Foreign investors have shown interest in Greek bonds
|Negotiations on Brexit have moved into the main phase. Negotiators from the EU and Britain have launched the second round of talks on Brexit. Together with their teams, they will seek progress above all on key issues such as safeguarding citizens‘ rights after the departure of Britain from the bloc in the spring of 2019 and the issue of British financial commitments to the union.
Poland has been given a month to redress its reforms. The European Commission has given Poland a month to bring the country‘s controversial judicial reform into line with EU law. Otherwise, the country is in danger of initiation of a procedure that could lead to the withdrawal of Poland‘s voting rights in the EU.
Inflation has slowed down in Europe. The year-on-year rate of growth of consumer prices in the EU as a whole and the eurozone slowed down slightly in June. In countries paying with the euro, inflation fell to 1.3 percent from 1.4 percent in May and in the EU to 1.4 percent from 1.6 percent.
Paris should become the main financial center of Europe after Great Britain leaves the EU, according to French government plans. At a banking conference in the French metropolis, Prime Minister Edouard Philippe said that the government wants to achieve this goal „by all means". At present Paris ranks 29th in the Global Financial Centres Index . Greater opportunities for taking over financial activities are currently given also to Dublin, Ireland and Frankfurt, Germany.
Foreign investors have shown interest in Greek bonds. The country will earn three billion euros under good conditions. On 25 July the Greek government issued five-year bonds worth three billion euros with 4.625 percent interest. In this way the country returned to the bond markets after a three-year break. According to Reuters the new issue of bonds represents a major step for Greece to gain financial independence and leave the international rescue programme next year.
The IMF has increased its growth forecast for the German economy. While in April the International Monetary Fund was still counting on growth of the German economy by 1.6% this year, it has now raised this to 1.8%. The main reason stated was growth in domestic demand and exports. Growth in employment, increased government spending and the relaxed monetary policy of the European Central Bank are helping the German economy.
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