Great Recession in Europe
The deterioration of the investment climate in emerging markets, along with the still fragile picture in Greece, despite its exit from the bailout program, and talk of government handouts ahead of the Thessaloniki International Fair are driving investors away from Greek securities, with bond yields climbing to three-month highs on Wednesday.
Turkish manufacturing activity contracted for the fifth consecutive month in August as output and new orders slowed down on the back of a currency crisis, a business survey showed on Sept. 3.
The German economy accelerated slightly in the second quarter to grow by 0.5 percent compared with the previous three-month period, official data showed Tuesday, performing a little better than economists had expected.
Greece's borrowing costs fell to four-week lows on Friday after the country was granted debt relief from the eurozone.
Eurozone finance ministers early on Friday extended maturities and deferred interest of a major part of their loans to Greece along with a big cash injection to ensure Athens can stand on its own feet after it exits its bailout in August.
Germany's central bank said on June 15 that it had sharply downgraded its economic growth forecast for this year but grew more optimistic for 2019, saying the present boom should continue although the danger of a trade war is rising.