economics

Italy Rocks World Markets, Crisis Talk, Soros Warning: Eco Day

  • Italy’s populists start to mobilize for early election
  • Soros sees new global financial crisis brewing, threat to EU

Italian Selloff Is 'Not Justified,' UniCredit CEO Says

Good morning Americas. Here’s news from Bloomberg Economics to help get your Tuesday started:

  • Turmoil in Italy continues as the nation’s populist leaders mobilize for early elections, heralding an uncertain new period for the country’s political and economic outlook. Bank of Italy Governor Ignazio Visco said the the nation is always just a few steps away from the “very serious risk of losing the irreplaceable asset of trust.”
  • The talk was all about crises -- both past and future -- as some of the world’s leading economists gathered at a conference over the weekend
    • Meanwhile, in a speech in Paris Tuesday, investor George Soros said that a surging dollar and a capital flight from emerging markets may lead to another “major” financial crisis, while also warning the European Union that it’s facing an imminent existential threat
  • Japan’s long-term struggle with deflation continues to provide lessons for the rest of the world, Federal Reserve Bank of St. Louis President James Bullard said Tuesday in Tokyo
  • Spain’s government nominated the central bank’s head of research and statistics as its next governor. Pablo Hernandez de Cos, 47, is a fiscal conservative who will have a say in European monetary policy
  • After Turkey’s currency crisis, Bloomberg Economics looks at the fault line in emerging markets and which economies might be next
  • Finally, here’s a look at Prime Minister Justin Trudeau’s hipster economics
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