- Antonis Samaras, Greek Prime Minister
Industrial production across the 18 member states that share the Euro increased for a second consecutive month in October, albeit at a slower pace than expected. The output produced by manufacturers, mines and utilities in the Euro zone climbed 0.1%, compared with am downwardly revised 0.5% in the preceding month and analysts' forecasts for a 0.2% rise. On an annual basis, industrial production increased 0.7%, up from September's downwardly revised 0.2% and in line with analysts' expectations. The recent data highlights the pessimistic sentiment in the Euro region, where stagnation and unhealthy-low inflation put more pressure on the ECB policy makers to deploy more aggressive stimulus in the near term.
Meanwhile, political tensions intensify in Greece, where Greek Premier Antonis Samaras warned that a possible fall of his government could push the country out of the Euro zone, the event which may dangerously complicate of potential full-scale quantitative easing in the Euro area. A parliamentary vote, due to begin next week, to replace the Greek president may trigger general elections in the new year, elections which the anti-bailout party Syriza could win. Samaras said that Syriza's its members are violating the constitution spirit and warned that the party's ‘statist' plans could lead Greece out of the Eurozone.
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