European stocks were trading higher on Thursday, following reports that the BoJ is considering to intervene with extra ¥10 Trillion in asset purchases. Hopes for the recession coming to an end in the UK rose after the release of better-than-expected third quarter GDP data, which showed a 1% increase. Various officials have also been giving contradiction declarations on the state of the bailout negotiations between Greece and the Troika.
Confusion surrounding Greek bailout deal grows
Following Greek Finance Minister Yannis Stournaras' declarations on Wednesday, that Greece reached an agreement with the Troika on the EU bailout program terms, contradicting information on the actual progress of the negotiations is flowing in from various sources on Thursday.
Despite yesterday's announcement that Greece would be granted a two-year extension of the deadline by which it is supposed to implement the austerity measures agreed upon during the talks with the Troika, various officials have been denying the news.
ECB president Mario Draghi said that the negotiations were still not over while ECB board member Jörg Asmussen stated that the alleged extension “would mean the other eurozone states having to provide more financial means.” Neither Finance Minister Wolfgang Schäuble nor European Commission officials could confirm Yannis Stournaras' claims, when inquired.
On the other hand, German newspaper Handelsblatt published an article on Thursday in which it suggests that negotiations have been finalized and that Greece would be grated the next tranche of the bailout of around 16-20 billion euros.
Ireland to grow 1% in 2013, says IMF after Troika approves Irish accounts
Ireland would be the first rescued country to grow in the Eurozone after the IMF published an inform that say the Irish's GDP will grow at the 1% pace in the 2013. The decision comes following the troika approval of the Irish government job on budget and reforms.
In this line, the troika has also approved the next bailout eighth tranche valued by EUR2.2 billion. European Commission's official Olli Rehn is pleased with the efforts but he reminded that unemployment is still too high.
Moody's finalizes rating reviews on Spanish banks
Moody's has concluded rating reviews on a large pool of Spanish banks; in total 31 groups were assessed. Banco Santander was affirmed, standing with senior long-term rating at Baa2, outlook negative. Moody's also affirms Banco Espanol De Credito; La Caixa was given a negative outlook, while other banks like Banco Popular Espanol or Caja Laboral were put on review for downgrade.