WORLD ECONOMIC & MARKET DEVELOPMENTS
GREECE: Greece’s Prime Minister Alexis Tsipras, Germany’s Chancellor Angela Markel and French President Francois Hollande are scheduled to meet late today in Brussels on the sidelines of the EU-Latin America summit. It is yet unclear whether EU Commission President Jean Claude Juncker will participate and it will depend on the extent to which the Greek government’s amended proposals are deemed as providing scope for convergence between the two sides on the key contentious issues. Focus today is on the ECB, which holds its weekly non-monetary policy meeting.
SOUTH EASTERN EUROPE
ROMANIA: According to media reports, citing unnamed sources, Romania’s lower house of parliament rejected on Tuesday a request filed by the Anticorruption Agency (DNA) to lift immunity of Prime Minister Victor Ponta under a formal investigation against him amid corruption allegations.
SERBIA: Speaking on the sidelines of the 15th Serbian Economic Summit, finance minister Dusan Vujovic said on Tuesday that public debt (as % of GDP) will likely start falling as early as 2016, outperforming an official 2017 target thanks to recently adopted IMF-backed fiscal consolidation measures.
CESEE MARKETS: Emerging stock markets closed broadly lower on Tuesday, extending their recent losses as increased expectations about a Fed rate hike sooner rather than later continued to weigh on investor sentiment towards risky assets. In view of mounting risk aversion, CESEE currencies remained under pressure on Tuesday.
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