President Donald Trump said he’s actively considering a breakup of giant Wall Street banks, giving a push to efforts to revive a Depression-era law separating consumer and investment banking. “I’m looking at that right now,” Trump said of breaking up banks in a 30-minute Oval Office interview with Bloomberg News. “There’s some people that want to go back to the old system, right? So we’re going to look at that.” Source Bloomberg
- Leading researcher reveals new facility capable of simulating flight at 30 times the speed of sound will be ready ‘soon’
- Power produced by the JF-22 will be seven times more than the Hoover Dam in the US, almost as much as Three Gorges Source South China Morning Post
The European Commission is preparing a case to assert the primacy of EU courts over rulings from Germany’s Federal Constitutional Court. The issue relates to the buying of government bonds by the European Central Bank. Brussels is expected to launch an infringement procedure against Germany after a ruling by the country’s Federal Constitutional Court that is seen as incompatible with European Union law. Source Deutsche Welle
Europe has been “forged in the crises” and therefore must emerge strengthened from the pandemic, for example, by making permanent mechanisms such as the EU Recovery Fund or the Sure Fund, said Bank of Italy Governor Ignazio Visco on Monday.
Visco also said the EU mechanisms are “common debt, well distinct” from the “previous debt of the single countries, which would remain national responsibility”, even if a part of this could enter into common management, “for example through an amortisation fund”. Source Euractiv
