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Europe Day Ahead: Confidence ebbs as debt concerns grow

Monday, January 30, 2012 - 02:37

Jan. 30 - Europe's sky high sovereign debts return to centre stage as leaders hold their 17th summit in two years.

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Investor confidence falters there's the EU summit and I'm -- talks have a Greek debt restructuring takes center stage. Striking Belgian workers gathered outside the European council in Brussels the protest against austerity measures. The action was planned to coincide with a seventeen to use summits in two years -- -- to struggle to balance the need to generate growth as well as reducing deficits. And enough and still no agreement between Greece and its private sector bondholders. But yeah I'm -- -- level had a financial markets reset your rabobank is even with a deal Greece would still be facing serious long term structural problem. You see everyone's focusing on the east talks with the problem is that even if the talks now come to a smooth conclusion and there isn't too much litigation all of these are big question marks. If they've -- goes well the problem is that it only cuts Greek debt to a 120% by 20/20. And underlying that full cost. -- lot of too optimistic assumptions among which -- the privatization plans in Greece will go crew we are very skeptical about death. When looking at now to achieve status likely be more gloom on the jobs front -- across Europe. Unemployment rate for the euros and in December is full cost rising to ten point 4% from ten point 3% in the event that. Stubbornly high jobless numbers especially in the peripheral eurozone economies a scene as one of the Bloc's biggest political problems. In -- the number of young people out of work now exceeds those who have jolts. The Euro zone's biggest banks sometimes that reports fourth quarter results earlier this month sometimes that raised fifteen billion euros to -- history quad 9% school capital ratio of six months. In a -- to the deadline set by the European banking authority. But the group will be under scrutiny for the quality of its loan books that's bad debts are on the increase in spank. Investors will also be digging deep into production numbers from some of the world's largest resources companies fessed up Xstrata the world fourth largest copper producer. City says 2012 is likely to be a challenging yet for the company. India focused focused but that's also reports out what number is expected to be in homes by its acquisition of canned India. And Russia's second largest steelmaker severstal. Investors looking for signs went up ten off to Q3 missed estimates. Production numbers from big -- -- -- of -- relatively solid. Suggesting that global slowdown is not as -- -- -- with China continuing twin ports are closed at record levels. -- -- -- join us each weekday at midday GMT for an update on the big market trends and move is I'm not the -- this is righteous.

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Europe Day Ahead: Confidence ebbs as debt concerns grow

Monday, January 30, 2012 - 02:37