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Eurozone trade deficit to jump to €2 billion

The eurozone’s external trade deficit is expected to rise to €2 billion (£1.77 billion), according to a first estimate by Eurostat, the Statistical Office of the European Communities.

In February last year, the eurozone’s trade balance with the rest of the world was €1.7 billion.

In February this year, compared with January this year, seasonally adjusted exports rose by 0.5% while imports fell by 0.8%, Eurostat says.

The first estimate for the trade balance of the European Union of 27 countries (EU27) was a deficit of €10.6 billion, compared with a deficit of 13.3 billion in February last year.

In the EU27, seasonally adjusted exports rose by 8.0%, while imports fell by 1.9%.

The largest external trade deficits were recorded in Britain (€8.9 billion), France (€5.6 billion), Spain (€4.1 billion), Italy (€3.6 billion), Greece (€2.3 billion), Portugal (€1.3 billion) and Poland (€1 billion).

The largest surpluses were recorded in Germany (€7.2 billion), the Netherlands (€3 billion) and Ireland (€2.9 billion).

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Foot review to consider interdependence between UK and offshore territories

Michael Foot’s review of British offshore financial centres will consider the degree of interdependence between overseas financial centres and the UK.The Promontory Financial Group chairman’s progress report on the independent review was published yesterday outlining its key terms of reference.In a letter to the Chancellor of the Exchequer Foot says many of the review themes […]

Schroder Income Maximiser switches sectors

Schroders has moved its Income Maximiser fund into the UK Equity Income sector to compete with similar vehicles recently launched by other groups. The fund was placed in the Specialist sector when it launched in 2005 because it was the only vehicle of its kind and to make sure investors were comfortable with the style […]

The fear market

Last week, I started my look at some important current realities underpinning investment attitudes and action. These were founded on research carried out with US investors and advisers but I believe that there are some useful insights that we can draw on when considering the UK.


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