Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Focus to shift on EU summit to follow up Greek progress in its second bailout terms  Join our daily free Newsletter

MENAFN - ecPulse - 01/03/2012

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fqn_news_story_s.aspx%3fstoryid%3d1093488575 Share This Article: http%3a%2f%2fwww.menafn.com%2fqn_news_story_s.aspx%3fstoryid%3d1093488575 Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(menafn – ecpulse)

After the ECB had allotted 800 European banks with 529.5 billion euros for 1,092 days on Wednesday in a second round of its Long-Term Refinancing Operation (LTRO) from 489 billion euros in the first round launched in December, eyes will focus on the EU summit two-day meeting starting on Thursday.


While some expected the meeting to tackle the issue of expanding the European permanent rescue fund to combat debt crisis, especially after the rejection of G20 nations to boost IMF resources before seeing expansion in euro area’s firewall, Jean-Claude Junker, Eurogroup President, said on Wednesday the summit will not include discussions of expanding the European lifeline.


He clarified that some European Parliaments have not finished their work on this issue, where he referred that it will be tackled by late March. 


Instead, the meeting will focus mainly on Greece’s reform actions demanded by the EU and IMF to become eligible for receiving a second bailout worth 130 billion euros. They will review the progress is the debt swap deal reached with private-sector bondholders last week.


The EU want to make sure that Greece is on the right track to provide the debt-laden economy a first installment of the bailout by March 20, Junker said.


From Greece’s side, the Greek Parliament approved 3.2 billion-euro of spending cuts for this year with a majority of 202 versus 80 against, to become closer to receiving the aid package.


Moreover, the euro area, Germany and U.K. will release important manufacturing data. The final reading of PMI manufacturing in the euro zone will remain unrevised at 49.0, where in Germany the reading is also predicted to remain unrevised at 50.1. In the U.K., the reading is estimated to record an expansion of 51.8.


Thereafter, specifically at 10:00 GMT, the euro zone will release CPI estimate and unemployment rate where the former is estimated to inch down to 2.6% while the later will probably linger at 10.4%.


It seems that the euro area is facing a tough mission to lower unemployment while inflation is likely to remain above the ECB’s targeted level for a while.


Last month, the European Commission lowered its growth outlook for Europe as it expected a contraction of 0.3% for the euro area, down from the previously projected expansion of 0.5% in November.


So far, euro area officials are exerting more effort to abate debt crisis through pumping liquidity into markets, helping Greece to remain in the euro area, while may expand firewall to help other highly indebted nations in the region. 


 






  MENA News Headlines
Jun 18 2013Qatar- Children jump to safety as fire guts apartment ,The Peninsula
(MENAFN - The Peninsula)  A six-member family, including five children, had a miraculous escape from their house on the second floor after a blaze gutted the apartment in Barwa real estate company's ...

Jun 18 2013Qatar Airways orders nine Boeing 777s ,The Peninsula
(MENAFN - The Peninsula)   Qatar Airways announced an order for nine Boeing 777 passenger aircraft worth QR10bn ($2.8bn) on the opening day of the International Paris Air Show yesterday, press ...

Jun 18 2013Qatar ranks 7th in fibre optic penetration ,The Peninsula
(MENAFN - The Peninsula)  Qatar ranks seventh in fibre optic penetration in the world, reaching out to 66 percent of the households, reveals a study. The country also has one of the fastest ...

Jun 18 2013Qatar, Fiji sign agreement on avoidance of double taxation ,The Peninsula
(MENAFN - The Peninsula)   Qatar and Fiji have signed an agreement on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income, Qatar's Ministry of Economy and ...

Jun 18 2013Qatar- QFBA relaunches website ,The Peninsula
(MENAFN - The Peninsula)  Qatar Finance and Business Academy (QFBA) yesterday announced the re-launch of its website "qfba.edu.qa" with a number of key features, a press statement said yesterday. ...

Jun 18 2013Qatar Cool wins two awards at IDEA conference in US ,The Peninsula
(MENAFN - The Peninsula)   Qatar District Cooling Company (Qatar Cool), the district cooling leader in Qatar, has won two prestigious awards at the just-concluded annual conference of the US-based ...

Jun 18 2013Qatar Exchange up a shade; Saudi rebounds ,The Peninsula
(MENAFN - The Peninsula)  Qatar Exchange ended in the green yesterday adding 5.29 points (or 0.06 percent) to advance to 9,429.70 points from 9,424.41 on Sunday. Among the top gainers were Qatar ...

Jun 18 2013Internet fast changing purchasing behaviour: Official ,The Peninsula
(MENAFN - The Peninsula)  The Internet is fast changing the purchasing behaviours of consumers in the Mena region, including Qatar. Nearly 33 percent of Mena region consumers now make online ...

Jun 18 2013Qatar building 77 new hotels: QDB analysts ,The Peninsula
(MENAFN - The Peninsula)   With more and more players entering Qatar's hospitality sector, the industry's present market dynamic is bound to change in a big way. The pricing will be competitive and ...

Jun 18 2013Etihad mulls equity stake in Serbia's JAT Airways ,The Peninsula
(MENAFN - The Peninsula)   Etihad Airways has signed a preliminary agreement with the Serbian government over a possible equity investment in the Balkan country's loss-making JAT Airways. Serbia ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help