12, New York, the euro currency against the U.S. dollar dropped to a level higher than 1.2824, the fourth day of consecutive decline, showing a rapid pullback of a wavelet We believe that this is mainly the recent rapid warming the global market due to risk aversion, the euro decline will not last long, medium and long term market outlook continues to look relatively strong.
20 Fourth Summit of the Group (G20 summit) 26 to 27 held in Toronto, Canada. Including Chinese President Hu Jintao, U.S. President Barack Obama, including multi-national leaders will attend the meeting mainly discussed global economic recovery and the financial regulatory reform and other important issues.
As the national economic recovery process is completely different, a few days before the summit, world leaders and exchange in an interview when they have shown different positions. The Toronto summit, the European sovereign debt crisis intensified the spotlight. Earlier, in large part because the budget deficit to stimulate the economy, have in Greece, Spain, Portugal, Italy, the crisis and faces sovereign credit risk. Even outside the euro area in the United Kingdom, Hungary and Bulgaria have also been dragged down. The escalating debt crisis is becoming the European Union and the world economy is facing a major threat.
Another significant differences also appear in the issue of levying a “bank tax” on. 22, Germany, France and Britain announced the beginning of bank tax levy, the funds will be used to cover the cost of the loss of financial crisis. But Canada, Japan and other countries in the stand on this issue against the party. These countries that their banking sector performed well during the financial crisis, banks do not levy taxes.
Indian Foreign Minister Krishna 30, left the United States to participate in the beginning will be held on June 1 the first round of Indo-US strategic dialogue, and President Barack Obama this fall in preparation for the first visit to India.
The dialogue will be U.S. Secretary of State co-chaired Hillary Clinton and Krishna, the Indian Human Resource Development Minister Kapil Sibal, India’s Planning Commission Deputy Chairman Ahluwalia, India’s Minister of State for Science and Technology pliteklav Jieqia Fan and the Foreign Secretary will work together to participate in La Aoqi other strategic dialogue.
According to the German “Handelsblatt” 14 reported that the European Central Bank President Jean-Claude Trichet told the newspaper interview that the ECB decided to buy euro zone government bond measure will not lead to inflation.
Trichet stressed that there will be no such results. He also said the euro zone has been in the past 11 years to successfully achieve the price stability as the top priority, while the ECB has not changed now that monetary policy stance. He also said that the European Central Bank will also take the appropriate recovery of mobility initiatives.
Since the debt crisis of the Greek cause tension in the euro zone finance rapid warming, the EU finance ministers after a 11-hour “marathon” meetings, finally in the early morning of May 10, announced jointly with the International Monetary Fund to set up a up to 750 billion euros in crisis response fund. 10 morning, the European Central Bank has taken an unprecedented move, decided to buy euro zone member from the secondary market of government bonds, which is the European Central Bank response to the debt crisis of the strong euro-zone policy tools. However, this move has caused the parties to the euro zone inflation anxiety.
Tags: inflation measure
Iceland Iceland, the court ordered the detention of 7 one of the three banks Keyipuxin two former bank president, to meet the Icelandic banking collapse in 2008 related to the investigation.
Agence France-Presse quoted the words of the Prosecutor Horlaville Hauksson reported Keyipuxin Hera Chelsey former president of Bank and the Bank Luxembourg in Sigurdson, former president of mage Markowitz gate region Song has been detained.
Iceland, local media reported Sigurdson detention period of 12 days, Gudmundsson will be detained for 7 days.
Hauksson office said in a statement on the 6th, Sigurdson and Gudmundsson They were “economic crime” and “market manipulation and other securities trading guidelines for committing acts” under investigation.
Iceland in 2008 by the financial turmoil in the banking sector suffered heavy losses. Iceland’s three major banks have taken over the government Keyipuxin Bank, National Bank and Glitnir Bank in Iceland.
Previously, Iceland investigation found that when decision makers in these banks, “let not appropriate loan”, resulting in near-collapse of banks.
Tags: Iceland bank