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  • More and more meetings for Greek PM Papademos

    Monday 06 Feb 2012

    Despite rumours of an imminent agreement on Greek austerity measures, it appears that negotiations are not progressing. The Daily Telegraph reports that Greek prime minister Lucas Papademos may hold conversations with the "troika" (European Central Bank, International Monetary Fund and the European Union) later on Monday in order to discuss the status of negotiations.

  • Sovereign bond yield differentials continue to narrow

    Monday 06 Feb 2012

    In the sovereign debt market, Germanto periphery bond yield differentials continue to narrow, while Portuguese and Italian debt carries on improving.

  • Eurozone crisis threatens to cut China’s growth in half

    Monday 06 Feb 2012

    In a report released today from its Beijing office, the International Monetary Fund (IMF) warns that the European debt crisis could cut China’s growth in half.

  • 'Merkozy' scheduled to meet this morning

    Monday 06 Feb 2012

    German Chancellor Angela Merkel has travelled to Paris this morning to meet with French President Nicolas Sarkozy in the Franco-German Council of Ministers scheduled for 11:30 this morning (10:30 London time).

  • European banks’ capital restructuring plans do not look credible

    Monday 06 Feb 2012

    The European Banking Authority (EBA) called last December on some of the Continent´s leading banks to raise capital by €115bn in order to reach a 9% core tier 1 capital ratio, but the regulator may decide to challenge some of their plans to meet that requirement.

  • Greek talks at critical stage as deadline looms

    Monday 06 Feb 2012

    After a meeting last night between the three parties of Greece’s coalition government, Prime Minister Lucas Papademos announced that they had agreed on “basic issues”. However, Greek paper ekathimerini has reported that the two smaller party heads remain opposed to excessive austerity and that talks will continue today.

  • Commodities: Crude cruises higher on US jobs data

    Monday 06 Feb 2012

    Crude oil futures tapped into a high of $98.03 on Friday as investors cheered encouraging US economic data while the weaker dollar also triggered some interest.

  • Papademos threatens to resign if not backed by parties

    Friday 03 Feb 2012

    Greek daily Ekathimerini reports that Greek Prime Minister Lucas Papademos has threatened to resign if the country's political parties do not support the new fiscal austerity measures requested by the "troika" (European Union, European Central Bank, and International Monetary Fund).

  • Markets cheer US jobs report

    Friday 03 Feb 2012

    European equities and US stock futures went from trading flat to showing average 0.8% gains after a much better than expected Employment Report for January was released in the United States.

  • Spain limits banker salaries for bailed out banks

    Friday 03 Feb 2012

    Spain's Finance Minister Luis de Guindos has informed at the Council of Ministries that there will be limits for top management pay at entities that receive public funds. This element of the financial reform was not mentioned in yesterday's announcement.

  • World may need $2 trillion to cover economic eventualities, says IMF

    Friday 03 Feb 2012

    International Monetary Fund (IMF) Deputy Managing Director Naoyuki Shinohara said that the world economy may need up to $2 trillion to cover all global economic eventualities.

  • IMF seeks to increase safety net as Greek talks drag on

    Friday 03 Feb 2012

    As Greece continues talks with private creditors in an attempt to reach a deal on the debt swap, the International Monetary Fund (IMF) is busy making moves to increase its emergency funds in order to head off any possible crisis.

  • Eurozone service sector gets out of recession levels

    Friday 03 Feb 2012

    The purchasing managers' index (PMI) for the service sector, as compiled by Markit Economics, has revealed that the Eurozone economic slowdown could have reversed course with the services and manufacturing sector out of recession levels.

  • Deutsche Bank doesn’t want to lose rep by accepting cheap ECB money

    Friday 03 Feb 2012

    Even though the European Central Bank (ECB) is preparing a second round of “cheap money” for banks to combat the credit crisis, Deutsche Bank is reluctant to accept the offer as it fears losing its reputation.

  • Spain announces €50bn financial sector reform

    Friday 03 Feb 2012

    Spain’s Economic Minister Luis de Guindos announced last night the financial sector reforms to clean up bank balance sheets.

  • Commodities: Oil drips to a six-week low

    Thursday 02 Feb 2012

    Oil plunged to a six-week low on Thursday, hit by a rise in US supplies and a falling demand for fuel.

  • EU to evaluate ESM in March

    Thursday 02 Feb 2012

    European Council president Herman Van Rompuy has said that EU leaders will discuss the size of the European Stability Mechanism (ESM) fund at their next summit meeting on March 1st-2nd.

  • Facebook prepares largest ever Internet stock flotation

    Thursday 02 Feb 2012

    In one of the most talked about initial public offerings (IPOs) in stock market history, Facebook Inc. has finally filed its S-1 document to the Securities and Exchange Commission.

  • US jobless claims continue to fall

    Thursday 02 Feb 2012

    US initial jobless claims fell by 12,000 last week to 367,000, the Department of Labor said today, in a sign that the labour market may be slowly recovering.

  • Spain to present banking reform today

    Thursday 02 Feb 2012

    Spain's Economy and Finance Minister Luis de Guindos has called for a press conference at 17:30 (Madrid time) in order to present banking reform in the country, which is expected to be approved tomorrow in the Council of Ministers.

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