EUROPEAN UNION:

January 23 - Eurogroup meeting of euro zone finance ministers.

January 23 - Foreign affairs/general affairs council meeting of ministers.

January 24 - Ecofin meeting of European Union finance ministers.

January 30 - Summit of EU heads of state and government in Brussels.

February 20 - Eurogroup meeting of euro zone finance ministers.

February 21 - Ecofin meeting of European Union finance ministers.

March 1-2 - Summit of EU heads of state and government in Brussels.

March 12 - Eurogroup meeting of euro zone finance ministers.

March 13 - Ecofin meeting of European Union finance ministers.

March 30/31 - Informal meeting of European Union finance ministers in Copenhagen.

April 23/24 - Foreign affairs/general affairs council meeting of ministers.

May 25 - Summit of EU heads of state and government in Brussels.

GREECE:

POLITICS:

-- Talks between Greece and its creditors on a bond swap scheme, dubbed private sector involvement (PSI), have entered the final stretch. A deal must be clinched by next week to ensure there is enough time for the debt exchange to be wrapped up and funding by international lenders to be in place before a 14.5 billion euro government bond matures on March 20.

-- IMF and EU inspectors in Athens continue high stake talks to flesh out a new bailout program that Greece needs to avert default. They will assess progress on reforms and reducing deficits versus targets set in a bailout program and whether a deal with private bondholders to cut the nation's debt burden will render it sustainable in the long term before freeing up further lending.

GOVERNMENT DEBT SUPPLY:

-- Athens is expected to continue monthly auctions of 3- and 6-month T-bills in February as it needs to refinance a total of 2.6 billion euros of maturing bills. Monthly T-bill sales are Greece's sole source of market funding.

-- January 19 - Debt agency accepts additional non-competitive bids in 3-month T-bill auction.

-- February 7 - Auction of 6-month T-bills.

-- February 14 - Auction of 3-month T-bills.

DATA:

-- January 20 - November current account balance y/y.

-- January 27 - December producer price inflation y/y.

-- January 31 - November retail sales y/y.

ITALY:

-- Prime Minister Mario Monti is finalizing measures to deregulate services ranging from taxi drivers and pharmacists to lawyers and notaries. The plans have sparked opposition and strikes from taxi drivers and other protests are planned.

-- The deregulation plans follow an austerity program which includes the reintroduction of a housing tax, pension reform and spending cuts criticized by unions who say they spare the rich and are too tough on salaried workers, pensioners and vulnerable sections of society.

-- Two relatively successful bond auctions brought Italy's 10-year bond yields below the psychologically important 7 percent mark and they are now hovering around 6.4 percent.

POLITICS:

-- Monti is heading to an EU finance ministers meeting on January 23 and a leaders' summit at the end of the month.

DEBT ISSUES:

January 24 - Treasury announces zero coupon CTZs and euro inflation-linked BTPs to be auctioned on January 26 and amounts of short-term bills (BOTs) to be auctioned on January 27.

January 25 - Treasury announces amounts of medium to long term debt it plans to auction on January 30.

January 26 - Auction of CTZs and BTPeis.

January 27 - Auction of BOTs.

GERMANY:

POLITICS

-- January 23 - Chancellor Angela Merkel to speak at an event in Berlin to mark 10 years of the euro currency.

ECONOMY:

-- January 24 - Flash PMI indicator

-- January 25 - Ifo business climate index

-- January 26 - GfK consumer sentiment index

DEBT:

-- January 23 - new 12 month Bubill

-- January 25 - 30-year Bund top-up

SPAIN:

REFORM:

-- PM Rajoy has said he intends to deepen a constitutional reform, which sets a debt break and deficit limits for the central government and autonomous regions and was passed by the PP and the Socialists last September, as one of his first tasks as Prime Minister. Expected by mid-February

-- Labor market and financial sector reforms are also expected to be high on the agenda. Expected by mid-February

DATA RELEASES:

January 27 - Q4 unemployment figure.

January 27 - Retail sales December

January 30 - GDP Flash Q4.

January 31 - Inflation flash January

February 2 - January Jobless data.

DEBT ISSUES:

January 24 - 3-, 6-month T-bills.

IRELAND:

-- Ireland, as of December 2011, had drawn down just 34.5 billion of the 67.5 billion euros in loans it is taking from the EU and the IMF as part of its three-year 85 billion euro bailout package agreed in November 2010.

-- Officials from the ECB, European Commission and IMF completed the latest quarterly review of Ireland's bailout on January 19 and said Dublin was meeting all its targets.

-- Dublin has recapitalized the country's four remaining lenders to meet its target under the EU/IMF bailout. It has poured nearly 17 billion euros of state funds into its four remaining lenders, bringing the total amount of capital provided by the government to nearly 63 billion euros.

GOALS TO BE MET UNDER EU/IMF PACKAGE:

End Q1 2012 - Government will introduce a fiscal responsibility bill, including provisions for fiscal rules and the Fiscal Advisory Council.

End Q1 2012 - Government to introduce legislation to reform the personal debt regime in order to lower the cost and increase the speed of proceedings.

November 2012 - Results of fresh bank stress tests to be published.

DATA DUE FOR RELEASE:

January 24 - Residential Property Price Index December

January 25 - Trade Statistics September

January 27 - Retail Sales Index December 2011

PORTUGAL:

-- Portugal, bailed out to the tune of 78 billion euros, said it met its 2011 budget deficit target agreed with its lenders using extraordinary, one-off measures and expects to meet the 2012 goal after deepening its austerity drive.

-- The troika of lenders said last November it was satisfied with Portugal's performance under the bailout, but told it to avoid relying on one-off measures in the future and to deliver on structural reforms.

-- Portugal's economy is expected to contract a steep 3 percent this year after an estimated GDP drop of 1.6 percent in 2011 as the government enacts tough spending cuts and across-the-board tax hikes.

POLITICS:

January 19-21 - Informal discussions involving Portuguese government officials, representatives of the troika of lenders, and business leaders about structural reforms to be implemented under the bailout.

January 20 - Prime Minister Pedro Passos Coelho takes part in parliament debate.

February 3 - Prime Minister Pedro Passos Coelho takes part in parliament debate.

February 11 - Nationwide rallies against austerity, labor market reforms, organized by CGTP union.

February (no dates set yet) - European Commission, European Central Bank and International Monetary Fund inspectors to assess Portugal's performance under the bailout.

GOVERNMENT DEBT SUPPLY:

February 1 - IGCP debt agency offers between 750 million euros and 1 billion euros in 3-month T-bills.

February 15 - IGCP debt agency offers between 1.5 billion euros and 1.75 billion euros total in 3-month and 6-month T-bills.

March 21 - IGCP debt agency offers between 750 million euros and 1 billion euros total in 4-month and 6-month T-bills.

Source: Reuters bureaux

(Reporting by David Cutler, London Editorial Reference Unit;)