ECB Resistance, Mini Trade Deal, Denmark Backlash: Eco Day

(Bloomberg) --

Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to take you into the weekend:

• European Central Bank governors representing the core of the euro-area economy resisted President Mario Draghi’s ultimately successful bid to restart quantitative easing, according to officials; such a divided ECB puts governments under renewed pressure to step up with fiscal policy
• Trump administration officials have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs, people familiar with the matter say
• Meantime, China wants to boost purchases of pork from overseas, including the U.S. and European Union, according to people with knowledge of the plans
• Bankers in Denmark are starting to get desperate after the central bank cut its main interest rate to a crisis low of minus 0.75%, with economists predicting more to come
• Following a jumbo rate cut, Turkey’s new central banker is striking a balance that could keep both the president and markets at bay
• Investors are hailing Greece’s plan for the early repayment of 3 billion euros in bailout funds as one of the strongest signs yet of its recovery from the economic devastation of the financial crisis
• The power of consumers is becoming the last best hope for emerging market investors as global recession risks rise. But even that’s starting to crack

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