Key Economic News to Watch This Week: July 23
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Spain’s bailout fears have peaked in the wake of Black Friday as analysts warn that current austerity measures are not enough to save the country from a death spiral. In the US, Congress is still far from any deal to avoid the fiscal cliff, while the Fed remains coy on how it plans to stimulate the world’s largest economy.
Related Infographic: The Controversy Surrounding the US Federal Reserve System
Spain’s bailout fears have peaked in the wake of Black Friday as analysts warn that current austerity measures are not enough to save the country from a death spiral. In the US, Congress is still far from any deal to avoid the fiscal cliff, while the Fed remains coy on how it plans to stimulate the world’s largest economy.
Related Infographic: The Controversy Surrounding the US Federal Reserve System
Monday, July 23
EU Foreign Affairs Council meet in Brussels and is expected to discuss the EU’s Southern neighbourhood, focusing on Syria and Libya, as well as the ongoing negotiations between Sudan and South Sudan.
Panel appointed by government of then-premier Naoto Kan to investigate Fukushima nuclear crisis expected to issue final report. This comes after a separate panel appointed by parliament said on July 5 that the crisis was preventable and resulted from collusion among the government, regulators and plant operator Tokyo Electric Power Co.
Egypt marks revolution day, a public holiday commemorating the 1952 army-led revolution that overthrew the monarchy and led to the establishment of a republic.
Related Story: Post-Arab Spring: Can The Arab World Revolutionise Their Economies?
Related Story: Egypt’s Populist Problem – The Downside of the Revolution: Mohsin Khan
Tuesday, July 24
Experts from the so-called “troika” of the International Monetary Fund, the European Commission and the European Central Bank are due to begin a visit to Athens to review debt-stricken Greece’s progress with reforms agreed as part of its 10 billion euro bailout.
Apple reports its quarterly earnings with analysts and investors anticipating yet another bumper quarter.
Related News: Apple’s Biggest Problem? Too Much Cash, Says CEO
Related Infographic: Apple’s Cash Can Bailout Greece
Wednesday, July 25
The World Trade Organisation’s general council holds a two-day meeting in Geneva.
The United Kingdom reports its Q2 results and the economy is expected to continue its recessionary streak for the third consecutive quarter.
Thursday, July 26
Asian Development Bank releases its semi-annual Asian Economic Integration Monitor.
Friday, July 27
Barclays announces its Q2 results. The bank is expected to forecast a pre-tax profit of £1.67 billion in the three months to June, which is likely to be flat year-on-year. More importantly, Friday’s results will be overshadowed by the resignation of chief executive Bob Diamond earlier this month in the wake of the LIBOR scandal.
The 2012 Olympic Games officially begin in London (until August 12). The Olympic flame will be carried across the city on the final leg of the torch relay to light the cauldron at the opening ceremony, presided over by the Queen.
Related Infographic: A Brief History of the Olympic Games
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Related News: Greek Athletes Risk Missing Olympics Due To Cuts in State Funding
