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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.

By Sean Lee  || September 1, 2010 at 23:34 GMT
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Shocking headline of the day

“Unions urge France to ditch rise in full pension age”…

By Jamie Coleman  || September 1, 2010 at 17:00 GMT
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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.

By Jamie Coleman  || September 1, 2010 at 12:45 GMT
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German FinMin: Sees little sign of higher interest rates in foreseeable future

  • Greece deserves respect for its efforts on budget consolidation
By Gerry Davies  || September 1, 2010 at 10:23 GMT
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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.

By Gerry Davies  || September 1, 2010 at 08:30 GMT
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French August final manufacturing PMI rises to 55.1

From flash 54.7 and 53.9 in July.

So much for my trend.

By Gerry Davies  || September 1, 2010 at 07:49 GMT
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Stoxx Europe 50 futures rise 0.6%

DAX futures rise 0.4%. CAC 40 futures rise  0.4%

By Gerry Davies  || September 1, 2010 at 06:08 GMT
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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

By David Horton  || September 1, 2010 at 02:25 GMT
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Churchill must be spinning in his grave

UK and French navies to merge?

By Jamie Coleman  || August 31, 2010 at 19:20 GMT
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Euro zone August inflation estimated at 1.6% y/y

As expected.

July unemployment 10%, also as expected.

By Gerry Davies  || August 31, 2010 at 09:10 GMT
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