News and Reviews European Economic Zone

[mynameisandhy]

News and Review of European Economic Zone

 

The rate of decline in the Euro Zone Employment Rate Slows

Friday, September 13, 2013

 

The number of people working in the euro zone declined again in the second quarter of this year but in a slower pace, reinforcing hopes that the recovery in the European bloc berjakan may be slow to gain momentum. Employment rate in the euro zone fell by 0.1% in the second quarter compared with the first quarter, which is far less than the previous two quarters, according to European Union statistics office Eurostat on Friday.

 

Successful euro zone emerged from recession in the second quarter, ending the longest recession since the creation of the euro zone in 1999, while the unemployment rate fell for the first time in 2 years in June. However, the recovery is still weak and still rely on the export sector, and European Central Bank President Mario Draghi warned this week that the recovery is still "very, very weak".

 

Survey shows business sentiment is improving, but progress is still slow on real data today, highlights the unexpected decline in the level of industrial production in the euro zone in July. Employment rate in the euro zone has never been in positive territory since the beginning of 2011 and the unemployment rate in Greece has risen to 28%.

[mynameisandhy]

News and Review of European Economic Zone

 

ECB: LTRO Returns Next Week Slump

Friday, September 13, 2013

 

The refund loans received Euro zone banks through the Long Term Refinancing Operation (LTRO) will decline next week after increasing in the previous 2 weeks, according to the report of the European Central Bank on Friday.

 

The ECB said that the two banks will refund € 741 million ($ 985.83 million) first phase of LTRO loans issued in December 2011. While 3 other banks will pay € 2.38 billion loan from the 2nd stage LTRO which was launched about 2 months later.

 

Although the total loan will be returned next week remains under € 5.9 billion paid this week, next week the numbers are still far above the record low of € 305 million were recorded in the last 2 weeks.

 

Until now, about € 329 billion of the total € 520 billion in soft loans disbursed by the ECB into the euro zone banking system was restored.

[mynameisandhy]

News and Review of European Economic Zone (Italy)

 

Olli Rehn Italy worry Conditions

Friday, September 13, 2013

 

Italy needs political stability to be able to overcome the economic difficulties and the onslaught of bad economic data, according to the head of the Commission of the European Union economic and monetary affairs, Olli Rehn, on Friday.

 

Rehn added under the Italian government should "concentrate on economic reform" and highlighted the recent Italian economic indicators that are "not so good".

 

Itaia industrial output fell 1.1% in July from a year earlier, according to data released by the European Union's statistics agency, Eurostat, on Thursday. While the Italian GDP Q2 also recorded depreciation 0.2% from the same period a year earlier, in the wake of a euro zone recession 18 months.

 

At the beginning of this week, the yield on Italian 10-year bond yields pushed up beyond the Spanish for the first time in recent years with the proliferation ½ concern that former Italian Prime Minister, Silvio Berlusconi, his party would withdraw support from the coalition government if he was expelled from the Senate after snagging case tax evasion.

[mynameisandhy]

News and Review of European Economic Zone

 

ECB's Draghi: Euro Zone Recovery Still 'Fragile'

Monday, September 16, 2013

 

European Central Bank President Mario Draghi on Monday said that the eurozone economy is still "fragile", the unemployment rate "still too high" and he reiterated that eurozone central banks still maintain low interest rates.

 

At a speech at an industry event in Berlin Germany, Draghi said that the eurozone when economic growth of 0.3 percent in the second quarter is still acceptable, "the recovery is still in its infancy."

 

In July, the ECB left the tradition that had yet been done previously on the action for the future of the so-called "forward guidance" that said it would keep interest rates low at current or lower for a longer time, said Draghi reiterated his message at Monday.

 

"Given the overall outlook is still weak inflation in the medium term, the Board of Governors ECB expected that ECB interest rates remain at current levels or lower for a long time," said Draghi.

