Uncertainty over the Greece deal may hamper the growing sign of economic recovery across Europe.Craig Dalton (Author) Published Date : Feb 11, 2015 04:43 ET
Economists have warned just before the Eurozone Financial Ministers meeting that the uncertainty over Greece may hamper the economic growth in Europe. A recent market data had suggested that the Asian stock market is trading cautiously at the wake of the Greek debate. EU leaders are attending an emergency meeting on Thursday as their Finance Ministers are meeting on Wednesday to work out a deal with Greece. On Thursday China s Central Bank said they are ready to fight the decline as shares in Shanghai edged up 2 percent. Chinese businesses are asking for more economic incentives after the recent data revealed the low inflation.
Australia s main index declined 06 percent, as the investors are coming back to the market after the Australian government had cut the domestic interest rate. The Dow ended up at 0.79 percent as well as S&P gained 1.07 percent. NASDAQ has also gained 1.3 percent yesterday as the USA economy is showing recovery. After Apple Inc. s share rose 1.9 percent yesterday they become the first US Company to value at more than $700 billion. The tech giant Microsoft sold $10.75 billion of debt as they drew order for around $39 billion.
As the Eurozone has been showing evidence of growth since the last recession, the negotiation over Greek debt is a concern for the European countries. For the last three months retail sales across Europe has been rising. Recent government data for job sector suggests that the hiring is on the high. In Greece and Spain more young people are getting hired than before. In recent economic data from Germany shows that the investors confidence in business is growing for the last six months. In Eurozone Purchasing Managers Index also indicates the business activity has been high in the last six months. The Purchasing Managers Index data is showing promising signs in Spain and Ireland. The auto industry across the world is also showing a rising trend as sales grew for the first time since 2007.
Uncertainty over the Greece deal may hamper the growing sign of economic recovery across Europe.