Big investment banks with their European headquarters in London will start the process of moving jobs from the U.K. within weeks of the government triggering Brexit, a faster time line than their public messages of patience would imply, according to people briefed on the plans being drawn up by four of the biggest firms. Source Bloomberg
Italy faces an “Excessive Deficit” ruling, the first in EU history. Italy’s response is a parallel currency proposal, dubbed mini-Bills of Treasury (Mini-BOTs) Source: Mish Talk
Canada’s bank regulator, the Office of the Superintendent of Financial Institutions, on Tuesday raised the capital requirement level for ‘systemically important’ banks in the country by 25 basis points, to 2%. Source: Reuters
Serbia ordered its troops on full alert on Tuesday and Russia accused Kosovo of provocation after a Kosovan police anti-crime operation in a region populated mainly by Serbs led to clashes. Source: Reuters
