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Markets climb despite UK, eurozone and US service sectors slowing

Markets climb despite UK, eurozone and US service sectors slowing

BRUSSELS: On Spain Dijsselbloem said it was up to the Spanish government to act on the opinion it had been given about the country’s budget, and to decide whether additional measures needed to be taken. The Eurogroup would take stock of the situation at an additional meeting about draft budgetary plans on 23 November.

Eurogroup welcomes Greek commitment but warns on Spain

The Eurogroup has welcomed Greece’s commitment to its bailout programme, said the group’s president Jeroen Dijsselbloem after the day’s meeting ended.

He say the most important thing was to conclude the first review as soon as possible. The first set of milestones had been agreed, and would have to be completed by the middle of October to unlock the next €2bn payment of the remaining €3bn. The next set of milestones will have to be worked on “with great urgency” and agreed by the end of October.

At the same time the ECB is assessing the Greek banks and recapitalisation will have to take place over November and December.