Spanish Services PMI (Jan) 46.1 vs. 43.0 expected (42.1 prior).
IMF’s Shinohara says talks on boosting IMF firepower need to proceed at the same time as talks to boost Eurozone firewall.
Irish Central Bank cuts 2011 GDP growth to 0.8% from 1.0%.
- Sees 2013 GDP increasing to 2.1%.
- Cuts 2012 GDP forecast to 0.5% from 1.2%.
Merkel says China says that Europe must do its homeowrk first on the Eurozone crisis, then ready to work for a stable Euro.
Euro rises after China’s Premier Wen says China is considering greater involvement in the EFSF and ESM stabilization funds.
OECD’s Gurria
- ECB should buy more bonds.
- Portuguese program “a more traditional workout”.
- Eurozone must tackle short term ills first.
- ECB could contribute to cutting Greek debt stock.


