Market information
Friday, November 18, 2011
Greece and holders of its debt hope to agree on a proposal to write off 50.00% of privately held debt before the end of 2011. This was announced on Thursday by the General Director of the international banks organization Institute of International Finance (IIF). This measure is expected to restore the confidence in the financial markets in Greece.
Today the 27 EU Member States and the European Parliament will meet to come to an agreement regarding the priorities and size of the EU's 2012 budget. Due to the Eurozone crisis, the EU member states state that the budget should only increase with 4.45% to 129 billion Euro. However, the Parliament expects that an increase of 5.23% to 133 billion Euro will be necessary to cover the EU expenditure.
The European Central bank (ECB) and the International Monetary Fund (IMF) are investigating ways to jointly tackle the debt crisis in the Euro zone. The ECB lending to the IMF should provide the fund with sufficient resources to support major European economies. As such, the ECB can indirectly support European countries in debt.
The 6M Euribor remained unchanged at 1.69%. The 10Y Swap increased with 11 basis points to 2.62%.
In the attachment below, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: .(JavaScript must be enabled to view this email address).
Page 1 of 1 pages
Economic view
Publications
New terms for a marriage of convenience
Impact of Basel III on corporate banking relationship
risk management, financing, treasury, cash management, working capital, investments, Basel III
Shift towards an American funding model
corporates, corporate lending, Greek default
Client Cases
Netherlands State Treasury Agency
Going the extra mile for the national treasurer
public sector, treasury management, financing, treasury, publieke sector
