AUTOREFRESH 
Buba trying to oust controversial board member
The German Bundesbank has unanimously expressed its wish to see controversial board member Thilo Sarrazin ousted from his position.
Shocking headline of the day
“Unions urge France to ditch rise in full pension age”…
Hungarian PM bemoans strong CHF
The firming of the franc poses risk to the Hungarian economy, says the PM. The weakening forint versus the CHF causes higher than expected loan losses for Hungarian banks.
During the credit bubble, Hungarians loaded up on “cheap” Swiss franc denominated mortgages only to watch the housing market collapse and the franc strengthen to record levels, making the loans exponentially more expensive than when they were taken out.
USD/CHF broke key 1.0130 support earlier and now targets 0.9980. It trades at 1.0080 at the moment.
German FinMin: Sees little sign of higher interest rates in foreseeable future
- Greece deserves respect for its efforts on budget consolidation
Euro zone August final manufacturing PMI 55.1
Fractionally firmer from 55.0 flash estimate but down from 56.7 in July and lowest read since February.
French August final manufacturing PMI rises to 55.1
From flash 54.7 and 53.9 in July.
So much for my trend.
Stoxx Europe 50 futures rise 0.6%
DAX futures rise 0.4%. CAC 40 futures rise 0.4%
Spain’s Zapatero:Debt auctions show Spanish Government can meet it’s financing costs
Government will meet it’s target of reducing deficit-GDP ratio to 6% in 2011
Churchill must be spinning in his grave
UK and French navies to merge?
Euro zone August inflation estimated at 1.6% y/y
As expected.
July unemployment 10%, also as expected.
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