Ukraine: Ukraine hoping for USD 35bn in financial assistance
According to the Kyiv Post, interim president Oleksandr Turchynov suggested that Ukraine’s international partners (Poland and the United States) are set to provide USD 35 billion in financial aid to the country in the next weeks. The announcement comes amid the deterioration of the hryvnia (UAH) in the interbank market and the downgrade of the country’s credit rating by Standar and Poor’s in the last week.
Euro Area: Higher than expected inflation adds to deflation discussion in Euro Area
According to Bloomberg, Euro Area CPI index grew more than initially estimated in January, easing pressure on the European Central Bank to take action next month to counter low inflation and spur growth. Despite the reading, ECB President Mario Draghi said over the weekend that policy makers are ready to add to stimulus if the outlook deteriorates, though there are currently no signs of deflation.
Greece: Greece resumes protracted bailout talks with lenders
Greece resumed bailout talks with its international lenders today, hoping to end six months of wrangling over the release of new rescue loans it needs to avoid default, according to this article published by Reuters. At stake is the disbursement of funds to repay 9.3 billion of bonds maturing in May, the biggest single debt redemption Greece faces in the next three decades.
Germany: German business morale hits 2.5-year high
In February, German business sentiment reached its highest level since July 2011. Despite this positive news, recent hard data, including exports and industrial productions in December were rather subdued.