Markets  |  December 10, 2012 14:16:02

Monti resigned from the post of Prime Minister, Greece in 2014 will be the poorest countries in the euro area Equity markets in the U.S. last week recorded an additional accrual, their third in a row. This is the longest series of increments since August. To shares last week, helped largely by the results of PMI nevýrobného Fridays sector as well as data from the labor market when the U.S. economy created in November, almost double more jobs than expected. The unemployment rate also saw a further decline to shares and helped to grow even Friday: Dow Jones +0.62% SP500 +0.29%, Nasdaq Composite -0.38%.

Monti resigned from the post of Prime Minister

But the new week begins immediately with large administrations. Italian Prime Minister Monti said that the distance from my post right after the approved project budget for the coming year. Feels that one of Berlusconi's People Party for Freedom has been Takumi great support and probably will not solve vnútropolitické divisions and rather leaves. Flange Monti was a large supporter of the reforms, reacts to his departure výpredajom debenture market. Yields on Italian dlhopisoch risen and shows that Monti of Italy, was a good choice.

Italy cautioned agency S & P

Fridays warning agency Standard and Poor's that it may again cut Italy's rating when recession will persist even in the second half of 2012, so it may be more acute, since the change in policy toward the worse the situation may priťažiť. Agencies themselves have little confidence in the renewal of the second half, but even with a change in rating scales. Citigroup expects that Italy will be in recession until 2014, so the rating to BBB + with a negative view is really compromised. The decrease in neinvestičného zone while it is not too likely given the support of the ECB, but even this step can not be excluded, if the situation in the euro area will deteriorate.

Slovakia also has a high youth unemployment

The tragic situation again highlights eurozone pessimist Ambrose Evans-Pritchard of the Telegraph newspaper. It points out that the unemployment rate among young people reaching 58% in Greece, 55.8% in Spain, 39.1% in Portugal, 36.5% in Italy and 30.1% in the Slovak Republic. That, where not only the numbers but also the high-security contributions tax burden manifests itself, is a 60-year low revenue ratio of employment to the overall gross national income. Blamed for it, of course, unable to give flax Repeat tightening. The crisis showed that bubble declining competitiveness of some countries, spľasla.

Greece will be in 2014, the euro area's poorest countries

View it is very good for Greece. Once in the country in 2014 will end in recession, GDP will be lower by up to one-fifth compared to the situation before the crisis.Greek GDP per capita decreases toward the average of the EU countries to 71.3% from 79.8% last year. In this parameter vyjadrujúcom, as countries in per capita GDP lagging behind the EU average, even this year Slovakia overrun Greece (estimates come from the European Commission). Subsequently, in 2014, Greece becomes the poorest countries in the eurozone. Six years of recession will cause compared to 2009 forfeit standard of living really extreme. Unfortunately, the treatment is necessary and statuses by Greece and in the event of bankruptcy have to go through this exercise. Smack would be faster and be far panickejší.

View on today

Politics today dominates the market. That's what resonates in the ears of most traders are words Monti's plan for his resignation immediately after it is approved budget for 2013. The team opens scope for a return to the post of Prime Minister Berlusconi. He's raises distrust in the eyes of investors, since markets are moving about his ability to spend enough throttle. In addition, the still unfinished program of re-purchase debt Greece also is not too positive administration. Euro slides but still holds 1.2880, which supports the expectations reflected upwards. Flange Greek banks still not sold all the bonds, may be ultimately successful purchase. The offer has been extended until tomorrow 13:00 CET. Also information that the fiscal cliff could be resolved before Christmas, helping to maintain a strong euro slide.Today's macroeconomic calendar is empty and all they watch the markets, are yields on Italian dlhopisoch. Spanish from the front, in response to the Italian bonds also rise, the euro has no flange on retail management and resignation rather than decrease the level of 1.2880 seen as an interesting level to buy for growth toward 1.2950.

Author: John Benaki | TRIM Broker, as | Trading on exchanges TRIM Broker

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