Europe crisis road map

Europe crisis road map: known worry list

Tuesday: First meeting of new Spanish parliament after election. Spanish, Greek and Belgian T-bill auctions. German ZEW economic sentiment indicator for December.

Wednesday: Italian bond auction. ECB 7-day dollar tender. EU industrial production data for October.

Thursday: Spanish bond auction. Euro-zone-wide manufacturing and services sector PMI data for December.


Monday, Dec. 19: EUR 1.22 billion of Greek debt falls due. ECB's weekly bond-purchase data. French T-Bill auction.

Tuesday, Dec. 20: Spanish and Greek T-bill auctions. Announcement by ECB of 13-month long-term refinancing operation. German December Ifo business climate index.

Wednesday, Dec. 21: Portuguese T-bill auction. Swearing in of Mariano Rajoy as Spanish prime minister and disclosure of new cabinet expected around this time. ECB 7-day dollar tender.

Thursday, Dec. 22: EUR980 million of Greek debt falls due.

Friday, Dec. 23: Potential first cabinet meeting of new Spanish government and approval of first economic measures, possibly including an emergency budget decree ahead of a formal 2012 budget.


Wednesday, Dec. 28: Italian T-bill, zero-coupon bond auction.

Thursday, Dec. 29: EUR5.23 billion of Greek debt falls due. Italian bond auction.

Friday, Dec. 30: EUR715 million of Greek debt falls due. First meeting of new Spanish PM's cabinet and first batch of emergency austerity measures expected.


Monday, Jan. 2: Euro zone December manufacturing PMI.

Wednesday, Jan. 4: Euro zone December services PMI.

Thursday, Jan. 12: ECB interest rate statement and press conference. Spain auctions new 3-year bond.


Monday, Jan. 23: Euro zone January flash PMI.

Wednesday, Jan. 25: Preliminary data on Spain's government annual budget deficit expected around this time. German January Ifo business climate index.

Tuesday, Jan. 31: Ireland's troika of lenders releases its latest quarterly review of the country's bailout. Greece aims to conclude talks detailing new EUR 130b loan deal, debt exchange program with private sector creditors by this date.