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  • Article / 25 April 2017 at 14:48 GMT

    French toast?

    Head of Trading / The ECU Group plc
    United Kingdom
    French toast?
    The first round of the French presidential election brought a sigh of relief across markets, but France's likely next president, Emmanuel Macron, faces formidable challenges to reform his country's troubled economy, and much will depend on whether he gets a mandate for change in the June parliamentary elections.
    Read the article
  • Editor’s Picks / 07 September 2015 at 12:21 GMT

    Dr Issing warns of EU superstate by backdoor

    The Telegraph
    Creating a Eurozone-wide finance ministry before such power is democratically anchored would be a mistake, Otmar Issing, former ECB chief economist and board member, says. Political union cannot be obtained in the European Union by the backdoor, Issing told policymakers at a gathering on Lake Como, The Telegraph's Ambrose Evans-Pritchard reports. Proposals for an EMU finance ministry appeared in a paper by the heads of the European Commission, Council, Parliament, Eurogroup, and ECB in June, a document known as the “Five Presidents Report.” It would start as an advisory fiscal board and a strategic investment fund, which would be "a finance ministry in embryo," and evolve towards a “euro area Treasury” from 2017 onwards, Evans-Pritchard says. The euro may survive “for a period” under its current structure, but it will break apart if the monetary union's principles are permanently violated. “Pacta sunt servanda (Agreements must be kept),” said Professor Issing.
    Read article on The Telegraph
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