- Posted by QFINANCE Editor, March 8, 2012
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Friday March 2
Last week ended with yet more news on the eurozone as 25 of the 27 EU leaders signed a new treaty, the "fiscal compact", to enhance budget discipline within the bloc. In order to be effectively applied though, the treaty has to be ratified by at least 12 countries of the eurozone. Many critics and analysis said the action was more of a political move to appease and reassure taxpayers in Germany.
More on BBC
Monday March 5
It wasn’t a very good start to the week for the markets as China’s growth targets for 2012 were cut down to 7.5%, the lowest in the past eight years. Chinese Premier Wen Jiabao declared that the priority for the coming year will be to boost consumption as the efforts will be to free the economy from its dependence on external demand and foreign capital.
More on Reuters
Tuesday March 6
In France, newly published numbers revealed that house pricing stopped rising around the end of 2011, as real propriety is in the very centre of the debates around the upcoming presidential elections in May. Many countries such as the US or India, don’t seem to have been significantly affected by the sovereign debt crisis. In fact, publish reports showed that India’s economy rose by 6.1% in the last quarter of 2011.
More on Le Monde
More on The Economist
Wednesday March 7
Uncertainty around the Greek deal as well as the Chinese slow down had a considerate effect on the markets. In the US, the Dow fell more than 200 points on Tuesday night, its worst day in 2012. It seemed to have picked up fast the next morning as the Banking stocks, who suffered the most the night before ended up the strongest sector on Wednesday.
More on Reuters
Thursday March 8
The markets are holding their breath tonight as 20:00GMT is the ultimate deadline for all the investors to sign a swap of bonds to keep Greece in the euro. The end of the day seems to bring more hope for Greece as officials declared that more than 75% of the bondholders had already agreed to take part.
More on BBC
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Tags: banking , central banks , China , economic recovery , EU , European Central Bank , European Monetary Union , eurozone , financial crisis , France , france elections , Greece , Greek debt , hedge funds , International Monetary Fund , sovereign debt , UK , US , US economy