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Europe Day Ahead: EU leaders wrangle over budget

Thursday, November 22, 2012 - 02:09

Nov. 22 - EU budget discussions over €1 trillion budget highlights disagreements between some member states. Talks promise to be potentially hard fought.

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Yeah it's. Yeah. EU commission stopped go on strike against wage cuts as European leaders meet to decide on a one trillion annual budgets. The focus this fight -- be whether or not you negotiators can agree on spending the next seven years. Britain and northern European space a furious cuts proposed tightening that you spend it. Well those -- that benefit most from you cash don't want not flow of funds to be cuts off. Proponents who stumbling mutated told some very important severity lost enough money for a number of years going forward. More importantly from the markets rose and the details of the budget is the highlights the ongoing disagreements and some of the year is a member states which has seen increased. Plenty on the -- front on Friday we stopped and Germany with the release of detailed third quarter GDP. This off the number of last week showed German growth slowed to two tenths of 1% in the July to September repeated. And later in the day the latest before business climate index is expected to slip for the seventh month and a role in November. Suggesting Germany is getting dragged deeper into the eurozone crisis. We'll also get the latest reading on the business climate and frogs 745 GMT and Italian retail sales for September -- nine. And Frankfurt European Central Bank president Mario Draghi will make a keynote speech at the European banking congress. ECB governing council member -- by -- German finance minister Wolfgang solid black and Swedish Central Bank governor of staff and in this will also speak at events. The focus of the congress will be on -- thinking banking and investment money economic and social policy. And finally European markets may be quiet again on Friday thanks to holidays overseas Japanese markets closed for their Labor Day on Friday. And many US traders and investors will take another day off what following today's Thanksgiving. Wall Street has officially open but the bond market will close -- Docile look ahead to Friday I'm Jamie media about this -- brought them.

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Europe Day Ahead: EU leaders wrangle over budget

Thursday, November 22, 2012 - 02:09

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