 

He also said that the government's efforts to consolidate and OMT bond purchase program (Outright Monetary Transaction) of the ECB has helped to bring about improvements in the market.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

Sterling Construction Data catapulted England

Monday, September 16, 2013

 

Sterling soared to 7-month highs against the U.S. Dollar on Friday after the latest UK data added to evidence that the economic recovery was gaining momentum, fueling speculation that interest rates rise faster than projected policymakers. UK construction, which accounts for about 6.3% of the economy, accelerating from June's 2.2% and 2% higher than the previous year, according to the Office for National Statistics in London. Industry report also showed the average price of homes rose 0.4% in August to £ 233,776.

 

"Positive surprise that presented economic data make Sterling has enough space to continue rising in the short term," said Arne Rasmussen, head of currency research at Danske Bank A / S in Copenhagen. "Compared Dangan Bank of England, the market looks more optimistic about the economic outlook. BoE projections but we think ultimately will be proved right, so the momentum will dampen the appreciation of Sterling."

[mynameisandhy]

News and Review of European Economic Zone (Greece)

 

Financial Institutions Raise Growth Targets Greece

Tuesday, September 17, 2013

 

Greek state 's economy slowed again in the second quarter of 2013 with a period of contraction ratio reached 4.6 % compared to the same period last year . Nevertheless , the economy in the country as a whole began to improve.

 

Greece was treading recession for sixth year in a row due to budget cuts stuck in a program and agenda of national debt reduction . In the first quarter of this year Greek contraction rate is 5.6 % . Slowing the rate of decline is in line with analysts' forecasts , where the economy is believed to have turned positive in 2014 .

 

After the first official entry in the phase of recession , the unemployment rate in Greece jumped to 27.6 % (data May ) marked the highest record in modern history. Just one month , the ratio of people without jobs increased by more than half a percent of 27 % in April . The biggest concern at the high number of residents pursed young age ( 15-25 years ) who do not have a fixed income , the ratio reached 65 % . Rate calculation includes calculation of absorption in the human resources during the holiday season , where Greece is one of the most in demand tourist destinations in Europe . While the number of people who lost their jobs have gone up almost 200,000 to a total of 1:38 million people in the last 12 months . In total over the past 5 years , the escalation of the crisis has led to 1 million people in the category of unemployed.

 

Regardless of the lack of the facts mentioned above , Greece assessed to be in the correct path toward restoration. This opinion was expressed by the financial institution UBS , which has just raised its forecast for the Greek economy for 2013 from minus 4.5 % to minus 3.9 % . As for next year , UBS believes growth turned positive to 0.2 % or better compared to the previous expectation at level zero or nil . Upgrade economic projections made ​​with reference to the second quarter GDP report better than estimates and improving business sentiment in the third quarter . As a note , UBS feels that the economic equilibrium is achieved faster if the current state is maintained .

 

" Target Greek fiscal and financial balance will be achieved in 2013 , as well as the performance of the current account . In 2014 , these countries will be able to print a surplus , " commentator UBS in a research report . Even so , everything is still fairly crude estimate because the risk will always be there .

 

Greece has been experiencing an economic slowdown since 2010 , after being forced to reap loans worth a total of 240 billion euros from the European Union and the International Monetary Fund ( IMF ) . Disbursement of stimulus effects proved unable to boost state revenue post in the last two years . IMF predicts even Greece will still be short of funds to 11 billion euros in the next two years because of the burden of their mortgage debt greater than their economic earnings .

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK Inflation Rate Up 2.7 Percent in August

Tuesday, September 17, 2013

 

UK inflation rate slowed in August as the cost of transport and clothing prices rose less than the previous year.

 

Consumer prices rose by 2.7 per cent from last year, at least in the last three months, compared with 2.8 percent in July, in saying by the National Statistics Office in London on this day. That's according to the estimates of 34 economists surveyed by Bloomberg News. Core inflation, which excludes food and energy prices are volatile, still at the level of 2 percent.

 

BOE policy makers policy guidelines introduced last month, they pledged to keep interest rates low until unemployment fell to 7 percent over the inflation outlook is not missed. Governor Mark Carney told lawmakers last week that the price increase will slow to the central bank's target of 2 per cent in the next two years at least.

