Follow ‘MoreLiver’ on Twitter
EUROPE
To safeguard the euro as
a currency beyond the state, euro area countries should consider pooling their
national sovereignty over a wider range of EMU-related policy areas, as
necessary to achieve more effective risk control and more efficient risk
sharing.
Against the backdrop of
a charged political climate, greater flexibility on debt and deficit rules plus
ECB largesse are helping national economies
GREECE
Understanding the
mismanagement of the crisis in Greece becomes easier to understand when it is
viewed as a game. The game has participants, rules and scheduled events. The
preferred solution is muddle-through, and we will get that for years to come.
Greece’s international
creditors are discussing a plan to drastically scale back the International
Monetary Fund’s exposure to the country, potentially through an EU buyout of up
to €14bn in IMF bailout loans.
Greece Braces for More Austerity Amid EU-IMF
Quarrel About Debt – BB
PM Tsipras faces
parliamentary test in belt-tightening vote * Creditors at loggerheads over
debt-relief measures needed
BREXIT
Brexit Monitor No. 4 – Danske Bank
Economists are losers so
ignore them on Brexit – Simon Wren-Lewis
U.K. House Prices Could
Drop 18% After Brexit, Treasury Says – BB
France Warns U.K. on
‘Illusion’ of Keeping Advantages Outside EU – BB
UNITED STATES
FEDERAL
RESERVE
Word From the Minutes
That Tempers Rate Hike Expectations – BB
These Dates Will Be
Crucial as the Fed Nears a Possible June Hike – BB
OTHER
G-7
SUMMIT
Stephen King: Can the G7
rekindle the flame of co-operation? – FT
Finance Chiefs Unanimous
in Denouncing Brexit as Wrong Choice – BB
G-7 Warns on Weak Global
Growth as Japan Bristles Over Yen – BB
Japan, U.S. Discord on
Yen’s Surge Resurface at G-7 Meeting – BB
U.S., Japan disagreement
on yen moves overshadows G7 meeting – Reuters
G7 finance leaders
debate global economy, risks – Reuters
G7 united against Brexit
but can only hope for an 'In' vote – Reuters
April’s set of macro economic
data weaker than in March. Still, we have seen signs of macro economic
stabilisation in recent months. Stimulus filters through, resulting in a
rebound of the real-estate sector. Credit growth still outpacing nominal GDP
growth. Rising debt level is a key risk, though mainly a domestic, longer-term
issue. Policy focus shifts back to structural issues, but no radical changes
expected.