* Greece may have to get out of the euro area
BAGHDAD (Reuters) – While the hit European bond markets under pressure ahead of the important round of debt auctions, said Pantelis Kapsis, a spokesman for the Greek government “does not need to sign the agreement, otherwise we will be outside the market, and outside the euro area. which will make things then even worse” . They noted in this regard, the newspaper “Telegraph” to the British that Greece is struggling to pass a strict austerity measures necessary to secure the second rescue plan. She noted that international officials are preparing to carry out the examination of Mali in Athens that will determine the items bundle Rescue approved in principle in October (October). also raced Greece time to reach an agreement with the holders of sovereign bonds from the private sector. The two agreements should be signed by them, whether Greek officials want to avoid the risk of faltering during the great fire of bonds due in March. Kapsis also pointed out that it can not eliminate the need for further cuts. He said in remarks made by Greek television, “we will see, there may be a need to take additional measures. And the period of three to four months to come are most important and this is the reason for their presence the government.” This has been dominated by a state of satisfaction to the merchants of shares as a result of favorable economic data coming China and America. As a state of optimism generated by the emergence of signals function to challenge the German job market of the crisis. Where the Federal Labour Office said that unemployment in Germany fell by 22 thousand during the month of December last, which is more than twice the expected level – to 6.8 percent after it had been 6.9 percent. However, there was evidence of continuing concerns about the debt crisis, where unemployment rose again in Spain during the month of December, where it has increased in 2011 to 7.9 percent or 4.42 million people. And found that one third of the unemployed in the euro area almost from the Spanish. The figures showed that the banks have resorted to the European Central Bank in order to obtain special loans for emergencies last Monday evening, where they withdrew a total amount of 14.8 billion euros from the “marginal lending fund.” As bond yields rose, French, Spanish and German as well as the center of tensions on the auction bonds. is due to meet German Chancellor Angela Merkel and French President Nicolas Sarkozy in Berlin on Monday to prepare for the next summit of the leaders of the European Union later this month. However, the leaders is close to what seems to agree on radical measures to save.
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