Governatives

Bets have turned decisively towards a favorable vote by the British to stay within the European Union after the warning by US President Barack Obama, who warned London the risks caused by ‘Brexit’.

The implied probability of a vote to remain in the union during the referendum of 23 June rose by several percentage points to 75% share, according to Betfair, known British betting agency. According to Ladbrokes however, which is based on live betting, are 73% chances that Britain votes to stay in the European Union.

The Ifo index, which measures business confidence in Germany, fell in April to 106.6 points from 106.7 in March. It is a minimal decline, which, however, confirms the overall resilience of the confidence in the German economy enterprises, is the Monaco Institute comments.

The government of Saudi Arabia is ready for the creation of a sovereign wealth fund that would make it independent from oil, Mohammed ben Salmane, the deputy crown prince, revealed in an interview with Al-Arabiya television, which include measures. They will be realized by 2030: almost 15 years when the whanabita regime wants to create "the world’s largest sovereign wealth fund", with a budget that exceeds $ 2 trillion (about 1780 billion Euros). In the case of the amount of achievement, would beat the "treasure" that accompanies the Norway’s sovereign fund, which currently has just under 870 billion dollars of investments around the world.

Activity levels across Japan’s manufacturing sector contracted sharply in April. Japanese manufacturing activity contracted this month at the fastest in more than three years and output fell the most in two years, after earthquakes halted production in the southern manufacturing hub of Kumamoto. The preliminary Nikkei Manufacturing Purchasing Managers Index fell 1.1 points to a seasonally adjusted 48.0 in April from a final 49.1 in March. The data was way down the expected 49.6 figure. The PMI remained below the 50 threshold that separates contraction from expansion for the second consecutive month and showed activity contracted the most since January 2013. Moreover, the output component of the PMI index also fell to 47.9 from 49.8 in the previous month to show the fastest contraction since April 2014. The sharp drop in total new work was underpinned by the fastest fall in international demand since December 2012, and following the two earthquakes in Kumamoto, the outlook of the goods-producing sector now looks especially uncertain.

It signed the final agreement for the approximately 50,000 Italians represented by the Task Force Argentina (TFA) in ICSID arbitration proceedings and holders of Argentine bonds in default since 2001. The agreement signed at this time in New York confirms a cash payment equal to 150% original nominal amount of the bonds by the end of June for about $ 1.35 billion, and concerns investors who had not adhered to the two exchange offers (swaps) proposed by the Argentine government in 2005 and 2010.

The Spanish deficit for 2015 highlights the challenges that the country faces on Public Accounts ground.

It is the opinion of Fitch points out that the slowdown in the consolidation of the accounts last year reinforces the idea that the high Spanish public debt ratio to decline only gradually. The reduction occurred up to 5.1%, from 5.9% reached in 2014 can not obscure the fact that Regional and social security budgets missed their targets.

The Eurogroup has mandated the President Jeroen Dijsselbloem to start the comparison with Greece on strain of the Greek debt. "Nothing contained in the package will be closed until the whole package will be closed," said the same Dijsselbloem.

At the meeting "there was a common point of view that it is conceivable, feasible riprofile the greek public debt without a par value cut, without a haircut", said Christine Lagarde, director of the International Monetary Fund. "Based on our analysis of the sustainability of the Greek debt – said Lagarde – you can operate using all existing devices", in fact except for a haircut. For some time the IMF considers it necessary to reduce the greek government debt, defined unsustainable and on this point the clashes with European governments, in particular Germany, were different.

The jobless total in the UK increased for the first time in almost a year. The UK unemployment rose by 21,000 to 1.7 million between December and February, and that was the first increase since the May-July period of the last year, the Office for National Statistics reported. The number of people claiming unemployment-related benefits increased by 6,700 in March to 732,100, the first monthly rise since last August. Meanwhile, the unemployment rate remained at anticipated 5.1%, which is still down by 0.5% on a year ago and the lowest since 2005.