Euro has started the week on a mixed note, as the chances of securing a deal look uncertain. This week will be crucial, as talks are set to intensify and the EU convenes for a summit this Thursday and Friday.
Meanwhile, politicking over the proposed eurozone budget has hit a roadblock, as the Netherlands and Ireland joined with non-eurozone countries Denmark and Sweden to push back against plans laid out by France. The result is that the proposed budget is much smaller than President Macron had originally envisaged, at just around €17 billion over seven years.
This week, we will see a number of important releases, including European industrial production and balance of trade, German economic sentiment and Italian construction output.
