President Francois Hollande’s campaign to slow the pace of France’s deficit reduction effort begins today as the new ministerial duo responsible for the economy and finance court their German counterparts in Berlin.
The rand’s slump to a five-year low is souring investor confidence toward South Africa, complicating Finance Minister Pravin Gordhan’s efforts to cut the fiscal deficit as government borrowing costs rise.
Germany’s regulator balked last year when the European Banking Authority conducted stress tests on financial firms, objecting to the agency’s definition of capital and allowing one state-owned lender to withhold some results.
Western leaders may think Vladimir Putin is crazy for threatening to annex Crimea and invade other areas of Ukraine. Most Russians, still bitter about the Soviet Union’s demise more than two decades ago, couldn’t be prouder.