 

"Consumer price inflation should gradually weakened from the end of 2013," said Howard Archer, an economist at HIS Global Insight, who said before the data release. "Although signifies the strengthening economy lately, it seems unlikely to result in inflationary pressures significant for some time to come given the loosening of the economy after the prolonged economic activity is very weak. "

 

Contribution biggest decline in the annual inflation rate in August came from a vehicle fuel and air transport, as well as from clothing. Statistics agency said that the main cause of this decline comes from women's clothing.

 

From the previous month, consumer prices rose by 0.4 per cent, the smallest increase for the month of August since 2009.

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

German Investor Confidence Rise For Second Month

Tuesday, September 17, 2013

 

German investor confidence rose for a second month, signaling that the country with the upbeat attitude pereknomian largest in Europe will continue to grow amid global recovery.

 

The Zew Center for European Economic Research in Mannheim said its index of investor and analyst forecasts, which aims to predict economic developments six months ahead, rose to 49.6 in September from 42 in August. Economists had mempredikisi for reading 45, based on the median estimate of 37 economists surveyed by Bloomberg News.

 

Germany ready to benefit from the increasing demand of their products after the 17 nations in the euro area, which is the biggest partner, rose from the longest recession ever. Strong growth in the U.S. and China, the biggest economy in the world, also increases confidence, it's just that this time Germany entered last week for the election campaign. At the same time, the European Central Bank has repeatedly warned that the recovery in the eurozone remains fragile.

 

"Investor sentiment has turned out to be very positive with the news that show stabilization in the euro zone," said David Milleker, chief economist at Union Investment in Frankfrut GambH, before the release of the report. "Problem is, if we look at sentiment versus actual economic data, sentiment goes a little more in front of what is shown in the actual data. "

[mynameisandhy]

News and Review of European Economic Zone

 

ECB Will Not Be Tolerant High Cost of Funding

Wednesday, September 18, 2013

 

The central bank will keep funding costs do not rise too high, according to ECB board member Benoit Coeure. "We want to make sure that the interest rates on the money market did not react too much even for the publication of euro-zone economic data are positive. Market reaction should be according to the economic situation," said ECB's Coeure when interviewed by the daily Boersen-Zeitung. Interest rates in the money market has increased in the euro zone as the Federal Reserve signaled a desire to slow down the bond purchase program and also improving economic conditions in the zone euro.

 

ECB's Coeure also point out the central bank will not be bound by the results of the German Constitutional Court on the OMT bond-purchase program that has launched the central bank. German Supreme Court has initiated the review of the OMT program last June where the results can be announced this fall. Meanwhile, thin weakening euro recorded in the early Asian session. EUR / USD is now trading 1.3347; trying to stay away from daily highs 1.3358

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

Officials BOE Not Seeing The Case For Increase Stimulus

Wednesday, September 18, 2013

 

Bank of England policy makers voted unanimously to keep policy unchanged this month as the improving economic outlook that encourages consensus that additional stimulus is not needed anymore.

 

In the transition from August, when some members of the Monetary Policy Committee (MPC) saw a case that is "interesting" to ease policy, the results of the meeting minutes on September 3 to 4 indicates that "no member of the judge that further stimulus is appropriate at this time . "

 

Minutes, which was published on this day in London, also showed that the results of the panel voting 9-0 to keep the results are bond-buying program at level 375 billion pounds ($ 598 billion) and the benchmark interest rate unchanged at record low of 0.5 percent.

 

"Domestically, there are increasing signs that the recovery is ongoing," the BoE said. Recent data "indicate increased risk of growth profile" as published in the central bank's inflation report in August.

 

Britain's economy showed signs of improvement in strength in recent months, and the BoE staff now expect growth to 0.7 percent this quarter, up from 0.5 percent last month. MPC, led by Mark Carney, introducing guidelines on interest rate policy in the last month, they promised to keep interest rates low until unemployment fell to 7 percent.

[mynameisandhy]

News and Review of European Economic Zone

 

Eurozone Construction Output Rise For 4th Month streak

Wednesday, September 18, 2013

 

Construction activity in the 17 countries that use the euro recorded gains for 4th straight month in July, which is an indication amid ongoing economic revival in the region.

