In the third quarter, the dollar comprised 63.3 percent of allocated reserves, the smallest share since the third quarter of 2014. The dollar made up 63.8 percent of allocated reserves in the second quarter. The euro’s share rose to 20.3 percent in the same period from 20.0 percent the quarter before. Source: Reuters
French President Emmanuel Macron has announced a new nationwide lockdown from Friday to stem a surge in coronavirus patients in French hospitals, warning that the second wave of the virus is “likely to be deadlier than the first”. Source France24
Business owners and opposition politicians in Italy rebelled on Wednesday against the latest restrictions imposed to combat a spike in coronavirus cases, after days of occasionally violent protests. Source France24
Italy has announced a major boost to its defense budget even as the country spends millions of euros battling the devastating effect of COVID-19 on its economy.
Overall defense ministry spending is up 9.6 percent this year to €15.3 billion (U.S. $18.1 billion), with the procurement budget emerging as the big winner as it rises by 26 percent from last year if coupled with top-up spending from the industry ministry. Source Defence News
