Products synonymous with the credit crisis such as “collateralized debt obligations” and “synthetic securitization” are returning as investors take on more risk while banks are forced by regulators to reduce it. Source: The Globe and Mail
President Macron promised French households a €6 billion tax cut as he launched plans designed to reinvigorate his flagging presidency. The tax cut, earmarked for next year, would be paid for in part by cutting more than 4,000 public-sector jobs as well as reducing pensions and benefits. Mr Macron said that it would help to usher France towards a new era of prosperity and shore up his credibility within the European Union. Source The Time
China has reacted with anger to the news that the United States is ready to approve a $330 million arms sale to neigboring Taiwan. Source: CNBC
The European Union said late Monday that it would establish a special payment channel to allow European and other companies to legally continue financial transactions with Iran while avoiding exposure to U.S. sanctions. Source: The Wall Street Journal
