Down from 57.7 in May and weaker than median forecast of 57.0. Services PMI 58.3, up from 56.1 in May and stronger than median forecast of 55.7.
ECB decided on voluntary basis to buy peripheral bonds
It’s all Germany!!! Greek parliament’s vote of confidence in govt an “important step”
Alen Mattich in WSJ.
Someway worse than median forecast of -2.0. EUR/USD lower at 1.4327. ZEW economist says Greek financing requirements may have contributed to decline in indicator. Unfavourable economic data seems to have negative impact Financial market experts see more and more evidence … Continue reading
Interest in a stable euro zone is enough of an incentive for private sector Will discuss private sector involvement in Greek bailout until July 3rd
1.8% in 2012 German growth clearly slowing in Q2 after “splendid” Q1 German recovery broad-based, , well placed for sustained expansion Economic upswing should facilitate pressing need for consolidation of public finances Govt bond risk premia in some euro zone states to … Continue reading
Slightly weaker than median forecasts +0.1%, +6.3% respectively. German FinMin monthly report: Inflation spreading from fuel prices to other products Economic pickup continues at slower pace than at start of year