Ukraine to get serious money

By Mike Peacock
March 12, 2015

International Monetary Fund Managing Director Lagarde speaks about the situation in Ukraine at a news conference in Brussels

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.

Greeks bearing letters

By Mike Peacock
March 9, 2015

Varoufakis arrives at a news conference after an extraordinary euro zone Finance Ministers meeting in Brussels

Greek Finance Minister Yanis Varoufakis must face the music once more at a Eurogroup meeting of euro zone finance ministers.

Demand-led German recovery

By Mike Peacock
March 6, 2015

The factory of the company Kronospan is pictured during sunset at the east German town Lampertswalde

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.

Euro zone data starting to surprise on the upside

By Mike Peacock
March 4, 2015

A truck passes through an electronic toll gate on the A10 highway south of Berlin

A day before the European Central Bank’s monthly meeting, service sector PMI surveys for euro zone countries will be scrutinized to see if they add to a developing trend of above-forecast economic data.

Turkish interest rate standoff

By Mike Peacock
March 3, 2015

Turkey's President Tayyip Erdogan gestures during a conference at the Foreign Affairs building  in Mexico City

Turkey’s central bank releases minutes of its last meeting at which it cut interest rates by a quarter point.

Restive Bundestag to approve Greek bailout extension

By Mike Peacock
February 27, 2015

German Chancellor Merkel, members of government and parliament observe a minute of silence during a session of the lower house of parliament Bundestag in Berlin

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.

Whisper it, is the euro zone perking up?

By Mike Peacock
February 26, 2015

People walk into the the Mall of Berlin shopping centre in Berlin

The drama of Ukraine and Greece has left old-fashioned economic data in the shade so far this year but, quietly, there are some signs of improvement for the moribund euro zone economy.

The Greek plan is in, breath bated

By Mike Peacock
February 24, 2015

Varoufakis arrives at a news conference after an extraordinary euro zone Finance Ministers meeting in Brussels

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.

Eurozone awaits Greek reform list

By Mike Peacock
February 23, 2015

Greece's PM Tsipras addresses a news conference after an EU leaders summit in Brussels

A Greek deal has been pulled from the fire at the last moment. The country’s bailout programme will be extended for four months averting a potential cash crunch in March that could have forced the country out of the currency area.

A moment of truth

By Mike Peacock
February 16, 2015

Greek Finance Minister Varoufakis holds his speech notes before a vote of confidence at the parliament in Athens

A meeting of euro zone finance ministers is tasked with producing a deal to keep Greece solvent, which is acceptable to both sides. A similar meeting last week got nowhere despite seven hours of talks.