Optimism prior to extraordinary meeting of euro zone finance ministers

Review: European PMI data marginally better than expected. European PMI data were somewhat of a mixed bag (industry: 46.2 (expected: 45.6) and service: 45.7 (expected 46.0)). The reaction in respect of EUR was positive. Consumer confidence in Europe has fallen to the lowest level since 2009. Stabilisation had been expected. Lower consumer confidence is a long-term problem if the trend prevails. Rumour has it that Cyprus is close to getting a rescue package from the EU/IMF. Reportedly Cyprus

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Optimism prior to extraordinary meeting of euro zone finance ministers

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