Last week Spanish Finance Minister de Guindos stated that Spain doesn’t need a bailout. That statement was met with laughter, but to his credit Spain has not asked for a bailout… this week. During the IMF – World Bank forum in Tokyo this week de Guindos made sure to dispel the rumors in the market about any political pressure on Spain not to ask for the bailout.
During the IMF – World Bank annual meeting the head of the IMF and some officials from the European Central Bank and European Comission got into a difference of opinion about how to proceed with Greece. The IMF would prefer an extension to the agreement along a haircut on the debt. ECB and EC would like Greece to honor the agreement and no haircut.
- EUR Hanging Tough
- Rift Growing between IMF and rest of Troika
- Spain Downgraded and Still no Bailout Request
- Spain Has Plan Might Involve Bailout Request
- Portugal to Exchange Next Year Bonds for 3 Year Notes
- UK Constructions Falls in Q3
- IMF Supports Greece Request for an Extension
- EU Leaders Will Consider a Separate Eurozone Budget at Meeting in Brussels
- Germany Proposes Tax Cuts Again as Rest of Europe looks at Austerity
- Greece Unemployment Hits Record 25 percent
- German Economic Institutes Criticize ECB
- IMF Warns of Slower Expansion and Risk of Deeper Global Slump
- Europe Hails Greece’s Determination to Reshape its Economy
- Euro Remains Below 1.30 after IMF Cuts Europe’s 2013 Forecast
- European Finance Ministers to discuss Spain’s overhaul effort
WEEK AHEAD
- ALL IMF – World Bank Annual Meetings
- CNY Consumer Price Index
- USD Advance Retail Sales
- NZD Consumer Prices Index
- AUD Reserve Bank Board – October Minutes
- GBP Core Consumer Price Index
- EUR Euro-Zone ZEW Survey
- EUR Euro-Zone Consumer Price Index
- USD Consumer Price Index
- GBP Bank of England Minutes
- GBP Jobless Claims Change
- EUR German Producer Prices
- CAD Consumer Price Index
