Eco Analysis - UK in or out? (B. Hilliard)
UK PM Cameron delivered his “Europe” speech in London and committed to holding a referendum on Britain's future in the EU if a Conservative government is re-elected in May 2015. The issue is thus set to remain theoretical for a while, but uncertainty can have a negative impact on investment flows into UK in the meantime. On the data side in Europe, French industrial confidence surprised on the downside in January as internal and external demand ebbed. Hence, in contrast with the German Zew survey, hopes that the improved market sentiment paves the way for more positive hard data in the euro area will be disappointed (at least in France in the short term).
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