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Euro is here to stay as Brexit serves as warning to defectors

Bloomberg The euro will live for at least another two decades after financial crises since the start forced governments to strengthen its foundations, according to economists surveyed by Bloomberg. But as the currency celebrates its 20th birthday this year, most respondents warn against complacency — particularly after populist political campaigns across the region publicly toyed with the idea of exiting ...

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Italian stocks shrug off investor concern

Bloomberg The government is feuding, the budget numbers don’t add up, questions are swirling around banks. But Italy’s stock market is on a roll. The FTSE MIB benchmark has risen 7.6 percent this year, the best performer among major European markets, helped by gains at oil services company Saipem SpA as well as from recently added member Juventus Football Club ...

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PG&E crisis: Banks face $760mn exposure to municipal bonds

Bloomberg The impending bankruptcy of PG&E Corp is threatening to foist large liabilities on five banks that have agreed to act as buyers of last resort for more than $760 million of bonds that the teetering utility issued through California government agencies. The company’s announcement that it plans to seek protection from creditors triggered a surge of selling by owners ...

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