 

However, productivity growth is still stuck at the slowest pace in 4-months. While industry figures released last week showed a surprise decline in output in July. So that still leaves the question about the strength of the Euro zone economic recovery.

 

Data released by the European Union's statistics agency, Eurostat, on Wednesday showed construction output rose 0.3% in June, though still lower than the 1.2% growth in July 2012. Strongest output growth shown by Germany, with a 2.7% rise in July. Conversely, the worst decline in construction output seen in Spain.

[mynameisandhy]

News and Review of European Economic Zone (Italy)

 

Berlusconi Will Keep Paint Italian Politics

Thursday, September 19, 2013

 

Berlusconi confirms will still color the world of Italian politics although parliament is considering to release former prime minister of Italy from parliament. However, Silvio Berlusconi uttered no threats to bring down the coalition government of Prime Minister Enrico Letta. "I will stay with you even though I was expelled from the parliament," said the head of the leading companies in the Italian media. "I call for people to join the party Forza Italia."

 

Berlusconi seems to want to lead supporters of the People of Freedom party now (PDL) to the Forza Italia party. Berlusconi promises reduced power of government, budget spending, and taxes if people choose Forza Italia. Italian Parliament is still considering whether Berlusconi retains position in parliament. Colleagues Berlusconi has sought to prevent the sacking of the PDL party leaders of Italy's political landscape, and yet the Senate has managed to block the effort.

[mynameisandhy]

News and Review of European Economic Zone

 

Liikanen: ECB Interest Rates Still Low For Long Time

Thursday, September 19, 2013

 

The European Central Bank will maintain its accommodative monetary policy stance to increase stability in the money market, the ECB DewaGubernur a member Erkki Liikanen said on Tuesday.

 

"The ECB's benchmark interest rate will still be in the current levels or lower for a longer period of time," said Liikanen, who also served as the Governor of the Bank of Finland.

 

Earlier this month, the ECB keep interest rates unchanged at a record low in 0:50%, despite the increase in the forecast for economic growth this year in the eurozone.

 

Liikanen said that the ECB's accommodative monetary policy also guarantees a moderate outlook for price developments in the euro zone when inflation is expected to slow to around 1.5% in 2013.

 

ECB policymakers remained "notice the implication that the change in the excess liquidity likely to be the stance of monetary policy," said Liikanen.

 

Liikanen was presenting biannual report the Bank of Finland on monetary policy and international economics. He said that the deployment of the ECB's monetary policy is still accommodative evenly in the euro area.

[mynameisandhy]

News and Review of European Economic Zone

 

The Mighty Euro Ahead of Confidence Data consumen

Friday, September 20, 2013

 

The euro headed for its biggest weekly gain in two months against the dollar before the release of a report from the euro zone economists predicted that the level of consumer confidence in the euro zone will rise in September.

 

The single currency has gained about 0.3 percent from its strongest level since 2009 against the yen amid optimism about the recovery in the region. The New Zealand dollar rose for a fifth day after the central bank said last week that the high interest rates that may be required. Sementra that most Asian currencies had the biggest weekly gain this year after U.S. policy makers at this week's delay reduction of stimulus.

 

"What happened today is a dollar retreated after the Fed decision, but for the last few months the euro has had its own power," said Jane Foley, senior currency strategist at Rabbobank International in London. "This is part of the perception that the crisis begins to subside . It also reflects the current account position in the euro zone has been good. "

 

Current euro rose about 0.1 percent to $ 1.3533 at 20:01 GMT after rising to 1.3569 yesterday, the highest level since February 7. The single currency was little changed at 134.57 per yen after rising to 134.95 yesterday, the strongest level since November 2009, Yen only slight movement at the level of 99.44.

 

The euro rose as much as 1.85 percent against the dollar this week, the biggest gain since the period ended July 12.

[mynameisandhy]

News and Review of European Economic Zone

 

Euro Survive at Highest Level 7 Months

Friday, September 20, 2013

 

Euro remained traded at its highest level in the last seven months against the dollar, before the Euro zone consumer confidence data was released, which is expected at the highest level in the last two years. The peanut butter manufacturing data to be released Monday also expected to expand in three consecutive months.

