Aug. 31 - As the summer lull fades into the background, Europe's leaders are coming under renewed pressure to find a way out of the debt crisis.
As the summer lull recedes into the background the pressure is back on Europe's leaders to make a significant breakthrough in the debt crisis. With the US preoccupied by the presidential election attention on this side of the Atlantic. Send us firmly on the French side. Welcome swallowed half the week ahead to the ECB president -- -- you'll be in the spotlight as never before next does -- when the governing council meets to sign on policy -- -- ignited market expectations last month. By saying he'll do whatever it takes to protect the Euro. When outcomes at times to live -- ECB go beyond a fresh program of government bond buying unlikely says Christian -- abandoned bank. Big key question is. Is it just going to be that this has spread cap type of intervention. -- to stop the market panic or are they also going to. David alleviate monetary policy cut rates do more its heroes that sort of thing. So we would not expect any rate cuts soil as generals -- in the short term we would expect them to try. Two make the policy work rather than make it even looser than it already is. Shuttle diplomacy will again be the -- of the day as Europe's politicians look for a way out for the crisis. The German chancellor seen here with Italy's Mario Monti will be in Madrid for talks with the Spanish prime minister. On the same day the ECB is reaching -- general Hawley says Spain. One toss this over and help until ECB policy is today or so first they Spain will test the market sentiment when it's thrust -- auction for a month. Ben Bernanke in Jackson Hole giving markets some of what they expected the Fed Chairman says the -- -- will provide extra policy accommodation is required. Bernanke also insists the Fed must not -- signs of daunting economic challenges facing the US. And he maintains the first two rounds of Q we added an 83% to US output and lifted employment by two million jobs. Economic data will be dominated by US nonfarm payrolls out fright day. Economists polled by Reuters expect -- gain of 135000. New jobs and the unemployment race full cost to its -- ten point 2%. As November's presidential election approaches -- actually of obviously capital markets is the big picture outlook is deteriorating. US. We think the GDP in their course will be when he won't would want to send the -- fool. These -- even we can -- probably it's of 1% reading. And and then last fiscal -- -- -- it is dressed then I think getting -- perfectly possible that we can get some negative GDP reading something the US economy is -- where. A serious pro prolonged slowdown of the moment. -- Otis can finally Tokyo commodity trading -- course 31 billion dollar bid for mining giant X -- Cats are holding which has built a 12% stake in Xstrata says -- vote against the deal next Friday unless going -- increases its offer up. Airlines are we making headlines in the absence of any big company earnings figures at Berlin and easy jet will be giving traffic updates because they. Followed by at Frans can -- access and feel narrow on Friday. The passenger numbers -- likely to reflect the tough conditions in the aviation market. That is all from us now join us throughout the week for -- as the best snapshot of the latest world news. And mocking headlines that's at 8 AM London time -- problems is gorgeous and.