It is the 22nd of October 2019

News

Macron And Le Pen Move To The 2nd Round: What Happens Next, According To Goldman And Citi

Most of the results are in, and while it remains close, Macron will likely be the winner of the first French presidential round and is set to face Marine Le Pen in the runoff.

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Fitch Downgrades Italy To BBB From BBB+

Having largely disappeared from the market's scope for the past 6 months, ever since Europe "bent" its rule allowing the bailout of Monte Paschi and several smaller banks despite Italy having the greatest amount of disclosed NPLs of any European nation, moments ago Fitch decided to drag Italy right back in the spotlight when it downgraded Italy to BBB from BBB+, citing "Italy's persistent track record of fiscal slippage, back-loading of consolidation, weak economic growth, and resulting failure to bring down the very high level of general government debt has left it more exposed to potential adverse shocks. This is compounded by an increase in political risk, and ongoing weakness in the banking sector which has required planned public intervention in three banks since December."

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Fitch Downgrades Italy To BBB From BBB+

Having largely disappeared from the market's scope for the past 6 months, ever since Europe "bent" its rule allowing the bailout of Monte Paschi and several smaller banks despite Italy having the greatest amount of disclosed NPLs of any European nation, moments ago Fitch decided to drag Italy right back in the spotlight when it downgraded Italy to BBB from BBB+, citing "Italy's persistent track record of fiscal slippage, back-loading of consolidation, weak economic growth, and resulting failure to bring down the very high level of general government debt has left it more exposed to potential adverse shocks. This is compounded by an increase in political risk, and ongoing weakness in the banking sector which has required planned public intervention in three banks since December."

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Europe Starts Freezing Britain Out Of EU Contracts

Diplomatic relations between the UK and EU are fast approaching zero degrees Kelvin.

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Europe Starts Freezing Britain Out Of EU Contracts

Diplomatic relations between the UK and EU are fast approaching zero degrees Kelvin.

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