 

The euro hit its highest level in seven months against the dollar after the Federal Reserve maintained its bond-purchase program of $ 85 billion per month, at the last meeting a few days ago. The decision was a surprise from the Federal Reserve since the analysts predict the Fed will reduce the stimulus of $ 10 billion to $ 75 billion.

 

The Federal Reserve also cut its forecast for U.S. economic growth of 2.3% - 2.6% to 2.0% - 2.3% for this year. In addition, Federal Reserve Chairman, Ben Bernanke, said the stimulus certainty reduction will depend on U.S. economic data, the Fed would like to see further improvements before the U.S. economy began to reduce monetary stimulus.

 

EURUSD is currently trading at around 1.3531, the highest intraday level 1.3538, 1.3526 and the lowest.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK Budget Deficit Shrinking Back Lifting Pound

Friday, September 20, 2013

 

The pound extended gains for a third week against the dollar after a government report showed that the UK budget deficit narrowed in August of last year.

 

Sterling approached its strongest level in eight months against the U.S. currency after the Federal Reserve this week unexpectedly refrained to trim its monthly bond purchases under the program of monetary easing. UK government bonds were little changed, with bonds (gilts) with 10-year-old headed to the strengthening of the second week.

 

"We can extend the highest level on sterling in extensive environmental assets at risk positive move," said Ian Stannard, head of European currency strategy at Morgan Stanley in London. "Bagaiamanapun, I would be a little cautious in the short term as prices have rallied over far enough. This could cause a slight correction. "

[mynameisandhy]

News and Review of European Economic Zone (Greece)

 

Greece Will Achieve This Year's Budget Surplus

Monday, September 23, 2013

 

Greek and international borrowers are close to reaching an agreement that Greece will reach a budget surplus this year, according to a senior Finance Ministry last week on the day after meeting Greek officials and the IMF. Achieve primary budget surplus, before interest payments, it is important for Greece as it would be a clause to get debt relief from the EU / IMF.

 

"I think we are close to both agreed, estimating that it will be the primary budget surplus is small but strong this year," said the official who refused to know, after the last review meeting Greek bailout by the troika. "There are still four or five budget items that should we agree completely," he added.

 

Recent review of the EU troika officials, the International Monetary Fund and the European Central Bank is expected to last until the end of next month. Party Athens and the troika is also very close to agree on economic growth forecasts for 2013 and 2014, according to the officials, without mentioning that estimate.

[mynameisandhy]

News and Review of European Economic Zone

 

Eurozone Service Sector in Improving Demand Rises Along

Monday, September 23, 2013

 

The growth of the service sector in the euro area rose to its fastest pace in more than two years in September, with improved demand and confidence.

 

Activity index rose to 52.1 from 50.7 in August, said Markit economist based in London today. Composite index on services and manufacturing rose to 52.1 from 51.5. Economists expect the level of 51.8, based on the median estimate of 25 economists in a Bloomberg survey. Readings above 50 indicate expansion. In China, growth manufkatur increased to its highest level in six months.

 

In the euro area economy shows signs of recovering from the crisis recovery since the longest ever in the second quarter. This growth in pimpn by Germany, where Angela Merkel won overwhelming support from voters in elections yesterday because he was considered successfully led Germany to resolve the crisis in the euro zone.

 

"The economy in the euro zone has been ending the third quarter with an encouraging note," said Martin van Vliet, an economist at ING Bank NV in Amsterdam, said in a note to clients. "But the more powerful acceleration in the pace of recovery seems unlikely in the short term this, "he added, quoting from is not yet even that would reduce the rate of recovery of domestic demand."

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

Merkel wins Symbol Public Trust

Monday, September 23, 2013

 

Conservative Party made ​​by Chancellor Angela Merkel officially won the German election . Victory Christian Democratic Union party ( CDU ) became a symbol of public confidence in Merkel's leadership , including its role in the economic recovery of the Euro zone .

