http://www.dowjones.com/products/djfxtrader/articles/EUCRISISROADMAPKeyMiles tonesAhead.asp?from=
EU CRISIS ROAD MAP: Key Milestones Ahead September 28, 2011 By EVA SZALAY AND WILLIAM KEMBLE-DIAZ LONDON (Dow Jones)--Key developments on the Europe's crisis horizon include parliamentary votes across the euro zone to ratify a July 21 agreement to beef up the 17-member currency bloc's rescue fund, the European Financial Stability Facility. So far, Belgium, Finland, France, Greece, Ireland, Italy, Luxembourg, Portugal, Slovenia and Spain have ratified the EFSF's expansion and new powers, including the right to purchase bonds in the secondary market and provide funds to recapitalize banks. Several countries are voting this week while Cyprus, Malta, Slovakia, and the Netherlands are expected to vote in October. The known worry list is as follows: --Thursday, Sept. 29: The EU/ECB/IMF troika returns to Athens to continue assessing Greece's progress in cutting its budget deficit. The talks are crucial, because without the EUR8 billion bailout payment the country runs a high risk of going bust. --Thursday, Sept. 29: Germany's and Estonia's parliaments are due to vote on EFSF changes. Spanish banks face a deadline to meet new capitalization requirements. --Friday, Sept. 30: Austria votes on increasing the country's share of contribution to the EFSF. --Early October: Dutch parliament votes on changes to the EFSF. --Monday, Oct. 3: The meeting of euro-zone finance ministers. Markets expected this meeting to yield a decision on Greece's next aid tranche, but officials have sought to dismiss this. National and regional purchasing managers manufacturing data for September will highlight to extent to which the euro zone's debt crisis is spilling over into the real economy and increasing the risk of a euro-zone recession. --Tuesday, Oct. 4: European Union finance ministers meeting. Euro-zone unemployment data for September. --Wednesday, Oct. 5: National and regional purchasing managers' index for the services sector for September. --Thursday, Oct. 6: ECB rate decision, outgoing ECB President Jean-Claude Trichet's last press meeting in this role. Spain issues April 2014 bonds. France issues long-term bonds. --Tuesday, Oct. 11: Greek and Italian T-bill auctions. --Thursday, Oct. 13: Italian bond auction. --Thursday Oct 13. (date could shift) Additional meeting of euro-zone finance on Greece, believed to be for final decision on release of next bailout tranche. --Friday, Oct. 14-Saturday, Oct. 15: G-20 finance ministers meeting. --Monday, Oct. 17-Tuesday, Oct. 18: EU Council meeting --Tuesday, Oct. 18: Spanish and Greek T-bill auctions. --Thursday, Oct. 20: Spanish and French bond auctions. --Tuesday, Oct. 25: Spanish T-bill auction. --After Oct. 25: Slovak parliament votes changes to the EFSF. --Friday, Oct. 28: Italian bond auction. --Monday, Oct. 31: Belgian bond auction.
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