The Bank of Japan is set to become the biggest buyer of exchange-traded funds in 2016 for the second straight year. The value of the BOJ’s ETF purchases this year has topped 4.3 trillion yen ($36.5 billion), up 40% from 2015. Source: Nikkei Asian Review
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The European Stability Mechanism (ESM) — the euro zone’s bailout fund — should ultimately be turned into a European version of the International Monetary Fund, the head of euro zone finance ministers said on Monday in a German newspaper. Source: Ekathimerini
German Finance Minister Wolfgang Schäuble has said the European Banking Authority should be merged with the European insurance regulator, with the merged body to be located in Frankfurt. Source: Handelsblatt
Cash-strapped Greek firms have started paying employees in kind, mainly with supermarket coupons. Employees faced with the highest unemployment in the European Union are complaining but often have little recourse. Source Deutsche Welle