Britain’s preparing for  every eventuality as a result of the Eurozone crisis

LONDON (MNI) – Home repossessions held steady in the third quarter at just 0.08% of all mortgages, according to the Council of Mortgage Lenders. The number of repossessed properties in the third quarter was 9,200, up from 9,100 in the second quarter, a rise of 1.1%. The CML said the 0.08% figure had been the [...]

Data suggest credit supply conditions are tightening Govt debt will take time to stabilize Sees weak H1 in 2012 Budget cuts have become more urgent Eurozone debt projected to rise less quickly Govts not meeting deficit cutting  deadlines Will threaten sanctions against deficit cutting laggards

Just seen a sharp bounce in EUR/GBP as well from  0.8485 to  0.8544 which has helped EUR/USD up to 1.3618. Also now hearing that the giant panda may have been behind this latest move European equities return to positive territory on the day

FRANKFURT (MNI) – The inflation and GDP outlooks for the Eurozone were revised downward for both 2012 and 2013, while long-term inflation expectations remain unchanged at just above the European Central Bank’s medium- and long-term goal for price stability, according to the ECB’s poll of professional forecasters released Thursday. For 2011 as a whole, the [...]

Forecasts; Eurozone inflation  at 2.6% y/y in 2011, 1.7% in 2012 and 1.6% in 2013 Eurozone gen govt net borrowing 4.1% in 2011, 3.4% in 2012 and 3.0% in 2013    

Paris (MNI) – France’s economy will grow by only 0.6% in 2012, as Europe’s sovereign debt crisis and slow global growth take their toll, the European Commission said Thursday. In its autumn economic forecast, the EC said growth would slow from an expected rate of 1.6% this year. The EC said the slowdown in growth [...]

BERLIN (MNI) – The European Commission on Thursday forecast German GDP growth to slow to 0.8% next year from a projected 2.9% this year. In 2013, the Commission sees German GDP growth picking up again to 1.5%. “Downside risks have increased markedly and indicators are pointing to further moderation of growth in the second half [...]

I’m told by a usually  reliable source , this was announced on To Vima FM radio

Aug revised +3.9% (prv +4.3%) sharpest m/m drop since Dec 2008 Q3 Ind prod -0.1% q/q vs +1.1% rise in Q2 EUR’s off  around 15 ticks on the release around 1.3563  

Just popped up to 1.3570 taking out those stops in the 1.3560′s., with ECB now buying peripheral bonds through the SMP More offers now up at 1.3580/00, with larger up at 1.3610 Equities now also paring back losses

BERLIN (MNI) – The German finance ministry expects federal net new borrowing this year to amount to some E22 billion, way below the E48.4 billion earmarked in the 2011 budget bill, German business daily Handelsblatt reported Thursday, citing ministry sources. The ministry announced already last week that federal net new borrowing in 2011 would likely [...]

Glad something’s going up… European  indices mostly down over 1% elsewhere

Also hearing talk of a major German bank and Middle eastern in the mix  as we moved up into the offers from 1.3550 UPDATE: Widening yields spreads are  however weighing heavily

Party leaders have just begun a meeting at 0800GMT with the President to thrash out a coalition government. Latest reports put Papademos back in the frame for the PM job after Papndreou’s attempt to install a  personal ally  failed yesterday. EUR’s climbing  (in hope of some sort of result i guess…) and we’re sitting around 1.3535 now [...]

Turmoil dampens Swedish growth Expansionary policy means a stable economy in Sweden Will be a need to gradually raise repo rate to bring inflation close to target No funding problems with Swedish banks on international markets at the moment

FRANCE DATA: Sept industry output -1.7% m/m; Aug +0.5% m/m – Below expected; MNI analysts survey median forecast -0.6% m/m – 3Q industry output +0.8% q/q; 2Q -0.5% q/q – Sept mfg output -1.6% m/m after Aug +0.6% m/m (+0.7%) – For details see MNI MainWire

Ind prod much worse than expectations of -0.7% and  vs Aug unrevised +0.5% Mfg also down heavily from +0.6% in Aug

Some hefty selling from real money out of Sydney was responsible for the pre London shove down through 1.0100. We went as low as 1.0064 stopping short of sell stops now in place at 1.0050. I am also told by a very reliable source that strong exporter bids are likely to surface if AUD breaks down [...]

Getting a bounce here on the back of Dow Jones wire report that the big man is going to  resign on Sunday. EUR’s around  1.3517 after a pop up to 1.3524 on the news.