Chile: Michelle Bachelet wins presidential election in Chile
CNN reports that the center-left candidate, Michelle Bachelet, won the run-off elections which took place on 15 December. She won 62.3% of the votes, while her rival, Evelyn Mattei got only 37.7% of the votes.

Ireland: Ireland PM Enda Kenny says the country’s ‘credibility’ is restored
In a nationally televised speech Irish Prime Minister Enda Kenny declared that exit from the bailout program has restored the country’s “good name and credibility.” Starting this week, Ireland regains full financial independence and is able to borrow money on international capital markets. However, Kenny emphasized that this is just the beginning of Ireland’s recovery and that difficult economic decisions and much hard work lie ahead.

Germany: CDU/CSU and SPD form the Big Coalition
As the BBC News reported, three months after the general elections, CDU/CSU and the Social Democrats SPD have formed Government in Germany. The SPD will be in charge of the Economy Ministry, with the main task of conducting an overhaul of the energy system. For Angela Merkel’s third term, Wolfgang Schaueble (CDU) will be the Finance Minister, with the European banking union as one of the main challenges.

Ukraine: Ukraine and Russia to sign trade deal
According to the CNN, Ukraine and Russia plan to approve a road map to improved trade relations on Tuesday, as the Prime Minister Mykola Azarov announced on Sunday. The announcement came just hours after a European Union officer said the EU had halted work on a trade agreement with Ukraine, after Kiev failed to show “clear commitment” to signing the deal.

Spain: First quarterly increase in house prices since Q2 2010
According to the Wall Street Journal and the Statistics Institute of Spain, house prices increased a 0.7% quarterly in Q3, which marked the first increase in three years. The journal mentioned that, “the bounce in house prices reinforces views that Spain’s economy may have already left behind the worst of a five-year property bust, and may be seet on a path to modest economic growth next year.”

For latest economic indicators from around the world, please visit us at FocusEconomics.

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