The emergency fuel continues to rise in France, while approaching the meeting with the European Football Championship, which will put the transalpine country in the spotlight for a month.
Thirty per cent of the country’s distributors have remained dry and the protest against the labor market reform continues unabated while for the first time Prime Minister Valls has indicated its openness to change the text.
White smoke for aid to Greece after a long negotiation that lasted 11 hours: Prime Minister Alexis Tsipras has got not only aid but also the green light to debt restructuring.
The International Monetary Fund (IMF), to break the deadlock, has explicitly demanded to the Eurogroup a serious and concrete commitment on debt relief before getting involved in the third assistance program. The Eurogroup has put pen to paper this commitment while the IMF, later this year, will ask its board to contribute to the plan.
New worsening signals from the German economy, after the climb recorded in April The ZEW index, a leading indicator of economic sentiment in the coming months, collapsed to 6.4 points from 11.2 points in April, when he was in recovery.
"The strong growth of the German economy in the first quarter of 2016 seems to have surprised financial market experts. However, investors do not seem to expect that the economic situation will improve at the same pace," said Professor Achim Wambach, President ZEW Institute who added: "the uncertainty about a possible Brexit by the United Kingdom as we approach the referendum that could lead to the exit of Britain by the European Union, preventing a more optimistic view."
The Parliament in Athens approved a new package of austerity measures demanded by international lenders in return for a new tranche of aid before the Eurogroup meeting to be held Tuesday. In the specific case 152 Greek MPs approved a VAT increase, new direct taxes and measures to accelerate privatization. The new measures also provide for an automatic correction mechanism of the accounts should be rejected if the goal of bringing the primary surplus at 3.5% in 2018.
"The Greeks have assumed their responsibilities. Tomorrow also the counterparty will have to do the same," he said confident the Greek prime minister, Alexis Tsipras, after the vote in Parliament.
Fighting poverty in China over the next five years: the Agricultural Development Bank of China (Agricultural Development Bank of China, ADBC) plans to allocate 3 trillion yuan (about 460 billion US dollars) to fight poverty among the Chinese population, reports state newspaper "People’s Daily."
Also according to the newspaper, by 2020, the Chinese leadership has set a goal to get out of poverty 70 million people. At the end of 2014, 70 million and 170 thousand Chinese residents in rural areas were living below the poverty line while the their annual income amounted to $ 376.
The newspaper said some of the funds will be used for transfer to other areas of the population, to support programs to tourism and education, for assistance to farmers and the construction of infrastructure in rural areas, which should help reduce poverty of the population.
The agency Standard & Poor’s confirmed the triple "A" for the debt of Switzerland. In a note, they are praised the capabilities of the Swiss economy, called "competitive and diversified". Confidence by the American Society of rating, is also expressed with regard to the Swiss National Bank, after about a year and a half after the decision to abolish the minimum exchange rate between euro and franc.
Fear for Brexit widens the employment world. After the spectrum to the recession of the past few days, the Chancellor of the Exchequer, George Osborne, has been focusing on the world of work: in fact, according to the report issued by its Ministry of the Treasury, the exit of Britain from the EU could cost 820 thousand jobs in two years, following the sharp slowdown of the economy.
In an interview with the Italian newspaper "La Stampa", Sergio Ermotti, UBS CEO, expressed his view on the ECB’s monetary policy: "Bringing interest rates so low it was a duty, you had to try. but today, while the European central Bank continues with its expansive monetary policy, governments do not make the necessary reforms. So insist in the same direction is a kind of aggressive treatment ".
Regarding a possible return to Unicredit to succeed Federico Ghizzoni, Ermotti was very clear: "I have a very nice memory of Unicredit, but I must say that I am very happy where I am today."
