December, 2018

• 11 December

  Mike Pompeo blasts Russia for ‘bombers’ sent to Venezuela

  

  Bloomberg US Secretary of State Michael Pompeo criticised the Russian government for sending “bombers halfway around the world” to Venezuela. “The Russian and Venezuelan people should see this for what it is: two corrupt governments squandering public funds, and squelching liberty and freedom while their people suffer,” Pompeo said on Twitter. It’s “absolutely inappropriate” for Pompeo to call the Russian ...

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• 11 December

  Four die as oppn, police clash before Togo votes

  Bloomberg At least four people died in clashes between Togolese police and opposition supporters before controversial parliamentary elections this month. Three people died in the capital, Lomé, over the weekend, while the body of another person was found in the northern town of Sokode, Security Minister General Yark Damehame said on state television. Opposition spokeswoman Brigitte Kafui Adjamagbo put the ...

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• 11 December

  Macron hands European Union new headache in fight over Italian budget

  

  Bloomberg French President Emmanuel Macron has emboldened Italy’s populists in their standoff with the European Union by embarking on a spending spree of his own. The promises Macron unveiled in a bid to defuse the Yellow Vest protests, from a 100-euro ($114) a month hike in the minimum wage to abolishing a tax on pensions, could play into the hands ...

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• 11 December

  Brazil abandons UN migration treaty

  Bloomberg Brazil’s incoming government won’t sign a broad United Nations migration treaty, following in the footsteps of the US and Chile in a crackdown on open borders. Ernesto Araujo, who will be Foreign Minister under President-Elect Jair Bolsonaro, said on Twitter that the United Nations Global Compact for Migration is “an inadequate instrument to deal with the problem” and that ...

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• 11 December

  Kabila may seek presidency after 18-year Congo rule

  

  Bloomberg Outgoing Democratic Republic of Congo President Joseph Kabila signalled he’ll remain active in politics and would consider running for office when he’s eligible again in 2023. The 47-year-old leader is preparing to step down after ruling the cobalt- and copper-rich Central African nation for almost 18 years. He’s chosen Emmanuel Ramazani Shadary to succeed him in a December 23 ...

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• 11 December

  Germany’s economy will be Europe’s problem

  

  The imminent end of German Chancellor Angela Merkel’s final term presents a great challenge for both her country and the entire European project. If her successor can’t pull the German economy out of its slide towards second-tier status, the union could lose its most important financial supporter. Since Merkel’s announcement that she will not seek another term in 2021, the ...

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• 11 December

  Macron puts on his yellow vest

  

  If you thought Emmanuel Macron was too much of a technocrat, you’ll only be partially convinced by his attempt to switch to a yellow vest. France’s president has fallen prey to the same curse that has afflicted all of his predecessors over the past decade: Angry protests over necessary economic reforms, and plummeting popularity. Despite his solid start as a ...

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• 11 December

  Europe is still not ready to mend the monetary union

  

  Not long ago, EU leaders were talking about a grand bargain to reform their currency union. It isn’t happening. Europe’s finance ministers have just approved a package of reforms to strengthen the monetary union. Their plan falls far short of what’s needed. The new proposals aren’t worthless — any steps to better equip the euro zone to deal with the ...

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• 11 December

  An alarming challenge to India’s central bank

  India’s government is conducting a dangerous experiment in economic management. This week, following renewed pressure to conform to the government’s thinking, the head of the Reserve Bank of India (RBI), Urjit Patel, resigned, citing “personal reasons.” Prime Minister Narendra Modi’s officials have challenged the RBI’s operational independence before, but their latest effort marks a significant escalation. It’s a pattern seen ...

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• 11 December

  A win on China car tariffs is irrelevant for automakers

  

  The “will they, won’t they” chatter over China’s car tariffs misses where the real action is for automakers. Confusion has abounded over the deal struck between US President Donald Trump and his Chinese counterpart Xi Jinping. Trump tweeted that China was reducing and removing its 40 percent tariffs on US car imports – two very different things. Car stocks rallied ...

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