24 hours of economics in 240 words! An economic snapshot number 11

For December 30th

0:39 a.m.  Economists have predicted a return to the recession for Europe estimating the likelihood of a Eurozone breakup at 30%-40%

3:28 a.m.  South Koreas inflation rate has stayed above the target of 4% with consumer prices rising 4.2%.

5:20 a.m.  Japan has delayed its sales tax increase, form 5% to 8%, as opposition increases.

11:30 a.m. Nationwide has predicted the house price stagnation to continue with house value falling 0.2% in December.

2011 hasn't been a great year for the Stock Markets

11:57 a.m. Newbury flood defences are to be scrapped unless the £1.5million is collected, the project still needing £89,000 to be pledged.

0:33 p.m.  Hungary has passed a controversial central bank law causing the EU and IMF to cut their aid talks, where Hungary was seeking 15020billion euros.

1:14 a.m. Hawkin’s Bazaar has gone into administration despite earning a reported £60million in turnover. The Tobar group employs 380 people.

2:09 p.m.  Former WWII prisoner of War camp is to be repaired for £500,000.

3:23 p.m.  Spain has outlined 8.9billion euros in its new austerity measures, involving spending cuts and tax rises.

7:27 p.m.  The Euro was valued nearing the end of this year $1.2960 after it reached it’s 15-month low of $1.2858 falling below the Yen for the first time in ten years!

9:29 p.m.   The UK stock market, The FTSE 100, ended the year 5.6% down from where it was this time last year. France and Germany too saw falls up to 18%.