Governatives

The Eurogroup will hold a special meeting to examine the situation of macro-economic adjustment program for Greece. The meeting is scheduled Monday, May 9 starting at 15 in Brussels.

The meeting of ministers of the euro zone Finance, anticipated in late April via Twitter by the spokesman of the President of the Eurogroup, Jeroen Dijsselbloem, "will focus on a comprehensive list of policy reforms and the sustainability of the Greek public debt." "To carry out the first review of the program and unlock additional financial assistance in favor of Greece both of these elements must be defined," he said on the European Council website.

The EU Commission sees continuing in Italy a "moderate growth" but revises downward the GDP 2016: 1.4% expected in February goes down to + 1.1%. Brussels confirms, then, the estimates on Italian unemployment in 2016 (11.4%) and slightly lower than the 2017 (from 11.3% to 11.2%).

In the spring forecast, Brussels also revise downward the Italian deficit of 2016 (from 2.5% forecast in February down to 2.4%), but raised the estimates for the one of 2017 (from 1.5% to 1, 9%). The structural deficit instead, "after a marginal improvement" in 2015, "worsens by more than half a percentage point in 2016", reaching -1.7%. It remains unchanged in 2017.

France is opposed in a decisive manner transatlantic trade agreement of free trade between Europe and the United States, known as TTIP, Transatlantic Trade and Investment Partnership.

French President, Francois Hollande, said he was opposed in the cartel and the secretary of state Matthias Fekl, foreign trade, criticized the persistent position of the Americans and the lack of reciprocity, demanding an end to the negotiations.

The activities of the Chinese manufacturing sector contracted for the fourteenth consecutive month in April, thanks to stagnant demand, thus forcing firms to cut jobs at a more intense pace.

This is what emerges from the economic edited by Markit / Caixin, which tracks the performance of medium-sized companies, according to the SME development index (Purchasing managers’index).

The fate of the 500-euro banknotes is marked: the Governing Council of 4 May the ECB will decide the abolition mode.
In the stores it will still be accepted, but the production is going to be interrupted. It seems to have come to an end the 500-euro note, long been a target of the EU institutions to be used in criminal activities and money laundering. According to Handelsblatt, in fact, the ECB Governing Council in the May 4 will decide the manner in which the abolition will be performed.

Slight upturn in inflation in the Euro Zone. In March, producer prices have marked a rise of 0.3% compared to 0.7% reported not revised the previous month. The figure, announced by the European Union statistics (Eurostat), is better than the estimates of analysts who had expected a 0.1% decline. On an annual basis there was instead a decrease of 4.2%, as in the previous month.

The king of Spain Felipe has dissolved parliament and called new elections for Sunday, June 26.

"We hope we have all learned the lesson and that the next parliament to agree (on the government) as soon as possible," said the chairman of Patxi Lopez at a press conference in which he confirmed the signature of the king of the decree index voting. The last elections were held in Spain last December, but months of negotiations have failed to produce an agreement between the political forces to form a new government.

In April, the activities of the Chinese manufacturing sector marked the second consecutive monthly expansion, but the pace of growth remains marginal.
The data comes from the index PMI (Purchasing managers’ index) prepared on the basis of an economic survey in the institute care of Statistics. The index is passed to 50.1 from 50.2 in March, remaining over the threshold 50, then into expansion territory, but below the consensus 50.4.