Key Economic News to Watch This Week: February 25

Last Updated: 25, February 2013

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Italy votes for the second day on Monday in one of the most closely watched and unpredictable elections in years. Any shock result or political stalemate could reawaken the threat of market instability, jeopardising investor confidence and hurting the eurozone’s economic recovery.

Monday, February 25

Italians vote on the second day of general elections amid the country’s worst recession in two decades and austerity measures that have caused widespread public resentment. The first results will be out by Monday evening and the eventual outcome will be crucial to the survival of the Italy and the euro.

EU-Ukraine summit takes place in Brussels and both sides will attempt to create a roadmap for closer ties and trade. The meeting marks the first thaw in frosty diplomatic relations after the EU shelved talks amid outrage over the jailing of former prime minister and opposition leader Yulia Tymoshenko.

Sixty-year-old conservative Park Geun-hye is sworn in as South Korea’s first female president. Park has pledged to secure Seoul’s security against increased provocations from Pyongyang, as well as to rejuvenate a sluggish economy.

Tuesday, February 26

The Institute of Energy Economics of Japan and the International Energy Agency launch a report: “Developing a Natural Gas Trading Hub in Asia”.

Poverty charity Oxfam releases “Behind the Brands”, an analysis of the business practices of the leading food and beverage companies and the impact they are allegedly having on global food insecurity.

Wednesday, February 27

Pope Benedict XVI holds a general audience at the Vatican in Rome, his last public appearance before he steps down on Thursday after an eight-year reign.

Friday, March 1

Automatic U.S. spending cuts that were postponed in January will start to take effect on 1 March. According to a report by the Washington Post, US politicians have not made any progress in negotiations and appear to be “resigned” to let the cuts take effect.

Random beef testing for horse DNA and the equine drug bute will begin in European Union states for three months. French’s agriculture minister on Saturday confirmed that three horse carcasses tainted with the veterinary drug have “probably” entered the food chance, but added that the drugs “do not pose a risk to health”.

Saturday, March 2

EU trade commissioner Karel De Gucht visits the United States for talks about a comprehensive free trade agreement.

A Portuguese initiative “To hell with the troika” stages a nationwide protest against the government’s austerity programme, the latest in a series of demos.

Sunday, March 3

In a referendum held in Switzerland, voters will be asked whether they support an initiative on executive pay. If passed it would introduce binding shareholder votes on salaries, and ban so-called golden hellos and parachutes. Some 100,000 citizens support a petition to limit “fat-cat” pay.

About EW News Desk Team PRO INVESTOR

Latest news about the state of the world economy.

View all posts by EW News Desk Team