Equity

The return on Argentine international markets after 15 years of "forced exile" was a success. Buenos Aires has placed on the bond market, resulting in $ 15 billion of loans with offers that have exceeded 65 billion dollars.
Argentina does not issued government bonds since the public finances in 2001 did collapse, triggering a default 100 billion of debt. In an environment of low interest rates and the search for yield on Argentina’s debt it has obviously attracted the attention, it being possible to provide a return to attractive investment for many investors, even institutional.

Severe judgment by the European Court of Auditors concerning the work of the EU Commission: lack of rigor and consistency in the practical application of the excessive deficit procedure, in particular as regards the monitoring of structural reforms, focusing more on the legal aspects than on ‘ effective implementation of reforms.

The reference is to the EDF procedure (excessive deficit procedure) governing compliance with the rules on deficits and debt of EU countries.

Governed by Article 126 of the Stability Pact, the procedure provides for the satisfaction of a dual criteria – deficit and debt of EU countries must not be greater than 3% and 60% of gross domestic product. Otherwise, the ‘corrective arm’ of the fixed repayment terms precise procedure for the correction of the public finances.

The Brazilian Chamber of Deputies approved, at the end of a marathon began Friday, the opening of an impeachment proceeding against leftist President Dilma Rousseff, whose term expires in 2018. The majority in favor of impeachment against Dilma eventually overwhelming, beyond the worst predictions: 367 yes, 137 no, 7 abstentions.

The House vote, after three days and nights of debate, states the beginning of removal of Dilma Rousseff from the Planalto Palace in Brasilia that will now have to be confirmed by the Senate. If even approve senators, in their case by a simple majority, the President will be suspended for 180 days. At the end of this period, a new Senate vote, and then the Supreme Court will have to confirm or deny his dismissal. Meanwhile, his deputy, Michel Temer, will take power and form a new government. It’s ‘a turning point gained in the Brazilian lost the last months of scandals of corruption, severe economic recession and emergency Zika.

The growth of the German GDP has proceeded at a fast pace in the first three months of the year, thanks mainly to the positive trend in domestic demand which offset the weakness of exports. For the next quarter, which ends in late June to see economic expansion slowing.

This was stated by the Bundesbank in the April newsletter, explaining that the German economy has benefited in the first quarter from the good weather conditions that favored the construction industry, while consumption benefited from the favorable situation on the labor market and low inflation . The contribution from exports was however not very high.

Finance ministers of the European Union will discuss next week put limits on exposure that banks have to sovereign debt, according to an EU document.

The EU countries have debated for months whether they review the status enjoyed by public debt used to finance the states, but during the financial crisis of the eurozone joined a "vicious circle" of dependence between states and banks. Sovereign bonds are considered risk-free and are exempt from the limits that banks have over other types of corporate or personal debt. EU countries have been cautious about their treatment for fear of affecting markets and financial stability of the institutions.

Jose Manuel Soria, Minister of Industry of the Spanish Government, has resigned after his name was in fact associated with an offshore company of those that have been mentioned in 11.5 million revealed to the press documents from an inside mole to law firm Mossack Fonseca. The name of Soria appears in top secret list.

"I sent my irrevocable decision to resign," he wrote the minister, "in view of the obvious damage that this situation due to the Government and People’s Party" by Mariano Rajoy.
He previously served as Prime Minister of Iceland to have left office a few days after the scandal broke.

Barclays, the second largest bank in the United Kingdom, will leave the Italian credit market within two years and is ready to relinquish the portfolio of loans (performing and non), amounting to 15 billion dollars (13 billion euro). After leaving now Spain and Portugal, the choice to leave the Italian consumer market is consistent with the strategy to focus on investment and corporate banking sector and reposition itself on the US and British markets.

Jon von Tetzchne, Internet browser Vivaldi’s founder, launched last week, said in a Reuters interview that the target is to attract five million monthly users to become profitable.

The development of Vivaldi lasted 15, with a cost aroud 50 million crowns norwegian ($6.07 million) of his own money. Intentions of Oslo based company’boss is to achieve users from the most popular browser as Google Chrome, Internet Explorer, Firefox, Safari and Opera. "A few years ago everyone started simplifying their browsers and they removed many of the features that the so-called power users wanted. This is the segment we are targeting", he said.