Mario Draghi warned European leaders that the combination of rising global interest rates and explosive politics could expose the euro area’s underlying weaknesses. A rise in interest rates could put renewed pressure on countries with high debt that have failed to consolidate their budgets. Source: Bloomberg
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Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. Source Bloomberg
The news of former Georgian president Mikheil Saakashvili being stripped of his Ukrainian citizenship felt so sudden and out of nowhere. One thing is sure: Ukrainian President Petro Poroshenko’s team didn’t take a summer break, it is already working hard on getting ready for the 2019 presidential elections. Source BNE
Hungary has issued yuan-denominated “panda” bonds, targeted at the domestic Chinese market, for the value of RMB 1 bln with three-year maturity and a 4.85% coupon, the Government Debt Management Agency (ÁKK) said today, Hungarian news agency MTI reported. Source Budapest Business Journal