The Swiss population has rejected in a referendum on Sunday, with 74% of votes against, the popular proposal that would have limited the “creation” of money only to the National Bank of Switzerland.
Time is moving on. After the more than satisfactory agreement reached by Prime Minister David Cameron after renegotiating the UK’s relationship with the European Union, the countdown to the June 23rd referendum has begun. And as happened with the Scottish referendum, the British government is ready to bring out all the big guns.
The Chancellor’s latest Budget saw the cumulative forecast for government borrowing over the next five years revised up by close to GBP 40bn. This reflects both weaker cyclical growth and also the Office for Budget Responsibility (OBR) taking a gloomier view on UK trend productivity growth.
MADRID | J.P. Marín Arrese | Heavy turnout in the Scottish referendum ensured a clear victory for those rejecting independence. Yet, a huge share of citizens showed their readiness to switch-on the atomic bomb, regardless of the awesome consequences.
MADRID | The Corner | The pound fell around 1% against the euro on Monday and the dollar after the results of the first serious poll giving the victory to “yes” in the referendum on separation for Scotland. According to the latest YouGov poll published a day before, the support of Scottish independents would reach 51% vs 49% who are against if the undecided are excluded. UBS economist Paul Donovan commented about the risk of a narrow result in the polls in favor of remaining in the UK, similar to what happened in Quebec in 1995.