«Sometimes a bit underestimated and in the shadow of the French and German elections, the Dutch elections will be seen as another test case of whether populist parties can make it into government in a
core euro zone country,» Brzeski explained.
Wall Street stock futures are looking lower Friday following news that Greece's parliament has approved a third bailout for the country after an all - night session, but said it still must be approved by
fellow euro zone countries that have problems trusting Athens.
At the same time, Robinson warned that the European Central Bank is slightly reducing its bond purchases, which could mean higher borrowing costs
for euro zone countries in the future.
European Commission Vice President Valdis Dombrovskis said there was no easy way out of the crisis and the referendum result had widened the gap between Greece and
other euro zone countries.
The European Central Bank will coordinate the buying, Mr. Draghi said, but will delegate some of it to the central banks of the
various euro zone countries.
PARIS (Reuters)- Finance ministers of other
southern euro zone countries on Wednesday talked up the chances of reaching a cash - for - reforms deal with Greece, with Spain's Luis de Guindos saying he was certain it would happen.
Gold saw a sharp drop on concerns that
struggling euro zone country Cyprus would have to sell excess reserves of the precious metal to raise about $ 522 million to help finance that country's $ 13 billion international bailout.
Portugal, like Spain, has been among
the euro zone countries that have been most insistent on Greece committing to deep reforms, like other recipients of bailouts in the region have done.
Imagine if Draghi unexpectedly ditches the requirement to buy bonds in proportion to
each euro zone country's contribution to the ECB's capital.
Productivity has indeed risen sharply (see Figure 1 below), measured not only as GDP per worker (11 per cent since the onset of the crisis, the highest of any of
the euro zone countries), but also in terms of GDP per hour worked (8 per cent since 2008).