The summer rally that had lasted for more than a month on the leading global platforms ended last week. According to results of the previous week, the American S&P Index lost 0.5%, while the British FTSE Index fell 1.3%. Investor confidence was shaken by influence of statistical data from the US, which turned out to be mostly, for the most part, weaker than expected and political decisions related to the situation the Eurozone economy.

On Monday, 20 August, the Bundesbank, the German Federal Bank, once again voiced its critical evaluation of proposals to engage in direct redemption of government bonds offered by the region’s struggling countries. In the opinion of Germany’s monetary regulator, redemption of government bonds would create serious stability risks. On Wednesday, markets alarms grew in connection with a statement by Prime Minister of Greece Antonis Samaras asking European leaders to give his country more time to carry out reforms that are needed to meet the crisis. Although during the previous week European Union leaders confirmed their willingness to keep Greece in the Eurozone, they made it clear that the decision to help Greece would not be taken sooner than September, when there are conclusions of the rescue mission – the European Commission, the European Central Bank and the International Monetary Fund – regarding the situation in the country’s finances and measures that are being implemented to fight the crisis.

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