Britain’s government unveiled a new interventionist approach to rebalance its heavily services-based economy for the post-Brexit era, in a break with traditional Conservative laissez-faire economic policy. Prime Minister Theresa May’s “Modern Industrial Strategy”demands closer collaboration in key industries in exchange for government support. Source Reuters
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Italy’s plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Source Reuters
Catalonia’s regional parliament, which is dominated by parties that want the region to break away from Spain, approved Wednesday a 2017 budget that includes funding for an independence referendum. Source The Local
Catalonia’s separatist government on Sunday again urged Spain’s central government to let it hold a legal referendum on independence like the one Scotland staged in 2014 with London’s approval. Source the Local