The biggest apparent bubble is in housing, but prices have surged for niche assets, too, such as calligraphy, antiques and art. In May, futures prices for soybean meal, used as pig feed, jumped 40%. The pipe-making material PVC is up 40% so far this year on the Dalian Commodity Exchange. Source: WSJ
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Speaking in an interview in the February issue of “Gold Investor” — a magazine issued by the World Gold Council, Greenspan argued that imbalances in the economic strength of eurozone nations make the continued function of the single currency area a major concern. Source: Business Insider
A special budget only for the countries of the euro area, the EU Council as “a true legislative chamber” – MEPs propose. The report by Italian Socialist Mercedes Bresso and the German Christian Democrat Elmar Brok proposes reforms that would not require changes in the EU Treaty of Lisbon. Source: PAP/Onet
“I’m in favour of a treasury for the euro zone. I’m in favour of a budget or a fiscal capacity of the euro zone of a limited amount capable of helping us to invest on the one hand and also fight unemployment,” Source: Reuters