Turkey’s parliament has voted to give the government a green light to order military action against Islamic State as the insurgents tightened their grip on a Syrian border town, sending thousands more Kurdish refugees into Turkey.
There is little sign of it being put into imminent use but the vote gives the government powers to order incursions into Syria and Iraq to counter the threat of attack “from all terrorist groups”. By common consent, western air strikes alone are unlikely to vanquish IS and there is a great deal of doubt that Syrian and Iraqi forces can best them on the ground.
Service sector PMI surveys for euro zone member states, Britain and others are forecast to show France and Italy languishing in contractionary territory while Spain achieves quite strong growth.
There is a health check with these figures. Germany’s PMI readings also look strong but Europe’s largest economy is expected to achieve little or no growth in the third quarter of the year, having contracted in the second.
The European Central Bank rolled out further measures to foster bank lending into a stagnant economy and admitted yesterday that “survey data available up to September confirm the weakening in the euro area’s growth momentum” though it predicted modest expansion in the second half of the year.