The latest euro zone flash purchasing managers’ indexes may have surprised slightly on the higher side, but many are still not convinced that better economic growth is coming later this year.
While Greece has been trapped in the clutches of an economic and sovereign debt crisis for half a decade, it has only been over the last month that the risk of leaving the euro has risen so dangerously high.
The recent green shoots emerging out of the euro zone economy could look a little more leafy on Thursday when data is likely to show a long-awaited recovery in private bank lending is starting to pick up pace.
The International Monetary Fund surprised on the upside with its programme for Ukraine last night, agreeing $17.5 billion in loans as expected but agreeing to pump $10 billion of that into the near bankrupt country over the next year and handing over $5 billion imminently.
Syriza has fallen tantalisingly short of an overall majority, winning 149 of 300 Greek parliamentary seats and taking 36.3 percent of the vote, 8.5 points ahead of the New Democracy party of Prime Minister Antonis Samaras in what amounts to a decisive rejection of austerity.
After European Central Bank chief Mario Draghi managed to mend fences and get his colleagues to sign up to his 1 trillion euros or so target to push into the ailing euro zone economy, Paris hosts its version of the Jackson Hole central bankers meeting.