More EU Bad Economic Data: German Unemployment Worse Than Expected! Portugal’s Budget Deficit Widened; 5.15% SPAIN 10YR! Italian GDP Forecast Revised Lower And Political Deadlock Worsening!
German Unemployment Comes In Worse Than Expected
The German labor market is still the envy of the world, but this particular monthly datapoint wasn’t quite as hot as expected.
Rather than a net creation of 2K jobs (as expected) it was actually a loss.
Cyprus Market‏@russian_market5 min
German 10-year drops to 1.255%: lowest since August 3, 2012
Cyprus Market‏@russian_market7 min
German March Unemployment rose adj 13.000 vs. est. 2.000 drop
CYPRIOT BANK OPEN DOORS
At 6:00 AM ET, banks in Cyprus reopened their doors for the first time since March 16.
However, the crowds have been orderly.
Everyone is wondering whether there will be a huge run on the banks.
So far? Not yet.
Policeman tells queue, delay opening by five minutes: ” we’re not quite ready”. Queue up to about 30
Live webcast from Cyprus
Head of Italian statistics agency says GDP may fall by more than the 1.3% forecast by the government
ECB says deposits in Cyprus banks fell 4.3% in February
Cyprus Market‏@russian_market30 min
FORMER CYPRIOT PRESIDENT VASSILIOU SAYS EUROGROUP DIDN’T TREAT CYPRUS RIGHT
Portugal’s Budget Deficit Widened to 6.4% in 2012, was 4.4% in 2011 – INE
UBS: Monetary Unions Die Because Of Bank Runs
UBS Senior Economist Paul Donovan warns that a bank run in Cyprus would be bad news.
“Monetary unions die because of bank runs,” he writes. “The beeping heard from Cyprus is the sound of a monetary union on a life support system.”
Read more: http://www.businessinsider.com/monetary-unions-die-because-of-bank-runs-2013-3#ixzz2OpxwCpQw
‘THEY HAVE STOLEN OUR MONEY’
Gavin Hewitt‏@BBCGavinHewitt11 min
After the watching the pain of Cyprus worth keeping an eye on Italy. At the moment there is political deadlock # #Italy
MARC FABER: Not Even Gold Will Save You From What Is Coming