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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The start of the G7 in Taormina is set for May 26, but the security measures will begin to be operational as early as this morning. It means that no ship could get close, it means that boats full of migrants who already throng the central Mediterranean will dock elsewhere. Source corriere
Italy’s economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full “bail-in” hit the lenders’ debt. Source Reuters
SHANGHAI, May 26 China’s yuan on Friday extended the previous day’s big gain, hitting its strongest level in more
than three months, and the Chinese currency was on track for its best week since mid-January. Source Reuters