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The Greek government has had real problems imposing further austerity measures on the country’s historically bloated civil service and this is bound to cause further tensions. With German elections now only two months away it is unlikely Germany will be willing to show much flexibility as this would too easily be perceived as weakness by Angela Merkel’s opposition parties.
BP are once again finding the ramifications from the Gulf of Mexico disaster an issue as they are having to go back to court to try and stem the flow of opportunistic claims being lodged against them. Rather than slowing down, claims have seen an 18% increase over the last six weeks alone and with the deadline not until April 2014, there is beginning to be a fear that BP’s dividend may well suffer in order to cover its costs.
Alcoa will again ring the bell for the start of the reporting season in the US, and equity traders will be hoping that the slowly improving economic data from across the Atlantic will be backed up some positive company figures.