For a change, we are opening the review with a good news this week: according to official figures, the UK’s economy has been growing by 0,5 percent in the three months following the Brexit vote, a figure stronger than the 0,3 percent estimates previously announced. The economy in the United Kingdom has undoubtedly slowed, but has performed better than expected. The economy growth is boosted by the service sector, the other figures indicate that the other sectors of the economy have not performed well.
Earlier last week, the Canadian region of Wallonia, a french-speaking region with population of 3.6 million, vetoed the CETA deal between Canada and the European Union that would reduce trade tariffs between Canada and the EU member states by 98 percent, contributing to save an estimated figure of 500 Million Euros annually. Wallonia voters have been demanding stronger safeguards on labour and higher environmental and consumer standards, as reported by the BBC. The negotiations took seven years. The failure of the deal comes in a difficult time for the European Union’s credibility and popularity, following Brexit, the Hungarian referendum against immigration (which did not reach the quorum) and the Polish government’s opposition to Brussels.
A new website http://www.thenewpoundcoin.com/ was launched and is now urging firms to adapt for the release of the new pound coin in the United Kingdom. According to the website, the new coin will be much more secure:
12-sided – its distinctive shape makes it instantly recognisable, even by touch.
Bimetallic – it is made of two metals. The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy).
Latent image – it has an image like a hologram that changes from a ‘£’ symbol to the number ‘1’ when the coin is seen from different angles.
Micro-lettering – it has very small lettering on the lower inside rim on both sides of the coin. One pound on the obverse “heads” side and the year of production on the reverse “tails” side, for example 2016 or 2017.
Milled edges – it has grooves on alternate sides.
Hidden high security feature – a high security feature is built into the coin to protect it from counterfeiting in the future.
European officials and politicians were warned by the economic minister of Italy Pier Carlo Padoan of disaster and border chaos if Brussels will reject Italy’s new budget plan for 2017, where deficit goes up from 2 to 2.3 percent in order to face the last summer earthquake’s damages across Central Italy and the immigration crisis. Brussels is perplexed with the plan and the Italian government is afraid to see the plan rejected. The Italian Prime Minister Matteo Renzi recently scored the support of President Obama after being invited to the POTUS’ state dinner last week.
The tumultuous U.S. presidential elections are affecting Wall Street, as on Monday the indexes barely changed, according to Reuters. Investors are not willing to make any bet at the moment, after Hillary’s email controversy has been reopened by the FBI earlier last week, giving space to Donald Trump to catch back in the opinion polls.