As we enter yet another month of doom and gloom across the Eurozone, October delivers several dates for the diary that investors and those with overseas property interests should be aware of. With America keen to see euro currency zone leaders come to a decision about their ailing currency, market traders and owners of investment property will be looking for a quick resolution to the current instability.
October the 4th:
The European Central Bank has a few away days. The Governing Council meets twice a year and for October they are meeting just outside Frankfurt with a follow up date in Ljubljana, Slovenia.
Mario Draghi ECB President has detailed plans to buy up government bonds on an unprecedented scale with the euro zone's rescue funds. Any country in question must first ask for help from the emergency pot of funds. Decisions made by member states in respect of donor funds will mean that they must also agree to follow a set of austerity rules and policy conditions that their respective voters may not be keen to adopt.
October the 8th: Eurozone country finance ministers will have a meeting on the 8th closely followed by all EU member states finance ministers joining the discussions on the 9th.
There is mounting speculation that this meeting will herald an announcement from the Spanish Prime Minister, Mariano Rajoy, that will see him admit that Spain is in need of a huge injection of funds from other Euro member states and ask for a full bailout package before this meeting, thereby giving ministers the ability to formulate an official response to the request.
October the 18th :
The European leaders summit takes place. Will Spain be top of the agenda?
October the 21st :
Local elections are kicking off in the Basque country and Galicia regions of Spain. The Prime Minister might wait to see the outcome of these polls before making any major announcements.
So October looks like the month when one of Europe's 5th largest economies may ask for formal help. What will November's dates look like?