According to Eurostat data the eurozone inflation of 3% is stable and possibly the peak of the iceberg. Just to put this in context, one year ago, the rate was at 1.9%. read article
In preparation for Friday’s meeting of Merkel and Cameron, read this. The UK feels like there’s a conspiracy against it and that the transaction tax is only being proposed to make them worse off. About the tax: on the one hand, it could raise up to €57bn a year; on the other hand, it could increase market volatility, distort prices and force a relocation of investments to places without the tax. Core Europe in favor, US and UK against.
The UK added 129,000 jobless claims between July and September, reaching an unemployment benchmark of 8.3% that was last hit in 1994. That’s pretty bad, but last month, jobless claims only reached about a quarter of the expected 20,000. Woohoo. As part of crisis-related austerity measures, the government expects to cut 400,000 jobs in the public sector, but expects private sector employment to increase. read article
Some pretty data from The Big Picture (actually from McKinsey) on cross border investments: read article
If you’re dizzy from all the numbers, read Felix Salmon’s write-up of yesterday’s Munk debate between Paul Krugman and Larry Summers. read article