The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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German July Ifo index falls to 103.3

FRANKFURT (MarketWatch)
The Ifo Institute on Wednesday said its German business climate index fell more than expected to 103.3 in July from 105.2 the previous month
Economists surveyed by Dow Jones Newswires had forecast a reading of 104.5
"The euro crisis is having an increasingly negative impact on the German economy," said Ifo Institute President Hans-Werner Sinn
The expectations index, which measures participants' outlook for the upcoming six months, fell to 95.6 from 97.2, while the current-conditions index fell to 111.6 from 113.9
The index is based on around 7,000 monthly responses from firms in Germany's manufacturing, construction, wholesale and retail sectors.

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