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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Press conferences and trade wars

 

Last week spoiled us in terms of news and this week can’t live up to the new standard. Long story short, not a whole lot is going on, and the effects from last week’s events are  wearing off slowly.

At the annual German federal press conference, Angela Merkel has shown herself supportive of Italy and its policy measures to avoid catastrophe and proclaimed her deep regret over how terrible everything is going for Greece. Moreover, she defended Jens Weidemann of the Bundesbank, who had been criticized by her Finance Minister Wolfgang Schaeuble over the weekend (most of that criticism was centered Weidemann being a central banker and therefore not a real person). Other points included no eurobondsmore Effizienz bitte, and a ‘well, let’s take it one at a time, shall we’-view on the banking unionread article

Another press conference is being held by Google and Deutsche Bahn today, announcing some sort of joint venture.

In SpainFinance Minister Luis de Guindos said he favored a bailout for Spain rather sooner then later. In direct response there were riots and protests on the country’s streets as everyone from the unemployed high school graduate, to the unemployed qualified worker knows by now that a bailout brings more cutsread article

The US is making its case against Chinese export subsidies in the car industry at the World Trade Organization. America claims to be forced to bring their car [part] manufacturing overseas to stay competitive, which proves detrimental to the US economy. This is the third case of the US vs China at the WTO this year. In March, supported by the EU and Japan, concerned China’s production of rare minerals, currently at 90% of global supply, which are necessary for manufacturing telecommunications products. In July, another case regarding the car industry was made to break Chinese taxes on US-manufactured cars. And as any news out of the land of the free at this point in time, this relates nicely to the presidential campaign, Obama announced the WTO case in Ohio. read article

Otherwise, EADS and BAE are facing the first hurdles: worried about the German and French holding of EADS, the pentagon is worried to buy from defense company BAE. Internally, EADS is looking to offer Germany veto-rights in the combined company’s board.

Things to look forward to this week include the Dutch budget, to be submitted tomorrow, the Bank of Japan’s policy meeting on Wednesday, China’s PMI on Thursday and Chinese-EU meetings in Brussels on Thursday.

So long.

 

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One Response

  1. princess1960 says:

    i start to like MERKEL…she don’t care for nothing just for her political cost. …………….. .JAPAN is very strong too .
    Obama very good move
    Spain is have to risk (real estate) ..better (ligo) than nothing ..
    EU IS PARALISE NOW
    THANK YOU

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