The day has started with the notice that consumer sales fell 1.4% for Germany, serving as an indicator to further complications in
Europe. Yesterday, we have witnessed initiation of the new European Stability Mechanism, which is a set of austerity measures to help
with the sovereign debt crisis. Nevertheless, we are still surprised that while the main focus is the repayment of loans received, there
are no discussions regarding the control over the use of these loans and possible implementation of such control at this stage. We are
still monitoring the development of EU situation as it unfolds.
 

UAIndex