 

Coalition of the Christian Democratic Union party ( CDU ) and Christian Social Union ( CSU ) collects 41.7 % of the vote in the election this year . Angela Merkel's party even care one step further entitled to claim the super-majority in parliament so no need to form a new coalition with other parties . The election results seemed to prove how the Germans greatly appreciate the performance of the government . For the record , Merkel was the third person who managed to lock three wins in a row in the electoral history of the modern era Germany ( after World War ) .

 

CDU coalition partner in the previous government period , the Free Democratic Party ( FDP ) , and is predicted to be the biggest losers lacked sound to meet the parliamentary threshold of 5% . While newcomer party , AFD , it won its first seats in parliament , but his voice is not as good as the acquisition estimates .

 

Before the election begins , political opponents often criticize the pattern of Angela Merkel the chancellor's policy in dealing with the crisis of Europe. German intervention in the program bail out troubled countries are considered too excessive because it is against the will of the people . But yesterday the election results prove that the majority of voters still want CDU control of the reins of national political leadership . Moreover, the German intervention in regional crises proved to be good for the Euro economy is increasingly stable throughout 2013.

 

In the midst of a recession almost immediately following in some countries , the share of foreign policy to be taken by the German government is getting lower and lower . However , the role of Angela Merkel is still very large in efforts to regional economic stability . After the election results yesterday , any steps taken by the government will be less likely to be constrained by legislative official blessing . Even if the CDU calls for a grand coalition , there will be hardly of the parties incorporated in it . CDU coalition force in very great , even greater than the previous period . Even the Social Democratic Party , which has long been Merkel's coalition partner , did not dare to interfere with the government's policy decision about the troubled state budget cuts . In fact, since first joining , this is one party political organization that is not too fond of that policy . In the end , Social Democratic voice always round when asked to support the government's attitude in handling any crisis .

 

Euphoria of victory ruling party could not last long . Merkel and colleagues still have homework related to his role in the program budget cuts . Germany demanded to be able to mobilize the region's economic acceleration , combat high unemployment , old age people dig productivity and limit the debt burden . Greek state is predicted to need extra funds to help recover as usual . Similarly, Portugal , which is expected to immediately ask for additional bailout . European banking system restoration has not been completed , especially in the middle of the current discourse credit recovery and increased absorption of liquidity by firms .

 

Germany is the country with the productivity G7 second largest economy after the United States , if computed on the basis of GDP per hours worked . Unemployment rate is the second lowest in Europe , and the economy is able to print a 0.7 % growth in the second quarter . The country is not in recession despite peripheral countries are facing heavy periods . In short , the world financial market participants could be more optimistic outlook for policy in addressing the euro zone after victory CDU . Programs that are running can be continued until the region's economic condition is completely normal . Merkel victory was a foregone conclusion on the stability of the European economy .

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

Ifo: Business Climate in Germany The Improved

Tuesday, September 24, 2013

 

Business confidence in Germany recorded an increase in September, according to the Ifo report on Tuesday. German business climate index rose slightly to 107.7 from 107.6 in August, which is still weaker than expectations for a rise to 108.2.

 

While the sub-index Ifo, which measures companies' expectations for the next 6 months, also increased to 104.2 this month from 103.3 in August. However, the current conditions index, have slipped to 111.4 from 112.0 last month.

 

"Although companies assess the current business situation if slightly less profitable, they still remain optimistic about the future of the business. And it will help boost the confidence of the German economy into the fall," said Kai Carstensen, head of business analysis and Ifo survey, after the release of data the.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

The FTSE Down After Weak Euro Zone Manufacturing Reports

Tuesday, September 24, 2013

 

UK stocks fell, after rising for three weeks, as a report showed that manufacturing in the euro zone grew more slowly than economists forecast this month and investors are assessing the results of the German election.

 

Shares of National Grid Plc slid 1.5 percent after UBS AG downgraded to teresebut company. Shares of Randgold Resources Ltd.. fell as much as 2 percent on lower commodity prices. And Aberdeen Asset Management Plc shares rose as much as 2.4 percent after predicting that the profit before tax for this financial year will reach above analysts' estimates.

