Inflation in the Euro Zone declines to 2.8% in December

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Source: Marketwatch

The annual rate of inflation in the Euro Zone was 2.8% in December as compared to 3% in November, according Eurostat. The inflation rate basically was in compliance with expectations. However, the rate remains above the target of the ECB of 2%. After the release of data, the Euro depreciated against the USD and the pair EUR/USD was trading at 1.3043, down 0.05%.

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Thu, 05 Jan 2012 07:06:10 GMT

Hungarian currency hit all-times low

Hungarian currency, the Forint tumbled to a record low against the Euro on worries that country will not be capable to secure the bailout package from the IMF and the EU because of recently approved government's policies. The Forint fell to 319.35 per euro, reported FactSet. The deterioration of the country's economic conditions made Hungary more vulnerable to recession in the Euro Zone, said Benoit

Thu, 05 Jan 2012 09:47:06 GMT

Greece may need additional fiscal measures

Greece may need extra fiscal measures to comply with 2011 budget requirements, said the government spokesman. Moreover, the interim government developed 'very specific' measures to pursue the goal of staying in the Euro Zone, the official added.

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