The President of the EP Martin Schulz interviewed on Italian radio, said he was not concerned about the hot topic of the June referendum in the United Kingdom.
Schultz stated that there is a two-speed, but rather "multi-speed Europe: there are those who want to enter and those who want to quit." This has provided a cushion to talk Brexit, but the number one assembly in Strasbourg showed more concern for issues pertaining Eurozone.
The currency reserves of the Swiss National Bank (SNB) rose in April by 1.9% compared to the previous month, the increase was of 11.1 billion Swiss francs for a total of 587.6 billion.
It indicates how much the institute of emissions in a statement on the official website. The revaluation is partly due to the stronger euro, spent over a month from 1.0910 to 1.0990 francs. The single currency is more than 40% of foreign exchange reserves of the SNB. The dollar, about a third of the total, has not however made significant movements.
Meeting at Palazzo Chigi between the Government and representatives of the metalworkers’ unions to take stock of the Alcoa dispute.
The Government has announced that within two weeks we will know the intentions of Glencore, the Swiss multinational in talks to detect the aluminum plant of the US group which is located in Sardinia.
Argentina is still in recession, despite the great strides made by the new government Macri to reactivate growth. According to Moody’s, GDP will contract by 1.5% this year, given the ongoing growth of unemployment and inflation that remains above 30%.
The agency provides that in Buenos Aires the new policy will not begin to have an effect before next year. The Moody’s report comes as a result of Argentina’s return on the capital market, after an absence of 15 years.
The ECB has decided to stop the production of the 500-euro note, if the issue will stop "around the end of 2018". This was announced by the central bank, talking about "concerns that this note could facilitate illegal activities." "The 500 euro banknote – the ECB precise – will always retain its value and can be exchanged at the Eurosystem central banks for an unlimited period of time."
The economic recovery in the eurozone continues, thanks to the support measures offered by the ECB, but foreign demand is weak confirms, following the persistence of the international crisis, and the restrictive budgetary policies of the member states act as a brake to the stimuli offered. It ”s the point of the monthly bulletin published by the Institute of Frankfurt.
According to the Eurotower, the increase in employment guaranteed by the structural reforms and the low price of oil will continue to support household income and thus private consumption. The labor market continues to offer signs of improvement, even if gradually, which led to a 0.3% dell’occupaizone growth in the last quarter of 2015 and a reduction in the unemployment rate to 10.3%.
The European Commission is preparing a review of the Dublin agreements on joint management of immigration by introducing a 250,000 euro fine for each refugee is not accepted by one of the EU member states, in relation to the due share. The news was revealed by the prestigious Financial Times: this would be an extreme measure to convince Poland, Hungary, Czech Republic, Slovakia and Austria to accept refugees, contrary to the address indicated by the respective governments.
In the auction of bonds today, Spain has placed three long-term government bonds with maturities for a total of over 2 billion euro, on the middle fork initially scheduled (1.5 – 2.5 billions). In detail the Iberian state has placed government bonds maturing in 2026 for a total amount of 489 million euro, compared to a demand of 2.0 12 billion.
The coverage ratio (ratio between the amount requested and offered quantity) was equal to 4.3, while the gross yield offered by bonds was set all’1,592%, an increase over the previous all’1,496% starting April for placement securities maturing in 10 years.
