Yesterday Germany's trade surplus in September was lower than expected, as surging imports outstripped exports, a sign that the weakness in emerging markets is forcing the economy away from its long-time reliance on exports. The trade surplus narrowed to EUR 19.4 billion in September from a revised EUR 19.7 billion in August, the Federal Statistical Office said Monday.
In a sign of solid domestic demand, Germany's imports in September surged 3.6% from August, and the adjusted value of total imports, at EUR 80.9 billion, was the highest since records began in 1991
Yesterday Greece announced that it was planning a return to global debt markets as early as next year. Given their already high levels of debt, however, Eurozone minister state that they will not recapitalise Greek banks until Greece has implemented its reforms.
Eurozone finance ministers have given Greece until the end of the week to make the necessary reforms needed to complete its bank bailout. Europe has put £10bn aside for Greece but Jeroen Dijsselbloem, head of the Eurozone finance ministers, said after a meeting of finance ministers in Brussels that "the agreed conditionalities need to be met". The Euro Working Group of deputy finance ministers would meet at the beginning of next week to discuss the progress made over the week
There are no key announcements today