Greek Finance Minister Yanis Varoufakis must face the music once more at a Eurogroup meeting of euro zone finance ministers.
Markets are beginning to ponder just how definitive the European Central Bank may be next week in launching quantitative easing. One reason is today’s ruling at the European Court of Justice.
With all the QE-bashing that went on at the Federal Reserve's Jackson Hole conference this year, it was difficult not to get the sense that, barring a major economic disappointment before its September meeting, the central bank is on track to begin reducing the monthly size of its bond purchase program, or quantitative easing.
Indian shares ended in the green in three of five trading sessions but jittery market reaction to the U.S. Federal Reserve’s announcement of a gradual end to its $85 billion bond-buying stimulus took the BSE Sensex down 2.1 percent for the week. The broader 50-share Nifty lost 2.4 percent.
Italy continues to dominate European financial markets and it looks like the best they can expect is populist Beppe Grillo supporting some measures put forward by a minority, centre-left government but refusing any sort of formal alliance. That sounds like a recipe for the sort of instability that could have investors running a mile. Outgoing technocrat prime minister Monti is speaking Brussels today. The markets’ best case was for him to support the centre-left in coalition, thereby guaranteeing continuation of economic reforms. But he just didn’t get enough votes.
Tim Ahmann contributed to this post
Suddenly top Wall Street firms are talking about the possibility that the Fed might adopt numerical thresholds for asset purchases, in the same way it has done with interest rates more broadly.