This morning the EMU finds itself in broadly the same situation as yesterday. The ECB can ensure indebted member states remain liquid by providing unlimited loans, but a long term solution remains evasive.

Newly released UK industrial production figures for October have failed to meet foreign exchange market expectations.

The Irish parliament is set to vote whether the planned austerity budget (including €4000 in extra taxes per household) will pass.

currency exchange, foreign currency, foreign currency exchange, foreign exchange

The foreign currency exchange markets have been rocked ahead of a meeting between EU and IMF officials to decide whether the EMU bailout fund needs expanding.

This week investors are hopeful that EMU officials will announce a permanent solution to the continuing bond crisis.

currency exchange, foreign currency, foreign currency exchange, foreign exchange, money transfer

The important news yesterday was ECB President Jean-Claude Trichet´s announcement that the ECB would provide unlimited loans to EMU member states until the end of Q1 2011.

This is important because it enables indebted EU nations such as Portugal and Spain to remain solvent for the moment. In the event that bond spreads

This afternoon the President of the European Central Bank Jean-Claude Trichet has told journalists that he intends to offer unlimited loans to members of the EMU until the end of Q1 2011.

This morning the Chartered Institute of Purchase and Supply has released the latest UK construction PMI figures, and they reveal that industry activity and business optimism have increased in the British construction sector.