 

The FTSE 100 index fell by 18.68 points, or 0.3 percent, to 6,557.75 in the afternoon. The index had risen as much as 2.6 percent so far this month as China's economic reports beat estimates adan Federal Reserve unexpectedly refrained from reducing monthly asset purchases.

 

"The market is digesting a number of factors, such as: German elections, the Federal Reserve's decision last week and a series of economic data," said Keith Bowman, equity analyst at Hargreaves Lansdown Plc in London. "Chinese data is quite positive."

[mynameisandhy]

News and Review of European Economic Zone

 

Euro Starting Eroded Post Data Germany

Tuesday, September 24, 2013

 

The single currency Euro appear eroded after stagnating in the range of $ 1.35 although the data rate of German business confidence released today has increased from the previous survey.

 

The euro edged up only after the consumer confidence survey among German businessmen (Ifo index) rose to 107.7 in September from the previous month to 107.5 points. But the result was still below analysts' estimates expect the index to show up at the level of 108.2, as reported by Reuters. So the euro then gradually began to be eroded and slightly decreased to below the level of $ 1.35.

 

In general, exchange rate euro remained under pressure after yesterday's session dropped by ECB President Mario Draghi's comments stating that at any time the central bank could cut interest rates and will continue to flood the market with more cheap liquidity. In addition, the euro was also overshadowed by fears of future deadlines Angela Merkel needed to form a coalition government following his party's victory in German elections last Sunday.

 

Euro area shows at $ 1.3492 after today can only rose to $ 1.3518. While yesterday's session, the euro had rallied to around $ 1.3555 after finally closed at $ 1.3494.

[mynameisandhy]

News and Review of European Economic Zone (Greece)

 

Strike action Paint the Capital of Greece

Wednesday, September 25, 2013

 

Public and private sector workers in the capital of Greece has embarked on a strike as a form of protest against the government's austerity policies that have exacerbated people's lives. Strike is making hospitals and schools have few staff to run its activities. Thousands of people were seen doing a peaceful demonstration and shouted slogans against austerity.

 

The action came as the troika-team of the IMF, ECB and European Commission was in Athens to check on the financial health of the government and saw evidence of Greece's commitment in implementing policy reforms. Greece relies heavily on international loans to run the government. However, the government's austerity policies are needed to ensure the continuation of further withdrawals. Although the Greek government and the troika agreed that Athens has done its best to cut its debt, but the troika still express the need for further reforms. This means that the Greek government may be forced to reduce subsidies, spending budget, the number of civil servants and raise taxes, which in turn will further burden the lives of the people of Greece.

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

German Consumer Sentiment Touches Highest Level in 6 Years

Wednesday, September 25, 2013

 

The level of consumer confidence in Germany rose to its highest level in 6 years into the month of October, helped by expectations of strong consumer spending will help the country Europe's largest economy is for moderate growth rate recorded in 2013. GfK research group said Wednesday his consumer sentiment indicator, based on a survey of about 2,000 people, rose to 7.1 in October from a revised dimemasuki rose to 7.0 for the previous month. Data in September before revision is 6.9 and analysts expect the data for October rose to 7.0. The strengthening of these data with other data released recently shows that the growth rate of gradual but steady towards the end of the year.

 

"Consumers in Germany estimates that the German economy will gain momentum in the months ahead," GfK said in a statement. "It's clear there is upside."

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

CBI: UK Retail Sales Jumped Into High Level In 15 Months

Wednesday, September 25, 2013

 

UK retail sales rose at a pace terccepatnya in the last 15 months in September, driven by sales of groceries and furniture, based on the index by the Confederation of British Industry (CBI).

 

Index of annual sales growth rose to 34, its highest level since June 2012, from 27 in August, said at today's lobby based in London. Economists had expected to fall to 23, according to the median estimate of nine economists in a Bloomberg News survey. Retail stores are expected to maintain their sales momentum in the months ahead.

 

"This data is encouraging to see higher on the path of economic recovery," said Barry Williams, head shop for food in the unit of Wal-Mart Stores Inc.. Asda and chairman of the CBI retail panel. "But the retail sector has not actually recovered with consumer confidence still fragile. '