July 11 - Some of the pressures in the euro zone subside with Spanish 10-year yields below 7% and Italian under 6%. Rome sells €7.5 bln in bills on Thursday
Spain's latest austerity package is treated with fury at home but gets a cautious welcome from the markets. Possibly the spending cuts and new taxis. Aims to bring down the country's budget deficit by 65 billion euros over the next two years. Prime minister Mariano -- says the measures aren't pleasant but -- vital to Spain is to recover its competitive edge. -- -- -- I say that would decrease tax but I'm increasing chance that I haven't changed the criteria. I will reduce them when it's possible created the circumstances have changed. And I need to adapt to them. Europe's politicians have been heavily criticized by the crisis to being reactive rather than proactive. Markets often applaud initiatives announced that summits before reversing direction once it becomes clear a little as actually being achieves. But will hold a Buckley says the most recent gathering in Brussels last month may mark a real step change. It's starting to seem like the politicians are starting to get a handle on what needs to be done and I started to make steps in the right direction to doing them the idea that folks in the banks and I was very very important. The idea of a common single bank regulator is sunny and I think a massive step in the right direction. Some of the pressures within the eurozone subsiding this week with Spanish ten year yields below 7%. And that's silly on the sixth. Looking ahead -- normal text investors' appetite on Thursday with an auction of seven and a half billion euros and short time bill's. And there's little -- expected an economic dates up eurozone industrial production is forecast to fall by an annual rate of 3.3 percent and me. The slumping Spain and Italy will be reflected in a sharp fall in sales that Europe's biggest retailer California which updates analysts on Thursday. The frank supermarket -- new CEO may also be forced to end weeks of speculation by issuing a profit warning. For the first half of the yet. Finally the Bank of Japan is likely to extend its -- ultra easy monetary policy. So -- has a wonderful once again and have been in phone exchange markets at the end strong gains stuff to threaten Japan's economic recovery. Us all from us another -- there's more from inside and out Reuters dot com and do join us each weekday morning from Reuters today. I snapshots of the leads us world news market headlines and social media buzz. I'm -- to give up this is Reuters.