Saturday, August 25, 2012

European Financial markets outlook september 2012

European Financial markets outlook september 2012 : Financial markets have been optimistic that Europe -- and particularly the ECB -- will finally come up with decisive action in a busy month of euro diplomacy in September to resolve the shared currency bloc's sovereign debt crisis.

Spain, the latest hot spot in the 2-1/2-year euro zone debt crisis, is in talks about conditions for aid to bring down its borrowing costs, though it has not made a final decision to request a bailout, sources said this week.

The country has said it would wait until the next ECB meeting on September 6 2012 to hear any details on how the ECB plans to intervene before deciding on any move.

ECB President Mario Draghi signalled earlier this month that the central bank may start buying government debt to bring down crippling Spanish and Italian borrowing costs.

With sources saying Spain may be on the brink of a sovereign bailout, Europe and the IMF are keen to stress the importance of the strict conditions for the aid they extend.

Samaras said that Greece would do whatever it took to get out of the crisis, adding that he had assured the French president Greece was determined to remain in the euro zone, which would show that Europe was capable of solving its problems.

"Some are betting that Greece will not make it. I am here to assure the French president that Greece is determined to make it and it will," he said.

The Greek leader added that economic recovery was crucial to help it meet its targets.

Hollande said that he wanted the question of whether Greece stays in the euro zone or not to stop being an issue.

Merkel on Friday also reassured Samaras that she wanted Greece to stay in the euro zone, but gave no sign of ceding to his pleas for more time to meet the tough terms of Athens' international bailout.

She also stuck doggedly to her policy of deferring to the troika report, though she did say that she and Hollande were in no doubt they wanted Greece to stay in the single currency.

The French and German leaders had coordinated their stance on Greece over dinner in Berlin on Thursday.

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