Thursday, July 21, 2016 - 13:50 US GOP Platform's Support of Glass-Steagall Return Perplexes 0
--Republican Platform Backs Return of Depression-Era Banking Law
--Analysts Say GOP Policy Is Tactical Election Move
--Democratic Platform Also Set To Back Glass-Steagall
WASHINGTON (MNI) - For much of modern American political history, there has been a dispute about how seriously to take the party platforms approved by Democrats and Republicans during presidential election years.
Should they be viewed as serious statements of intention, casual afterthoughts, or symbolic gestures that are offered to the party faithful and to key interest groups?
There is no single answer to this...
Thursday, July 21, 2016 - 02:33 REPEAT: EC Awaits Improved Commitments From Spain, Port - srcs 0
-Commissioners: Neither's 'reasoned request' adequate for close 0% sanction
BRUSSELS (MNI) - European Commissioners are still debating how to proceed with Portugal and Spain's breach of the excessive deficit rule, after "reasoned requests" from both countries were discussed during Wednesday's College meeting, but were judged not adequate to justify a decision for sanctions close to 0%, two well placed sources told Market News.
One source said that the Commission has told the Spanish and Portuguese governments that, legally, they still have until Friday to improve their requests, submit supplementary details and avoid heavier sanctions that, according to the rules, could go as...
Wednesday, July 20, 2016 - 04:07 REPEAT: GREECE WATCH-EU Vigilant On Reform Implementation -Src 0
--EC Warns No Flexibility On Fiscal Implementation - Sources
ATHENS (MNI) - The European Union will be closely monitoring Greece's implementation of required reforms over the summer, as it wants to minimize the risk for further destabilization of the Eurozone amid Brexit concerns, Portugal and Spain's pending sanctions ruling and the ongoing issues in the Italian banking sector, a high ranking Eurozone official told MNI
Earlier this week, European Commissioner for Economic and Financial Affairs, Pierre Moscovici, warned the Greek government to implement all pending prior actions and milestones set in its third bail-out programme by the end of August...
Tuesday, July 19, 2016 - 11:44 US Hill GOP Leaders Seek To Recast Party As Problem Solvers 0
--House Speaker, Senate Majority Leader Take Center Stage
--Republican Platform: Tax Reform Is 'Moral Imperative'
--GOP Platform Endorses Audit of Fed
WASHINGTON (MNI) - Congressional Republican leaders will take center stage Tuesday at the Republican National Convention and try to describe the Republican Party as offering visionary ideas and solid problem solving skills.
House Speaker Paul Ryan, Senate Majority Leader Mitch McConnell, and House Majority Leader Kevin McCarthy will address the RNC Tuesday evening.
Ryan has spent the entire year trying to transform the House...
Tuesday, July 19, 2016 - 07:40 Hammond: BOE Well-Placed To Deal With Brexit Shock Near Term 0
By David Robinson
LONDON (MNI) - The new UK Chancellor Philip Hammond said Tuesday that the Bank of England was well-placed to deal with the short-term impact of the vote to leave the European Union, with the Treasury providing a longer-term solution in the Autumn Statement.
Hammond, taking questions in parliament, did not set a date for the Autumn Statement and refused to be drawn on possible measures that it could contain.
Some of the BOE's policy instruments, however, such as quantitative easing and the Funding for Lending Scheme, rely on Treasury support and if the Monetary Policy Committee wishes to revive them in August it would need Hammond to back them.
The split between the BOE dealing with the short-...
Tuesday, July 19, 2016 - 04:34 Moody's Warn UK On Post-Brexit Creditworthiness - Text 0
-But sees continuing strength in economy size, solid institutions
LONDON (MNI) - Ratings agency Moody's has said the UK 's creditworthiness is under downward pressure following the referendum vote to leave the European Union. The full text of Moody's statement follows.
London, 19 July 2016 -- The UK's creditworthiness is under downward pressure following the decision to leave the European Union, says Moody's Investors Service in a report just published.