Germany's business confidence surprisingly
surged in December for the second consecutive month, indicating the country is
coping well with Eurozone's debt crisis. Business climate index, estimated by
Ifo institute advanced from 106.6 in previous month to 107.2 in December.
Economists surveyed by Bloomberg predicted a decline to 106. Reading show
German firms do not believe in worst crisis scenario, said Alexander Koch, UniCredit's
economist in Munich.