Key Economic News to Watch This Week: November 12
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Eurogroup finance ministers are expected to review the so-called troika report on Greece and come up with a bailout extension decision this week. Unless another bailout agreement and extension is reached, Greece is expected to run out of cash and default on almost 5 billion euro worth of treasury bills.
Monday, November 12
Eurogroup finance ministers are expected to review the so-called troika report on Greece and come up with a bailout extension decision this week. Unless another bailout agreement and extension is reached, Greece is expected to run out of cash and default on almost 5 billion euro worth of treasury bills.
Monday, November 12
German Chancellor Angela Merkel visits Lisbon to hold talks with Prime Minister Pedro Passos Coelho and President Anibal Cavaco Silva. She is expected to back the country’s unpopular austerity cuts under the terms of a German-backed bailout as Portugal suffers its deepest slump since the 1970s.
The Summit on the Global Agenda, staged by the World Economic Forum, opens in Dubai with participants discussing economic, industrial and regional topics. The Summit is the world’s largest brainstorming meeting, aimed at shaping the 2013 WEF Annual Meeting agenda.
The World Energy Outlook 2012 report, which gives projections of trends to 2035 and the ramifications for energy security, the environment and economic development, is published in London by the International Energy Agency.
Tuesday, November 13
Finance ministers of EU states meet in Brussels at the Economic and Financial Affairs Council. They are expected to review the report from the troika of inspectors and decide if Greece should receive its next instalment of bailout cash.
Related News: ECB Says it is “By and Large Done” Saving Greece
Wednesday, November 14
Spain and Portugal’s largest trade unions have called for a general strike to protest their country’s austerity measures and labour reforms. Greece and Cyprus have since joined the call to strike and there are plans to turn it into a Europe-wide general strike. The European Trade Union Confederation has declared November 14 “Day of Action and Solidarity for a Social Compact for Europe”.
Thursday, November 15
The eurozone releases its Q3 GDP estimate. Analysts are expecting a double-dip recession after the economy shrank by 0.2 percent in the second quarter of 2012.
Friday, November 16
Unless another bailout agreement and extension is reached, Greece is expected to run out of cash and default on almost 5 billion euro worth of treasury bills.
Saturday, November 17
Barack Obama becomes the first US president to visit Myanmar, the strongest international endorsement of the country’s fragile democratic transition.
Related News: U.S. Lifts Sanctions on Burma
Sunday, November 18
The annual summit of the Association of Southeast Asian Nations takes place in Phnom Penh, Cambodia.
