Euro-zone countries began to use euro for cash payments. The 50 billion coins and 15 billion banknotes will replace national currencies for the 300 million residents of the euro countries in next several weeks.
The M2, measure of money supply, expanded 12.4%, y-o-y, in November from a year earlier, after 11.8% growth in October. Client deposits rose by 9.6%, a volume of credit fell by 17.7% in November.
Electricity prices for households increased by 9.9% this year. However, Pavel Brychta, a chairman of the Energy regulation office, said that there would be a room for a downward shift of electricity prices after opening of the electricity market. As for gas prices, he expects a reduction resulting from declining oil prices.
A loss of Ceske drahy, a Czech railway company, stemming from personal transport services will be covered by the state budget. This way of financing personal railway transport is a part of new law about railways.
U.S. economy can revive sooner than expected due to an improving consumer confidence. The Conference Board's index of consumer attitudes toward the economy increased to 93.7 in December from 84.9 in November, as home sales surged, layoffs slowed, and orders for many durable goods rose.
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