MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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SPD Co-Leader-2024 Budget Deal Possible This Week

GERMANY

The co-leader of the governing centre-left Social Democrats (SPD) Saskia Esken stated on 11 Dec that in talks regarding the 2024 federal budget "We have made significant progress", and said to broadcaster ZDF that, "Something will happen now". The tripartite 'traffic light' coalition has engaged in difficult budget talks in recent weeks after a Constitutional Court ruling blew a hole in the state's finances.

  • Major disagreements remain over the imposition of the constitutional debt brake (which restricts the deficit to 0.35% of GDP) in 2024. Finance Minister Christian Lindner from the pro-business liberal Free Democrats (FDP) wants it re-imposed after four years of non-application, while Economy Minister Robert Habeck from the environmentalist Greens has called for the brake's suspension for the fifth year in succession.
  • Speaking to Deutschlandfunk Radio, FDP leader in the Bundestag, Christian Duerr, claimed that the EUR17bn gap Lindner foresees in the 2024 budget "is managable", but that cost-cutting measures would be required.
  • Talks continue today between the coalition members.
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