Global Monetary System Needs To Change
CAPE TOWN – South African Reserve Bank begins its three-day monetary coverage committee meeting (to July 20).
By mid-2013 the continuing eurozone crisis had produced prolonged recession and report common unemployment in the area (and extremely excessive unemployment in Greece and Spain). In 2014 the specter of deflation and resurgent recession led the ECB to adopt additional measures designed to encourage lending and scale back the value of the euro, and the ECB subsequently started to emphasize the necessity to sort out excessive unemployment and improve financial competitiveness within the eurozone nations. Greece’s persistent economic issues and its new government’s desire for the easing of bailout situations led to a brand new disaster in mid-2015 and to the demand by Germany and other eurozone nations for greater austerities and changes in Greece. The disaster also undermined the sense of common European goal and uncovered divisions within the EU.
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PRAGUE – Czech National Bank holds Monetary Policy Meeting. Statement and presentation shall be published. MOLDOVA – National Bank of Moldova proclaims interest rate decision. SUVA – Reserve Bank of Fiji holds board meets to announce rates of interest – 1200 GMT. TUESDAY, JULY 4 SYDNEY – Reserve Bank of Australia holds monetary coverage assembly – 0430 GMT. WEDNESDAY, JULY 5 BANGKOK – Bank of Thailand financial policy committee assembly. BANGKOK – twenty fourth ASEAN EU Senior Officials Meeting (to July 6). THURSDAY, JULY 6 KIEV – National Bank of Ukraine holds financial policy assembly. CAIRO – Central Bank of Egypt holds financial coverage committee meeting.
Federal regulators said they would drop civil costs in opposition to two former J.P. Morgan Chase & Co. traders on the center of the 2012 London Whale” saga, ending the final U.S. case in opposition to merchants involved in a debacle that value the New York bank more than $6 billion.