Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: In FX markets, the GBP was among the main underperformers in early European trade on Monday pressured by the results of a YouGov survey which revealed that, for the first time since the campaign began for the September 18th Scottish independence referendum, the “Yes” camp has taken a narrow lead scoring 51% vs. 49% for the ‘No” camp.
GREECE
In his keynote speech at the 79th Thessaloniki International Fair on Saturday, Greece’s Prime Minister Antonis Samaras announced a 30% reduction of the special consumption tax on heating oil and pledged a cut in the solidarity tax and an increase in the maximum number of monthly settlements for overdue tax payments and social security contributions, upon finalization of the 2015 Budget.
SOUTH EASTERN EUROPE
SERBIA: The dinar remained under pressure on Friday failing to capitalize much on renewed intervention by the National Bank of Serbia.
ROMANIA: The primary market auction of RON 100mn 2027 bonds, takes centre stage today.
BULGARIA: According to Finance Minister Rumen Porozhanov, the caretaker government intends to propose an increase in this year’s State budget deficit target to ca 2.6%-2.8% on a cash basis from 1.8% initially planned.
Dailyoverview September 8, 2014
