New Tensions

The Ryder Cup had been a thriller for Europe but despite its victory, its single currency started off the week with a number of concerns over Spain bank’s capital deficit of 59 billion Euros. The three envoys from the troika have returned to Athens last Sunday and they want to finally wrap up the negotiations over a package of austerity measures. Additionally, thousands of demonstrators in Spain and France marched against these, reinforcing the already heightened economic and social tensions in Europe. In Asia, both China and Australia shared a weak PMI data therefore adding to the cautious mood. Read more