Sunday, October 07, 2012

Europe: Merkel Visits Greece on Tuesday and a few key dates

by Bill McBride on 10/07/2012 09:18:00 AM

A few key dates in Europe:
• Monday, Oct 8th, at 6 AM ET, Europe's European Stability Mechanism (ESM) will become active.

• Monday, Oct 8th, at 6 AM ET, The "Troika" Report On Greece will be released.

• Monday, Oct 8th, at 12 PM, EU Finance Ministers meeting in Luxembourg.

• Tuesday, Oct 9th, at 6 AM: Eurozone Finance Minsters Meet

• Tuesday, Oct 9th: German Chancellor Angela Merkel will visit Athens and meet with Greek Prime Minister Antonis Samaras.  Press conference to follow.

European Council meeting, October 18th and 19th in Brussels.

From the WSJ: Chancellor Merkel to Pay Visit to Athens

Ms. Merkel's trip is meant to show her support for Greek Prime Minister Antonis Samaras as his government struggles to agree on a new round of unpopular austerity measures, analysts say. The trip will signal the two leaders' attempt at easing strains between indebted Greece and its most powerful creditor, Germany.
...
Ms. Merkel will likely express sympathy with the Greek people's economic sacrifices, say analysts, while standing firm on Greece's need to implement promised spending cuts and economic overhauls.
...
A massive security presence is likely during the visit of Ms. Merkel, who plans to return to Berlin by Tuesday night. ... The expected protests could turn violent, as many demonstrations in Athens have in the past three years, which could sully the two governments' attempt to show a renewed fellowship.
Since Merkel is visiting Greece, it seems like the Troika report will be somewhat positive.

Friday on employment:
September Employment Report: 114,000 Jobs, 7.8% Unemployment Rate
Employment: Somewhat Better (also more graphs)
All Employment Graphs

Yesterday:
Summary for Week Ending Oct 5th
Schedule for Week of Oct 7th