A Saturday by WikiLeaks published transcript of an internal IMF conference shows that the IMF intends to step out of the third bailout for Greece. In the teleconference, which took place on March 19 between 3 IMF officials, was discussed what tactics should be used to arrive a deal in April. The position of the IMF is not new. What makes the leak particularly uncomfortable is that the IMF representatives suggests that a new near-bankruptcy of Greece is required to get everyone on the same page.
The average hourly labor costs for Dutch employees is with EUR 34.10 16% higher than the average in the Eurozone, Eurostat reported last Friday. The average hourly rate in the Eurozone stood at EUR 29.50 last year. With an increase of 0.5% from a year earlier, The Netherlands lags behind the rest of the Eurozone where labor costs increased on average by 1.5%. The differences between countries in the European Union are significant. Labor costs are the highest in Denmark with EUR 41.30 and the lowest in Bulgaria with EUR 4.10.
The coverage ratio of pension funds in the Netherlands has improved in March. The average coverage ratio rose from 94% to 96%. Some large funds fell below the critical 90% threshold in February. If the situation of these funds has not improved by the end of the year, the pensions have to be reduced in 2017.
The 6M Euribor remained unchanged at -0.13%. The 10Y Swap decreased with 3 basispoints at 0.52%.
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