Governatives

The Fed still leaves unchanged the interest rates between 0.25% and 0.50%. This decision leaves the door open to a possible rate hike in June. In the statement released Wednesday after the two-day meeting, the Federal Reserve made no reference to the risks posed by the global economic and financial developments, merely communicate that will monitor these developments. A change of language that analysts believe signaling a possible narrow in the coming weeks, at the latest within two months.

Berlin is opposed to the special summit called by Greece. The German Minister of Finance Wolfgang Schaeuble said that "the talks with Greece have not made much progress." He added: "When the conditions are met, the meeting will be convened." So the Athens Stock Exchange back in the eye after the Eurogroup reference that had to discuss aid to the greek country: the BS Ase index leaves on the ground 2.5%. And Nathan Sheets, deputy secretary of the US Treasury for international affairs – as reported by Bloomberg – argues that the IMF will provide funds to Greece only with reforms and with a debt relief.

In the first quarter of 2016 the US GDP grew at an annualized pace "only" 0.5%. It’s what emerges from the first reading of the data released by the US Commerce Department. The result is lower than the expectations of analysts who expected an improvement of 0.7% in the first three months of this year.

The economy of the United States, therefore, begins to slow down after the 1.4% achieved in the last quarter of 2015. The one recorded in the months January-March is the slower pace of expansion for two years.

The president of the Bundesbank, Jens Weidmann, in a speech to the German embassy in Italy, believes that a large risk-sharing between the Member eurozone without a strengthened common control mechanism "would be a wrong path" and would not create the " strong incentives to comply with the rules "that will see the Italian Economy Minister Pier Carlo Padoan.

"Since the creation of the monetary union the rules of the Stability and Growth Pact were violated by some states, including even Italy, more often than they have been" osservate.Weidmann also recalled that "even Germany in the years 2003/2004, he has helped weaken the binding force of the rules. "

With the ratification, Switzerland joined the Asian Investment Bank for infrastructure (AIIB). The Swiss government will from now on participate in the Board of Governors and to sit on the Board of Directors of the Bank and early participation in the institute’s founding process.

Switzerland is the 37th country to have formalized the all’AIIB membership along with China, India and Russia as a major shareholder. Of non-regional countries have so far ratified the accession of Austria, Denmark, Finland, Germany, Iceland, Israel, Luxembourg, Malta, Norway, the Netherlands and the United Kingdom. The participation capital of Switzerland amounted to 706.4 million dollars, of which 141.3 are actually paid. His voting share reaches 0.87 percent.

The French group DCNS Defense rivals out of Germany (ThyssenKrupp) and Japan (Mitsubishi and Kawasaki Heavy Industries) and won a giant contract to build the new Australian submarines worth 50 billion Australian dollars, which means 34 billion euro at current exchange rates. The announcement, which covers a fleet of 12 new submarines, was given directly by the Australian prime minister Malcolm Turnbull, while the French side has even been described as "historic".

Greece has again liquidity problems and in the absence of an agreement with creditors to unblock a new tranche of aid – as the newspaper "Kathimerini" – money in the state coffers could end up in mid-May. The Tsipras government started from January to limit the outputs: in the first quarter of the public primary expenses were $ 1.34 billion less than the budget planned 10.5 billion. Despite having regularly paid pensions and salaries, the government was forced to save on other items of expenditure, including payments to health facilities.

Fragility financial markets, oil prices’ volatility, terrorism, Brexit and race for the White House. These are concerns that in the first three months of the year have resulted in a general decline in optimism from businesses about the economic outlook for the next 12 months. They are the most interesting figures of the last Ibr (International Business Report) Grant Thornton that the expectations of revenues, exports and R & D investment remains very low.