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06:45 France Trade Balance, bln August -4.3 -4.9 -5.3
07:30 Eurozone ECB President Mario Draghi Speaks -
08:00 Eurozone ECOFIN Meetings -
08:30 United Kingdom Industrial Production (MoM) August +2.9% -0.5% -0.5%
08:30 United Kingdom Industrial Production (YoY) August -0.8% -1.1% -1.2%
08:30 United Kingdom Manufacturing Production (MoM) August +3.2% -0.6% -1.1%
08:30 United Kingdom Manufacturing Production (YoY) August -0.5% -0.6% -1.2%
08:30 United Kingdom Trade in goods August -7.1 -8.3 -9.8
ECB President Draghi, in his speech presented the European Systemic Risk Board, which must ensure the support of macro economy. He reiterated the need for financial reforms and noted that the proposal for a bank union welcomed by the Council, which should give investors confidence in the quality of bank assets. Surveillance will help to restore confidence in the financial system. Earlier, Spain's Finance Minister said that the Eurogroup endorsed the recently announced government measures, but did not discuss further changes.The euro slid against all but two of 16 major peers tracked by Bloomberg after the International Monetary Fund also said the region’s economy will shrink this year more than previously forecast. In addition, the IMF has revised a fall forecast global growth to 3.6% in 2013 (from 3.9%), stating as a reason for "substantially increased" the risk of a more serious decline than expected.
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