalition government will not last long. Reflected the concerns of surging borrowing costs of the Portuguese government bond reached 8% and the stock market collapse of Portugal.

 

Meanwhile, the euro weakened thin record in the Asian session. EUR / USD is now trading 1.2994; trying to stay away from daily highs 1.3022

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News and Review of European Economic Zone

 

Chancellor Merkel worry about European Unemployment

Thursday, July 4, 2013

 

Although hit by the crisis in different dimensions, almost all developed countries actually experienced the same typical problems: labor. German Chancellor, Angela Merkel, even giving serious attention to the lack of employment opportunities for the youth of Europe.

 

At the European summit in Berlin, German Chancellor discuss the need for new measures to solve the problem of unemployment. European leaders agreed to set aside 6 billion euros for the expansion of productive employment for the age, but do not know that much money would be used to program anything.

 

Statistics show that 23% of residents under the age of 25 years do not have a job in the United States. That is, about 1 in 4 young group did not have a livelihood to sustain personal and household needs. The ratio of unemployment contribution contributed by the two biggest economies in the region that is most troubled Greece and Spain. In Germany the unemployment rate was maintained at the level of earning 7.6%.

 

Merkel targeting the opening of new jobs in the Southern Europe region, an area where many countries are keen to tighten spending budget. European leaders did not close over cash injection for the betterment of labor, as long as the agreed date funds can be used for a powerful program. "I think the money is not a problem. Money can find it again as long as we are able to open opportunities (employment) for all European citizens," he concluded.

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News and Review of European Economic Zone (UK)

 

House Prices in England Touches Highest Level 3-Year

Thursday, July 4, 2013

 

In the UK housing market continues to show signs of a sustained recovery in June, referring to reports of Halifax on Thursday. In the annual rate, house prices in the UK has recorded its strongest growth in almost 3 years.

 

Halifax report, which is a business unit of Lloyds Banking Group, showed home prices rose 0.6% in June and 3.7% higher than the previous year. It encourages the growth of median house prices in the UK rose to £ 167,894 ($ 256,232), which is the highest since August 2010.

 

"Increased confidence in the housing market and economy, combined with the lack of inventory property for sale, appears to have boosted home prices," said economist perumamhan Halifax, Martin Ellis. "Funding for Lending Scheme, launched the central bank might also have helped the market by pushing mortgage rates. Preliminary indications are that the funding may also stimulate demand."

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News and Review of European Economic Zone (Italy)

 

IMF: Italy's Economy Still Fragile

Friday, July 5, 2013

 

Prime Minister of Italy Enrico Letta still faces an uphill battle to help his country out of the longest recession in more than two decades, the IMF said.

 

The country with the third largest economy in the euro zone "showing signs of recovery, but weaker in some areas still hold the recovery," the IMF said in its report. "Growth prospects are weak, the unemployment rate is still high, and the market sentiment is still fragile."

 

IMF lowered growth outlook for Italy this year, and said that their GDP will fall 1.8%, compared to a forecast in April that will be down 1.5%. Economy will grow about 0.7% in 2014, up from a previous estimate of 0.5% figure.

 

Although the austerity measures already validated by the Letta predecessor Mario Monti, but it is still allowed Italy to reduce the deficit within the EU policy, because they are also experiencing a decline in the cukkup. With the economy toward contraction for the eighth quarter and unemployment reached its highest level since 1997, Letta cabinet last month decided to postpone the sales tax increase and property tax payments.

 

"Italian growth prospects in the medium term will be strengthened only by the application of a comprehensive reform," the IMF said. The increasing number of jobs and improving productivity and competitiveness is a major issue that must be handled, according to the report.

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News and Review of European Economic Zone (Greece)

 

Greece: Bailout Agreement will be Reached

Friday, July 5, 2013

 

The Greek government is optimistic to reach an agreement with the Troika (European Union, International Monetary Fund and European Central Bank) related to the disbursement of further bailout worth 8.1 billion euros. If negotiations go smoothly, then the agreement could be brought into the forum of finance ministers meeting next week.

 

This belief is expressed by the finance minister, Yannis Stournanas, for 3 hours after the meeting with the Troika and the prime minister Antonis Samaras. "There is progress in all subject matter, although negotiations are still going to take place tonight, tomorrow and so on," he said Stournanas today. He said it would soon reach an agreement (about bailout) on Monday.

 

Greek finance minister's comments appeared shortly after the European Union warned the creditors and Athens to quickly find consensus before the meeting ended Monday. If the agreement fails to be achieved, then the Greek government was forced to run without partial bailout of 173 billion euros the total lent by the European GOI and colleagues.

 

As we all know, Greece is facing a sentence related to post-petition continued bailout bailout program earlier. Antonis Samaras government has until next Monday to convince the authorities that they were able to complete the tasks that have not paid off. Some important mandate is not yet capable fulfilled by Greece, ranging from reform of the civilian workforce, optimize revenue from the sale of assets to savings in the public health sector. Referring to the failure of Athens to meet that requirement, the EU should have closed the door to the disbursement of subsequent bailout. But of course it is not a policy desired by the Greek and most financial market participants. Kindness of the Troika is now widely expected that the debt crisis aura no longer come to the surface.

