Italy

Can Macron Save The World? Save France?

Would the French parliament go along with relaxing labor laws, cut business taxes? Would the parliament allow a referendum on the Euro? If the answers are no and no, then what’s changed? The real battle over the survival of the eurozone will take place in Italy, not France.

A Delighted Wall Street Reacts To The French Election

With European stocks on fire, and US futures moving fast to recoup recent all time highs, it is no surprise that Wall Street is feeling particularly bullish this morning. Below is a sample of slleside analyst reaction to Sunday's outcome.

Outrage After At Least 5 EU Nations Elect Saudi Arabia On UN Women's Rights Council

“Saudi discrimination against women is gross and systematic in law and in practice. Every Saudi woman must have a male guardian who makes all critical decisions on her behalf, controlling a woman’s life from her birth until death. Saudi Arabia bans women from driving cars,” he continued. “Why did the UN choose the world’s leading promoter of gender inequality to sit on its gender equality commission?”

Central Banks Give "All Clear" To BTFD If French Election Upsets Market

"The central bank is ready for any shocks that should materialize [after the French election]... Intervening very quickly is really very easy now given the instruments we have... But as we have seen in similar cases, no need has really been observed. And the reason is that all market participants know that these instruments are there to be used."

Fitch Downgrades Italy To BBB From BBB+

"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."