Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The majority of European bourses were modestly weaker in early trade on Friday weighed down by market anxiety ahead of the April 17th meeting between OPEC and non-OPEC members where the possibility of oil production freeze will dominate discussions. In FX markets, the US dollar retained a firm tone ahead of the G20 Finance Ministers and Central Bank Governors meeting.
GREECE: Speaking in a press conference yesterday ahead of the commencement of the IMF/World Bank Spring Meeting today, IMF Managing Director Christine Lagarde expressed her skepticism over whether the fiscal target for a general government primary surplus of 3.5%-0f-GDP in 2018 embedded in Greece’s new bailout programme is feasible. According to the most recent Bank of Greece data, the total amount of funding taken from the Eurosystem dropped in March for the ninth month in a row coming in at €101.42bn, the lowest since January 2015.
SOUTH EASTERN EUROPE
ROMANIA: The parliament of Romania adopted with an overwhelming majority the debt discharge law.
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