Key Economic News to Watch this Week: July 2
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The European Union seems to be a step closer to resolving its 30-month long crisis after its leaders agreed on plans to stabilise the region’s troubled banks. However, markets are increasingly impatient for a major market boost and central banks might be forced to act with the imminent global market slowdown.
Related News: Quick Wrap-up of EU Summit
The European Union seems to be a step closer to resolving its 30-month long crisis after its leaders agreed on plans to stabilise the region’s troubled banks. However, markets are increasingly impatient for a major market boost and central banks might be forced to act with the imminent global market slowdown.
Related News: Quick Wrap-up of EU Summit
Related News: “Epic Battle” At EU Summit as Growth Pact Held Up By Italy, Spain Demands
Monday, July 2
World Finance Conference takes place in Rio de Janerio with the aim of establishing a high quality discussion forum in all finance subjects, for academics, professional society and practitioners.
Kim Jim Yong takes over as chief of World Bank, in succession to Robert Zoellick.
Related Story: America’s Perverse Control Over the World Bank: Joseph Stiglitz
Related Story: Can The World Bank Rediscover Itself? : Jeffrey Sachs
Tuesday, July 3
Talks between Iran and P5+1 take place in Istanbul. The so-called P5+1 group includes UN Security Council permanent members, the United States, Britain, France, Russia, and China, plus non-permanent member Germany.
The European Commission presents in Brussels a legislative package designed to rebuild consumer trust in financial services. The proposals cover investment and insurance products and accompanying information for customers, as well as new rules on the tasks and liability of depositaries, the remuneration of fund managers and sanctions for the sector.
The two-day Europlace Financial Forum opens in Paris, with the theme of “finance as a key driver of growth” for France and Europe. Leading economic officials and financiers discuss financial and market reforms, public and private financing, and stimulating growth.
Related Story: Banking Breakdown – Why The Basel Accords Failed: Stefano Micossi
Related Story: Can Islamic Finance Repair The Modern Financial System?: Andrew Sheng & Ajit Singh
Wednesday, July 4
Leaders of the Caribbean Community, the region’s economic union, hold their heads of government conference in Saint Lucia (until July 6).
Independence Day is celebrated in the US with a national holiday marking the declaration of independence from Britain on July 4 1776.
Thursday, July 5
The annual World Investment Report is published by the UN Conference on Trade and Development. The report surveys global investment trends and suggests how foreign investment can be directed to developing countries to create jobs and stable growth.
Related News: ILO Sees No End To Global Job Crisis
Saturday, July 7
Libya holds an election to form the General National Congress, which will appoint a cabinet and oversee the drawing up of a new constitution.
