Key Economic News to Watch This Week: March 18
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The fallout from Saturday’s deal to bailout Cyprus is expected to extend to global markets this week, renewing fears over the euro and regional stability. In the United States, both the President and VP will be out of the country on the same day, at least for a few hours – a rarity in itself.
Monday, March 18
The fallout from Saturday’s deal to bailout Cyprus is expected to extend to global markets this week, renewing fears over the euro and regional stability. In the United States, both the President and VP will be out of the country on the same day, at least for a few hours – a rarity in itself.
Monday, March 18
The P5+1 group of nuclear negotiators – the five permanent members of the UN Security Council and Germany – resume talks in Istanbul over Iran’s nuclear programme. The “technical-level” meeting will be held behind closed-doors, giving the six world powers and Iran a chance to turn diplomatic progress into concrete measures.
The European Union’s agriculture and fisheries council is among committees meeting in Brussels this week. Leaders say the common agriculture policy should be more environmentally friendly, ensure high-quality food supplies and distribute subsidies more fairly among farmers.
Related Story: Europe’s ‘Sacred Cow’: Should the Common Agricultural Policy Be Culled?
A verdict in the trial of former Italian Prime Minister Silvio Berlusconi on charges of paying for sex with an underage prostitute is expected in Milan. If convicted, Berlusconi faces a three-year jail sentence, as well as a further 12 years if found guilty of abusing his official position. However, the 76-year-old media billionaire is not expected to spend any actual time behind bars because the Italian law is generally lenient on convicts over 70.
Tuesday, March 19
Pope Francis is officially installed as head of the Vatican and world leaders are expected gather in Rome for the special Mass. Joe Biden, first Roman Catholic to serve as Vice-President, leads the U.S. delegation to the Holy See.
Meanwhile, U.S. President Barack Obama visits Israel, the Palestinian territories and Jordan as part of efforts to restart the long-stalled Israel-Palestinian peace initiative.
The UN Security Council’s meeting in New York includes an open debate on Afghanistan, chaired by Russian foreign minister Sergey Lavrov.
Related News: US Calls for Ban on Drunk Diplomats at UN Meetings
Wednesday, March 20
Faced with the risk of a third British recession since the 2008 crisis, Chancellor of the Exchequer George Osborne will deliver his fourth austerity budget despite calls for a change of course. According to the finance minister, there can be no let-up on spending cuts if the UK is to avoid a European-style debt crisis.
Saturday, March 23
Earth Hour is marked in 7,001 cities and towns across 152 countries and territories. Communities, businesses and governments are encouraged to switch off non-essential lighting for an hour as a massive show of concern for the environment.
Related News: China To Spend $372 Billion On Green Projects
Related News: Germans to Pay 47 Percent More For Renewable Energy In 2013
