Strong U.S. employment report brightens economic outlook

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Provided the strength in jobs is confirmed with other economic data, the Fed will have sufficient reason to hike (rates) this year," said Michelle Meyer, a senior economist at Bank of America Merrill Lynch in New York. "The July jobs report was everything you could have asked for and more.

A whole lot of new construction was undertaken during the Olympics campaign, which subsequently became the selling ground for the Greek real estate. From what we understand about today's Grecian real estate, it is hard to buy a low-cost single family house in Athens, where the demand to supply ratio for such units is much higher compared to the other regions of the country. Both events proved crucial in helping out the Greek tourism and its real estate market to resurrect themselves in the eyes of the global community.

Amid the cooling of ties with the West, Erdogan is due to meet Russian President Vladimir Putin on Tuesday in St Petersburg for talks intended to end a period of tension after Turkey downed a Russian fighter jet near the Syrian border last November.

In addition, 18,000 more jobs were created in May and June than previously reported. Nonfarm payrolls rose by 255,000 jobs after an upwardly revised 292,000 surge in June, with hiring broadly based across the sectors of the economy, the Labor Department said on Friday.

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