Key Economic News to Watch This Week: May 28

The gathering of European leaders last week failed to bring any clarity on the euro’s future and outlook. Neither progress was made over the debt crisis, nor any commitment from eurozone leaders to prevent the imminent Grexit, or Greece’s exit from the euro. Until a decision is made, the euro and eurozone markets will continue in its vulnerable state, threatened by the weight of huge capital outflows.

Monday, May 28

The gathering of European leaders last week failed to bring any clarity on the euro’s future and outlook. Neither progress was made over the debt crisis, nor any commitment from eurozone leaders to prevent the imminent Grexit, or Greece’s exit from the euro. Until a decision is made, the euro and eurozone markets will continue in its vulnerable state, threatened by the weight of huge capital outflows.

Monday, May 28

The African Development Bank begins its annual meetings in Arusha, Tanzania. This year’s theme is ‘Africa and the Emerging Global Landscape: Challenged and Opportunities, where distinguished speakers and thinkers will debate Africa’s growth and political landscape.

Indian Prime Minister Manmohan Singh visits Myanmar, the first official visit by an Indian premier since 1987. He is expected to meet with the country’s leaders and develop stronger trade and investment ties.

Related Story: International Sanctions May Ruin Myanmar’s Opportunity For Change: Joseph Stiglitz

Related News: U.S. Lifts Sanctions on Burma

Tuesday, May 29

A report, “Golden rules for a golden age of gas”, published by the International Energy Agency, outlining the benefits and risks of shale and other forms of unconventional gas. It features two new cases: a Golden Rules Case, in which the highest practicable standards are adopted, gaining industry a “social license to operate”; and its counterpart, in which the tide turns against unconventional gas as constraints prove too difficult to overcome.

Paul Krugman, the Nobel Prize-winning professor of economics at Princeton University, talks about his book ‘End This Depression Now!’ at the London School of Economics.

Defence ministers of the Association of Southeast Asian Nations hold their annual two-day meeting in Phnom Penh, Cambodia.

Sudan and South Sudan resume border talks.

Wednesday, May 30

The European Commission in Brussels announces its annual economic recommendations for EU member states, as well as the results of its reviews of 12 nations, including the UK, France, Italy, Spain and Sweden, found to have macroeconomic imbalances.

The challenges facing Asian economies and their role in the global economy are discussed at the World Economic Forum on East Asia, which opens in Bangkok (until June 1).

The 11 member nations of the Council of the Baltic Sea Region hold a two-day summit in Stralsund, Germany. The states of Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, Norway, Poland, Russia and Sweden are joined by a European Commission representative.

The International Labour Organisation holds in Geneva its 101st session of the International Labour Conference (until June 15).

Thursday, May 31

The Republic of Ireland holds a referendum on the EU’s fiscal discipline treaty.

Related News: Ireland To Hold Referendum on Fiscal Treaty

Related News: Irish Town Revives Pre-Euro Currency to Boost Economy

Russian’s Vladimir Putin travels to Belarus, his first foreign visit since taking office earlier this month. 

Friday, June 1

China takes over presidency of UN Security Council.