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Monti and Merkel Face Off

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    Michael Hewson, CMC Markets senior market analyst, on the ECB and G7 Summit.

  • Duration 2:12
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Bet Paula do want to say hi European markets are trading right now lot of news coming out in Europe today.

As you can see the -- the cac forty in the -- all of these major indices are trading to the downside.

This morning for more on those European markets let's go live to London right now.

We we are joined by CMC markets senior market analyst Michael -- and Michael good morning.

You will it to colony we -- talking noise super earlier about this big meeting between on the Lamar -- And Mario Monti at what are you expecting out of this today.

Well I think what -- I -- months he will be looking to impress upon Angela Merkel.

Is -- -- -- -- that.

You know she -- think obviously on this thing to drop its opposition.

To -- simply taking steps to -- Italian and Spanish borrowing costs -- -- think.

Therein lies the concern full -- explained in -- the mean of the unsustainable levels of -- long term borrowing costs nothing about openly.

Really the -- done.

All the conversation nothing Watson Mario Monti has to understand is that PCPs already stretching the limits of its man die at the moment.

-- and done the German constitutional -- -- the September could still throw a spanner in the works in the longer term.

All right let's talk about some other issues that are obviously affecting Europe right now we're looking for another read on our GDP.

Here in the United States today at the same time growth in Europe continues to slow even.

The German Economy.

Has been affected what is your economic forecast looking like for the next six months or so.

I can summon up from one word Cheryl -- -- Nothing nothing in other problems.

I think the problems in Europe -- up pretty pretty you know that the pretty its announcement of -- -- Because of the unfocused -- austerity measures to the exclusion of everything else and I think that's really why you go north and south pulling against each other of mine.

All right well obviously we're -- to be looking at a lot of things that are coming out of Europe and certainly we hope that.

Mr.

-- -- -- Republican agree on a few things in and maybe move via conversations -- sold sold that.

In Italy and Spain don't give more trouble alright like a big you very much.

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