ECB lowers interest rates

Note: This section contains information in English only.
Source: BBC
European Central Bank (ECB) has unpredictably lowered the interest rate from 1.5% to 1.25%. According to ECB president Mario Draghi, several predictions regarding economic growth in 2012 have been revised downwards and therefore initiated interest rate cut.  Draghi characterized eurozone as a highly uncertain economic environment facing many challenges that can hinder economic growth. 
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Thu, 03 Nov 2011 17:00:47 GMT

US stocks review their track

US stocks returned back to an upward trend after investors gained clarity regarding ECB interest rate cut and Greece's referendum. Dow Jones Industrial Average gained 106.56 points, S&P 500 Index climbed 8.69 points while Nasdaq Composite jumped 19.86 points. Major retrieval came from announcement that Greek prime minister abandoned the plans for referendum on EU bailout plan.

Thu, 03 Nov 2011 16:32:58 GMT

Question on Greek referendum remains open

Greece Prime Minister and the referendum initiator George Papandreou said on Thursday that nations' opinion is required as alternative in case the strong opposition in Greek parliament will not back the bailout package agreed earlier. He stated that if the opposition will support tough bailout requirements, the referendum is not a necessity.  

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