Market information

Monday, November 07, 2011

The Greece ministers have agreed Sunday night on forming a new government of national unity that should help solving the country's debt crisis. Papandreou has also agreed that he would not lead the new government. Today, the ministers try to agree on a new prime minister. A government spokesman announced Sunday that Greece expects to have a new cabinet within one week.

The European Central Bank has put the Italian government under pressure to reform. The ECB did this via the Luxembourg ECB Board member Yves Mersch. Mersch stated that the purchases of Italian bonds by the ECB will be made dependent on the progress of the Italian reform.

The German Chancellor Angela Merkel announced Sunday that the presidents of the German coalition parties CDU, CSU and FDP have decided to create tax cuts. The tax cuts will allow citizens to spend billions of extra euro’s in the coming years. Through this initiative Germany wants to make a greater contribution to the economic growth in the EU.

The Belgian business newspaper, De Tijd, reported Saturday that the Belgian government will probably not meet the budgetary goal as stated by the EU. Reason for this is that the Belgium government has not made enough efforts to get the budget in order. Belgium must decrease the annual budget deficit between 2010 and 2012 by 0.75 percent and in 2012 by 3 percent.

The 6M Euribor decreased by 8 basis points to 1.70%. The 10Y Swap decreased by 7 basis points to 2.49%.

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).

Download market data