The International Monetary Fund (IMF) opened an official expert discussion on the need to create "central fiscal stabilization mechanism" in the euro area, simply put, a rainy-day fund. The IMF believes that it is necessary to deduct 0.35% of the GDP of the euro area countries per year. This step could be an alternative to the idea of the euro zone budget, formed from the taxes of EU countries in...

The Spanish authorities opened a new campaign against supporters of independent Catalonia. On Sunday, the former head of the Generalitat (Parliament of Catalonia) Carles Puigdemont was arrested in Germany at the request of the Spanish Supreme Court. The court also issued a warrant for the arrest of four ministers who fled the country together with Mr. Puigdemont. In Spain, five regional...

A global report suggests that since protectionism becomes the key slogan of governments, companies are looking for various ways to overcome any obstacles to trade. Of the 6,000 firms surveyed by HSBC, 61% said that governments have become even more protective of their domestic economy. This sentiment was the strongest among companies in the Middle East and North Africa (70%) and the Asia-Pacific...

The EU is waiting for the final decision of the US administration on the issue of steel and aluminum customs duties. If they are introduced to products from the EU, retaliatory measures will follow, German Chancellor Angela Merkel said on the night of the first day of the EU summit. "We cannot yet say what the decision will be," she said, "We believe that it was important to look for ways for...

The nonprofit organization Campaign for Accountability presented a report on the impact of the Google corporation on decisions of European politicians and regulators through the funding of scientific research. As a rule, subjects of the organization’s studies are sensitive issues in the field of antimonopoly legislation, privacy policy, copyright or the "right to be forgotten." In addition to...

Globalization contributes to deepening inequality, although it leads to an increase in the incomes of the population. At the same time, the latter effect is more pronounced in developing countries that have recently become part of the global market. The deepening inequality is commonly found in the developed markets, according to the IMF's Working Report called The Distribution of Gains from...

The US tax administration's efforts to disclose offshore account holders have increased tax collections by $ 3.5 billion since 2008. Systemically, however, they were more or less unsuccessful, according to a study by the University of Michigan. In addition to one-time payments, they gave an increase in the base for income tax of $ 2.5-4 billion, which corresponds to additional charges of $ 0.7-1...

A congress of one of France's leading political parties, the extreme right-wing National Front (FN), ended. Marine Le Pen collected 1,5 thousand of their fellow party members in Lille to choose a new chairman and a new name that would not sound "military". As a result, Marin Le Pen was reelected as the only candidate, and the party was named "National Union". Despite the announced update, the...

Next year, the Norwegian government will be more restricted in spending money from the state sovereign wealth fund of the country, which is estimated at $ 1 trillion, as economic growth will accelerate, said the prime minister and the country's finance minister. "There are not many opportunities to add new funds to this budget," Finance Minister Siv Jensen said at a press conference ahead of the...