Home » Key Economic News to Watch This Week: December 3

Key Economic News to Watch This Week: December 3

EW News Desk Team

Last Updated: 3, December 2012

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December is historically a strong month for markets. The S&P 500 has risen 16 times in the past 20 years during the month. However, negotiations to avert the fiscal cliff continue to add uncertainty to markets, particularly as talks reach a stalemate over tax hikes. Meanwhile in Europe, eurozone finance ministers meet to make a final decision on the next trance of aid for Greece.

Monday, December 3

December is historically a strong month for markets. The S&P 500 has risen 16 times in the past 20 years during the month. However, negotiations to avert the fiscal cliff continue to add uncertainty to markets, particularly as talks reach a stalemate over tax hikes. Meanwhile in Europe, eurozone finance ministers meet to make a final decision on the next trance of aid for Greece.

Monday, December 3

Eurozone finance ministers meet in Brussels before deciding on a sign-off to release Greece’s next tranche of financial aid. Last Friday, German lawmakers approved a revised bill on Greece’s rescue package, paving the way for the release of funds and hands to Athens a much-needed financial boost as it battles against bankruptcy.

Related News: Germany Softens Stance on Possible Greek Debt Write-Off

Related News: Eurozone Recovery Expected in Mid-2013: Draghi

Tajikistan formally joins the WTO.

The UN Food and Agriculture Organisation presents its annual State of Food and Agriculture report.

Related News: British Bank Makes $838 Million from “Food Speculative Activities”: Report

Related News: 17 Million Americans Suffering From “Very Low Food Security”: Study

Related News: One in Eight of World Population is Chronically Undernourished: UN

Tuesday, December 4

The eighth World Islamic Economic Forum takes place in Johor, the fastest growing economic region of Malaysia, until December 6, with discussions on the changing dynamics of global business.

The West Africa Pre-Salt Forum, in Windhoek, looks at offshore pre-salt exploration in Angola, Namibia, Gabon and the Democratic Republic of Congo. An estimated 75 billion barrels of untapped oil are worth approximately $7.5 trillion.

Wednesday, December 5

Ireland looks to introduce its sixth austerity budget since 2007.

Related News: Ireland’s Painful 2012 Budget: 23 % VAT, €3.5bn in Spending Cuts

Related News: Irish Town Revives Pre-Euro Currency to Boost Economy

Sunday, December 9

The 19th annual World Islamic Banking conference in Bahrain promises the world’s largest annual gathering of Islamic finance leaders, 1,200 from 50 countries.

Related Story: What the West Can Learn From Islamic Banking

Related Story: Can Islamic Finance Repair The Modern Financial System?: Andrew Sheng & Ajit Singh

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