The deficit in trade between the EU-27 and the rest of the world reached 105.5 billion in 2009, while a year earlier – in 2008 amounted to 258.4 billion, showing a pre-data statistical office Eurostat. As regards the euro zone trade balance was positive amounting to 22.3 billion euros, against a deficit of 54.7 billion for 2008. In December 2009 the EU has 2,5 Bn deficit in trade with third countries. Over the same period last year there was a decline in the deficit from 8,8 billion. The previous November, the trade balance was again negative, amounting to 6,8 billion euros, 24.4 billion compared to November 2008. Eurostat data for the period January – November 2009 showed a significant reduction in the deficit in trade in energy resources – from 350.7 billion euros in 11 months of 2008 to 212.1 billion in 2009. Reduced surplus in trade in machinery and equipment (from 138.9 billion to 99 billion euros). As regards trade with chemical products, however, there is growth in the surplus with 5,4 billion euro to 74.1 billion euros in total.
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Italian Fiat automobile concern announced that for the third quarter of the year, sales revenue fell by 62 percent, and the reason for this is mostly a partnership with Chrysler Group, wrote in an online version of newspaper Wall Street Journal. The report of the company shows that its net profit in the third quarter fell nearly 19 times – up to 25 million, compared to 468 million EUR a year earlier. Revenue fell to 12 billion euro, 14.3 billion EUR a year ago at this time. “The company may reconsider the viability of investments made and planned, and even lead to their reduction,” he wrote in a message distributed to the media of concern. Because of this Fiat forecasts that revenue from sales by the end of the year will fall by another 1 billion EUR and losses of the Group will reach 5 billion EUR.
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On a business forum in Barcelona, European Commission President Jose Manuel Barroso predicted that the world will be the same after pass this economic crisis. Barroso said that Europe will start to come out of the crisis in 2010 He said the continent should be made much effort to overcome the serious situation. Barroso for most of Europe’s main concern is unemployment. This is the main drama of European society. Barroso added that the European Union will show flexibility in terms of limit of 3 percent of GDP, which must not pass the budget deficits of member states of the Union.
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The Eurozone consumer prices decreased on an annual basis for the first time in June, which coincides with the prediction of the European Central Bank (ECB) says Finance.news, quoted by Eurostat. Core inflation has also declined by 0.1 percent in June after an earlier yearly inflation in 16 states, adopted the euro, was 4 percent. Time of ETSBK said it expected strong fluctuations in raw material prices last year would lead to a decline in inflation on a monthly basis for several months before it becomes positive again at the end of this year. Reiterated several times that the short-term movements in inflation should not be taken into account in monetary policy. The Economists are of the opinion that the fall in prices will lead to a prolonged period of deflation. Prices of fuel and transport decreased by 18.8% yearly base and for heating fuel fell by 39.3 percent.
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The Gold reserves of the European Central Bank, including claims in gold (physical gold, such as bars, coins, ingots, and storing pieces of monetary gold, as balances on accounts with gold) decreased by EUR8.5 billion to EUR232.128 billion during the week ended July 3, according to today’s report of the financial institution. The change primarily reflects the quarterly revaluation adjustments and reserves and selling gold to EUR5.0 million from a central bank in the euro area, indicating the report of the ECB. Foreign exchange reserves showed a net decrease of EUR10.5 billion to EUR206.2 billion for that period. ECB reported an increase of money in circulation in 16 EU member states of the euro by EUR6.6 billion to EUR768.7 billion.
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The European Comitee will propose in Friday measures for regullating of the market of derivatives, increasing the fears of bankers in the Eurozone, that the sector may hurt seriously by this. After the latest USA financial tools were announced many of the analyzers claim that this may even make the crisis stronger.
The report of the comitee most probably will pay attention to similar proposes, just like those announced from the administration od Barak Obama, which signed changes in the regulation with the derivatives over the price of enegry resources and corporate crediting. Some bankers are affraid that the comitee may try to win some political points, with offering more restrictable changes. Another analyzers claim that the industry already is in need of more serious actions to decrease the market risks. The reports of European Cometee will not have the power of laws, but they can help in forming future practises for regulation of large dealers of directives.

The President of the European Central Bank Jean Claude Trichet said that current levels of interest are adequate and recent economic data confirms this. Trichet said the decision to preserve the basic interest rate was unanimous, but can not believe that 1 percent is the minimum of interest on refunds. According to him, the economic slowdown will reduce the pace in the second half of the year and next year is expected positive economic growth. Trichet said that inflation expectations remain very limited and monetary analysis show that the medium is a time price stability. In his negative rates of inflation will be short, for the next few months. He stressed that short-term movements in inflation are not taken into account when taking political decisions. President of the ECB believes that pressure on prices has weak economic activity, as though inflation is derived from the growth of money, there is a clear monetary expansion. According to him the negative inflation of consumer prices for June is in line with the expectations of the ECB, in the medium term is possible rise of oil and other energy. Trichet reported that a decline in short-term loans, but banks have already “moved” low interest rates to consumers. Therefore, he expected an improvement in conditions in the financial sector, but banks need to strengthen its capital base.
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