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CCB and OMFIF sign strategic partnership

CCB and OMFIF sign strategic partnership

27 Apr 2016

China Construction Bank, the world’s second largest bank by assets, and OMFIF agreed a strategic partnership on the renminbi's internationalisation.

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  • SDR could become currency in own right

    Chinese move advances SDR promotion

    25 Apr 2016

    China's plan to prepare a platform for SDR borrowing on its onshore market advances promotion of the IMF's composite accounting unit, but making it a currency in its own right will be a long journey with many hurdles, says David Marsh, OMFIF managing director.

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  • UK ‘immensely enriches’ European Union

    UK 'immensely enriches' European Union

    22 Apr 2016

    Europe irrefutably needs the Brits. We Europeans outside the UK have to do our best to convince them to stay in, say Marcello Minenna and Edoardo Reviglio in an OMFIF Commentary.

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  • EU poll could transform political system

    EU poll could transform political system

    21 Apr 2016

    The 23 June referendum could transform Britain’s party political system, says Meghnad Desai, chairman of the OMFIF advisory board, in the latest in OMFIF’s UK EU referendum series.

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  • 'Massive protest vote' looming in June

    'Massive protest vote' looming in June

    18 Apr 2016

    Those who have unambiguously benefited from being part of the EU need to make the case to the rest of the electorate, but have yet to so convincingly or forcibly, Bruce Packard, an independent consultant covering UK banks, says in an OMFIF Commentary.

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    Commentary

    • What a wonderful non-EU world

      by Stuart Wheeler in London | Fri 29 Apr 2016

      The world outside the European Union will be wonderful! That’s why the UK should leave. Outside we can take our own decisions. We have not been invaded for nearly 1,000 years. We have taught others how governments should work. Now we can be our own masters again. Why should we worry about entering a world where we decide for ourselves? Are we afraid they will be horrid to us if we leave? My message to British people who are proud of our country, as I am, is this: For goodness sake, vote Leave.

      MARKET: Europe

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    • Frankfurt: ready to help

      by Eric Menges in Frankfurt | Thu 28 Apr 2016

      If Britain decides to leave the European Union on 23 June, Frankfurt is a probable winner – at least in part. Some financial market participants would look for an alternative to London to maintain business models that require a European passport or single market privileges. Should post-referendum circumstances require professionals to set up in Frankfurt, we are here to help. We like the Brits and would be reluctant to see them depart. But if they go, they go. Before and after 23 June, Frankfurt is open for business.

      MARKET: Europe

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    • Wage stagnation overshadows US poll

      by Marsha Vande Berg in San Francisco | Wed 27 Apr 2016

      America’s economic worries hover like dark clouds over the presidential candidates’ campaign trail. In past campaigns, candidates could focus on shiny promises of education, a good wage, home ownership and future prosperity for voters’ children. This time, wage stagnation is the central issue – reflecting the electorate’s fears of losing both income and hopes for the future. Whoever takes office in January will have to find sound policies that can move America and Americans forward.

      MARKET: US

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    • Back to hopelessness

      by Jan von Haeften in Hamburg | Wed 27 Apr 2016

      I fear that, if the British decide to leave on 23 June, this will be, for the Germans, an enormous disappointment. Bereft of British support, Germany could be hemmed in by a coalition of forces within the euro area embarked on economic and monetary policies inimical to its interests. That could change the face of German politics in a way that can hardly be foreseen. The Germans would, once again, feel left alone. I do not wish it to happen but it might: the return of hopelessness, a period of darkness across the heart of Europe.

      MARKET: Europe

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    OMFIF Chart

    ECB voting rotation

    by Ben Robinson

    At the 10 March ECB monetary policy meeting Bundesbank President Jens Weidmann did not have a vote, due to rotating voting rights introduced in 2015. The rotation along national lines raises the risk of members pursuing national interests in policy decisions. This may make consensus more difficult to achieve.

    ECB voting rotation

    Cost cuts and market share

    by Ben Robinson

    Despite substantial cost-cutting efforts, southern European countries have failed to achieve significant increases in export market share since the financial crisis, according to data collated by the Österreichische Nationalbank.

    Austria meeting

    Great Monetary Polarisation set to widen

    by David Marsh and Ben Robinson

    The Great Monetary Polarisation between the US and Europe is underway. The message from 70 years of monetary history is that, in the next few months, there is a roughly 50% chance of large-scale foreign exchange upheaval.

    Great Monetary Polarisation set to widen

    Chinese stock market fall sends worldwide ripples

    by William Baunton

    Bear market now gripping Hong Kong stock market too

    Chinese stock market fall sends worldwide ripples
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    Advisory Board View

    Britain 'better off' if it votes to stay

    We put two questions to members of the Advisory Board: 1) Do you believe Britain would be safer, more secure and prosperous inside or outside the EU? 2) With regard to the rest of the EU, would a British exit promote disintegration or integration? An overwhelming majority of respondents said that Britain would be safer, more secure and more prosperous inside the EU.

    Britain 'better off' if it votes to stay
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