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Sunday, September 9, 2012

Euro zone enters dangerous week buoyed by ECB | Reuters - Isn't every day dangerous in the Eurozone???

A Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt September 6, 2012. REUTERS/Alex Domanski

(Reuters) - The euro zone enters a dangerous week, strewn with potential landmines, in a somewhat more optimistic mood after investors welcomed a European Central Bank plan to prevent a breakup of the single currency.
German judges, Dutch voters, IMF inspectors and Brussels regulators could all spring surprises that make it harder to resolve a sovereign debt crisis which is almost three years old and weighing on the world economy.
Wednesday is the main day to watch.
Germany's constitutional court rules then on the legality of the euro zone's permanent financial rescue fund, the European Commission unveils detailed plans for a euro zone banking union, and the Netherlands holds a cliff hanger general election.
Then European finance ministers meet in Cyprus from Friday to try to thrash out differences over banking supervision and possible extra aid for Spain, the zone's fourth biggest economy, and Greece, the problem country that first triggered the crisis.

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