According to the October forecast of the World Bank, as a result in 2012 the world economy will grow by 2.3%, while in June it was assumed that the growth will be 2.5%. For the countries of East Asia, they control the world predicts growth this year of 7.2% (for comparison, in 2011 the region's economy has added 8.3%). The June estimate for Asian bank was 7.6%, but it has now become clear that such a measure should not wait.
Analysts from «FOREX MMCIS group» note that on Tuesday the euro together with the dollar rose to 1.2992.Increase is due to the announcement of the launch of a permanent European Stabilization Mechanism (ESM), and optimistic expectations with regard to the two-day meeting of the Eurogroup. It is assumed that at the meeting, which takes place in preparation for the EU summit will focus on the provision of financial aid to Greece and Spain, and the results of the meeting, likely to be made important statements.
With regard to the stabilization fund, the idea of its creation in the European Union was born two years ago.According to the authors of the project, ESM will lend to troubled countries in exchange for structural reforms and tighter fiscal policy. Today, the fund of 200 billion euros, but after a year and a half he has to reach 500 billion euros. The fourth part of the commitment to fill the ESM is to Germany. Followed by France, Spain, Italy, the Netherlands and other countries in the eurozone.
The European stabilization mechanism has both supporters and opponents. Among the latter - many opposition European politicians. They fear that the ESM will allow less cautious about spending and the budget will be a mechanism by which you can transfer funds from one country to another. For supporters of the fund include the international rating agency Fitch, which on the eve of ESM assigned the highest rating of "AAA" with a stable outlook.