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News and Review of European Economic Zone

 

ECB's Asmussen Denies Threat to the Cyprus News

Friday, July 5, 2013

 

Die Welt German media today reported that one member of the executive board of the European Central Bank (ECB) threatens the Cypriot government. Joerg Asmussen reportedly not willing to sign a bailout deal during a meeting with the president of Cyprus on Wednesday.

 

Asmussen said to threaten termination bailouts to Cyprus because the government continues to urge the relevant country's central bank in order to alleviate the national reform scheme. President of Cyprus last month did write a formal letter to the European authorities and asked that the target pruning reduced. Cyprus objected to several points in bailout clause as difficult to fulfill.

 

Responding to the news, the ECB immediately spoke up today. "Asmussen does not threaten disconnection fund European Stability Mechanism (ESM) during a meeting with President of Cyprus yesterday," said a spokesman for the ECB said in a statement to the media via e-mail.

 

ECB spokesman confirmed that Cyprus is negotiating with the ECB President, Mario Draghi, Joerg Asmussen and members of the Executive Board, Benoit Coeure in Frankfurt. There is no decision of the meeting of the two parties so that the news media before the official statement is invalid.

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News and Review of European Economic Zone (Germany)

 

German Manufacturing Orders Data Back Disappointing

Friday, July 5, 2013

 

German manufacturing orders data in May again disappointing market participants. Manufacturing orders report Europe's largest economy released is lower than expected.

 

Germany Manufacturing orders fell 1.3% in May compared to April last record, where the ratio reached 2.3% decline (revised). Similarly, data released by the Economics Ministry. The results well below analyst estimates forecast a gain of 1.2%.

 

The Ministry recognizes that the level of German factory orders are very volatile products in recent times. Portrait of manufacturing activity is relatively the same compared to last April, where the lack of domestic demand components contribute greatly to the overall order. Domestic orders fell 2.0%, following a decline of 3.2% in April. While foreign orders declined 0.7% compared to the previous month ratio decreased by 3.9% due to lack of demand from the Eurozone markets. Yet at the same time the number of orders from non-euro area rose 1.1%. The euro exchange rate is currently observed at the level of 1.28778.

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News and Review of European Economic Zone (Ireland)

 

Trimming Request Shopping Irish businessman Revised

Monday, July 8, 2013

 

Budget cuts imposed by the Irish government to reap the rejection of various parties, not least among domestic entrepreneurs. Entrepreneur and Business Players Association of Ireland (IBEC) has asked the government to reduce the share of state spending reductions for the year 2014 in order to protect the domestic economy. Thus the official opinion of the association to the media crew on Monday (08/07).

 

IBEC ask Irish Finance Minister, Michael Noonan, in order to continue to implement efficiency but reviewing verdict tax increases. The government is also expected to reduce the number in spending cuts proposal of 3.1 billion euros to 2.6 billion euros. Such adjustment is considered sufficient to meet the fiscal targets agreed with the giver bailout. Furthermore, a more human efficiency is claimed to build consumer confidence, create jobs and stimulate spending domestic products.

 

Official data last month showed the recovery is government crisis in Ireland has not been appropriate public expectations. The country's economy slowed for three straight quarters through the quarter ended March. Decline in purchasing power and spending the Euro zone also impact on the performance of Irish exports last year.

 

Under the agreement signed by the government bailout, the European Union and the International Monetary Fund in late 2010, Ireland agreed to cut national budget and raise taxes. Thus, the ratio of debt this country can go down from around 7.6% of GDP (in 2012) to less than ideal percentage of 3% in 2015.

 

IBEC recommendations in line with the aspirations of the union, which has long refused point cut version of Michael Noonan. Representatives of the workers argue that the government should be able to explore other revenue sources more effectively. Noonan was assessed as having space efficiency by raising taxes on the rich individuals.

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News and Review of European Economic Zone

 

Eurozone sentiment weakens in July

Monday, July 8, 2013

 

Sentiment in the euro zone dropped in unexpectedly in July after two months of reinforcement as Portugal crisis poses a threat to the government bailout program and investors try to identify the drivers of growth, according to a survey on Monday. Sentix said eurozone investor sentiment index fell to -12.6 in July from -11.6 in June, below economists' forecasts for a rise to -10.

 

"Although seemingly last month we have passed the peak period at the beginning of the year, the majority of investors can not imagine the additional momentum in today's economy," according to a statement Sentix. "Depressed overall index by Portugal government crisis. Yagn It is also common in March, as investors worried by uncertainty about Italian efforts to form a government."

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News and Review of European Economic Zone

 

EU / IMF: Greece Aid Outlook Still Not Surely

Monday, July 8, 2013

 

Outlook for Greek bailout program remains uncertain, with the persistence of the difference between the Greek government and its creditors, according to the European Union and the International Monetary Fund on Monday. "While Greece continues to make significant progress, the implementation of policies in a number of areas lagging behind," according to the troika about Greece's bailout program, which will be discussed later.

 

"The Greek government has promised to take steps to ensure the achievement of targets koerksi fiscal years 2013-2014 and reached a major milestone this year," according to the troika. "Troika and the Greek government agreed that the macroeconomic outlook is in line with the outlook assistance program, with the prospect of a gradual recovery towards growth in 2014. Outlook remains unclear."