Euro Zone's M3 money supply advanced more than expected in January

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Source: Forexpros
Euro Zone's M3 money supply increased more than initially projected last month, reported the ECB. The M3 money supply jumped by 2.5% on a yearly basis in January as compared to a 1.5% growth in December. Economists expected the M3 money supply to rise by 1.8% last month. Meanwhile, private sector loans increased by 1.1% on an annual basis, being almost in line with a 1.2% gain expected.
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Tue, 28 Feb 2012 09:45:10 GMT

S&P cut Greek credit rating to selective default

Standard and Poor's downgraded Greece's credit rating to selective default after the country agreed on the 70% debt reduction with private bondholders. The rating agency cited that terms of the deal escalated concerns over Greece's inability to repay its debts. However, S&P announced it would increase Greece's rating to CCC after the debt swap is complete.

Tue, 28 Feb 2012 10:00:27 GMT

European shares decline on G-20 announcement

European stock markets closed lower on Monday, pushed down by G-20 statement Euro Area should increase the financial fire-power by itself and only then call for more help. Nevertheless, losses were partly offset by better than expected pending home sales data in US. Stoxx Europe 600 index FTSE 100 each slipped 0.3%, German DAX fell 0.2% and French CAC 40 index tumbled

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