The election result of the island reflects directly on the British pound rate, which dropped by 2% to 1.2740 against the US dollar. Macron’s victory changes moods in the EU, with intentions to create a common prosecutor’s office, a finance ministry, a common tax system and defence forces finding more and more supporters. Last week was also the ECB meeting, which did not change its policy.
First growth in industrial production in the UK in May by 0.2%. This is the only good news about the island, against the backdrop of a complex post-election situation. The election result reflects directly on the British pound rate, which dropped by 2% to 1.2740 against the US dollar. The situation is getting more complicated, it’s obvious we won’t be witnessing a firm Brexit. PMI indices show growth in business activity in construction and industry, but there is a slowdown in the services sector. The plans of the financial institutions on the island are now becoming clear, which are beginning to navigate their offices to Frankfurt, Luxembourg or Paris.
Macron’s victory changes moods in the EU, with intentions to create a common prosecutor’s office, a finance ministry, a common tax system and defence forces finding more and more supporters. The growth of the Eurozone’s BVR on an annual basis is 1.9% and the EU’s 2%, with Romania’s strongest performance - 5.7%. Justice reform in our northern neighbour is the main difference between us and them, and it has a quantitative dimension across the GDP of the two countries.
Last week was also the ECB meeting, which did not change its policy. With interest was observed Mario Draghi’s statement, in which he did not allow the opportunity to observe for the future lower interest rates. This is what he does for the first time in his speech. The central banker noted the positive signals in Europe’s economy. Recent inflation data showed that Mr Draghi was right about the erratic nature of inflation, which is influenced by oil prices.
