South Africa’s second quarter growth undershot economists’ expectations in spectacular fashion on Tuesday, a clear signal emerging markets face torrid times.
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.
EU foreign ministers hold an extraordinary meeting today after their leaders have asked them to consider possible new sanctions on Russia. A final decision to impose them is likely to be left to their bosses who meet in next month and again in March.
EU leaders said over the weekend they would be prepared to impose tougher sanctions on Russia, giving Vladimir Putin one more chance to douse the violence in eastern Ukraine and help investigators do their work at the site of the crashed Malaysian airliner or face the consequences.