Japan: Japan’s Current Account Deficit Rises To Record High
As stated by the BBC, in January Japan’s current account deficit rose to JPY 1.5 trillion, reaching its highest value since 1985. Further, economic growth figures of 2013 were revised down to 0.7%.
Eurozone: Bad Loan Triggers Key Feature In ECB Bank Test Announcement: Sources
Reuters reports that ECB is expected to reveal on 11 March how it will test the balance sheets of the euro zone’s biggest banks. The tests are being done mainly to restore investor confidence before the ECB becomes the euro zone’s banks’ supervisor in November.
Cyprus: Central Bank Governor Resigns
According to the Wall Street Journal, Cyprus’s central-bank Governor Panicos Demetriades sent his resignation letter to the country’s president. Demetriades has had a tumultuous relationship with his country’s government. Both the president, Nikos Anastasiades, and the finance minister, Harris Georgiades, have criticized him over the handling of Cyprus’s banking crisis last year.
Ukraine: Ukraine Military Forces Increase Presence In Crimea
Bloomberg reports that Ukraine began military drills as Russian forces tightened their hold on the Crimean peninsula and the Foreign Ministry in Moscow warned of “lawlessness” in the former Soviet republic’s eastern provinces.
Russia: Merkel And Putin Hold Talks Over Crimea
Germany’s Angela Merkel delivered a rebuke to President Vladimir Putin on Sunday, telling him that a planned Moscow-backed referendum on whether Crimea should join Russia was illegal and violated Ukraine’s constitution, as Reuters reports.