The European executive has responded to electoral earthquakes in France and Greece by calling for a shift towards growth across the European Union.
Beyond French election results, central bank speeches in the US, production figures in Europe and key releases in SA, it will be an interesting week.
May Day protesters have poured into Europe’s streets, swept up in a wave of anti-austerity anger that threatens to topple leaders in Paris and Athens.
Fears are mounting Spain might be headed for a bailout, while eyes will also be on a series of corporate earnings reports and data releases elsewhere.
The Organisation of Economic Cooperation and Development has warned that the eurozone’s debt crisis is not over and banks in the bloc remain weak.
German Chancellor Angela Merkel says it would be ‘catastrophic’ to allow Greece to leave the eurozone because of its debt problems.
As Spain tries to rein in its budget deficit, the country’s towns and regions have become riches-to-rags stories due to years of overspending.
Opening shots in Greece’s next general election campaign have been fired, threatening to push the euro debt crisis into a new period of uncertainty.
As the country struggles, the rich still buy Gucci, Prada and Louis Vuitton — though they may more discreet about flaunting it.
Spain might face uphill battles to meet the demands of supermarket chains and European regulations, which do not apply to North African grower.
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/ 26 February 2012
Germany is easing its opposition to a bigger European bailout fund, smoothing the way for the world’s leading economies to secure near
Eurozone leaders have sealed a new bailout for Greece that will fix its immediate financing needs but is unlikely to revive its shattered economy.
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/ 17 February 2012
The eurozone crisis has not stopped the FTSE, the Cac and the Dax climbing for most of the past three months.
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/ 14 February 2012
China concedes that it needs to work together with the EU to solve Europe’s debt crisis.
Asian markets and the euro have gained after Greece passed its austerity measures, inching the country closer to a much-needed bailout fund.
Greece’s new austerity measures should allow economists and investors to turn their attention to a host of data releases scheduled for this week.
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/ 6 February 2012
Negotiations aimed at lightening Greece’s debt load to more sustainable levels are likely to dominate economic headlines this week.
Talks appear to be stalling between EU, IMF negotiators and Greek officials.
Developments in Spain and Portugal demand urgent attention.
Germany’s Chancellor Angela Merkel appears to be getting support on the fiscal compact, but is left increasingly isolated over Greece.
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/ 25 January 2012
The IMF has cut its growth forecasts for major countries in 2012 and urged governments to adjust the "rhythm" of measures to avoid derailing recovery.
Hopes of a deal between Greece and creditors in time for Monday’s eurozone meeting have been dashed amid increased pressure to accept bigger losses.
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/ 23 January 2012
Economists and investors across the globe will be digesting a host of economic reports for signs that recent rallies may continue.
Portugal is successfully implementing a series of fiscal reforms that are key to gaining continued international financial assistance.
Gill Marcus keeps rates on hold.
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/ 17 January 2012
Experts are warning that a global economic slowdown and the eurozone debt crisis have curbed government investment in renewable energy.
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/ 11 January 2012
Only half the EU’s nations have complied with a law to eliminate cramped cages of hens — a flop seen as a metaphor for Europe’s state of disarray.
IMF Chief Christine Lagarde has met with President Jacob Zuma, wrapping up a visit in which she warned that the global growth outlook may be lowered.
The IMF’s Christine Lagarde says the South African economy’s biggest threats in 2012 will be unemployment and the eurozone crisis.
Keynes suggested a means to restoring equilibrium between nations after the Great Depression and it may be an idea whose time has come.
German Finance Minister Wolfgang Schaeuble says the new year will probably be worse than the last but Germany should be able to withstand it.
Will markets begin 2012 with a bang or a whimper? <b>Matt Quigley</b> looks at the economic week ahead.