Turkish Central Bank Governor Erdem Basci will brief President Tayyip Erdogan today about sharp falls in the lira of about 12 percent versus the dollar this year which have not been helped by Erdogan’s criticism of monetary policy.
The head of euro zone finance ministers urged Greece on Monday to “stop wasting time” and buckle down to serious talks on implementing a reform programme to secure urgently needed funds from its international creditors.
An economic trend, like a battle plan, often doesn’t survive the first engagement. Data from euro zone countries has generally surprised on the upside since the turn of the year with Germany leading the way. German growth was robust in Q4, with domestic demand to the fore.
Germany’s parliament will vote today on the extension of Greece’s bailout by four months and will duly back it though we can expect some grumbling from a clutch of lawmakers.
Greece sent an economic reform plan to its EU and IMF creditors overnight, according to an EU source, and euro zone finance ministers will this morning see the list which is a condition for extending the country’s bailout programme by four months.