UK - Business lobby group British Chambers of Commerce (BCC) says most UK companies want to stay in Europe, with some powers brought back home.
VATICAN - The Catholic Church's new leader has appointed a group of top churchmen to advise him on how to reform the Vatican's often arcane bureaucracy. Pope Francis chose eight cardinals and a bishop who between them represent nearly every continent, and only one of whom is currently a Vatican official. The bureaucracy, or Curia, has been blamed for the Church's hesitant response to sex abuse and other crises. It is nearly 50 years since the Vatican's last major reform. The cardinals who elected Pope Francis last month were strongly critical about basic failings of the Curia under Pope Emeritus Benedict, the BBC's David Willey reports from Rome.
VATICAN - From the moment he walked out onto the balcony of St Peter's Basilica and stood calmly surveying the crowd, Pope Francis' body language has suggested a change of style. Tuesday's shorter, simpler, inaugural Mass reinforced the impression of a Pope of humility and simplicity. Pope Francis' homily - direct and comprehensible - suggested that those qualities would shape his pontificate too.
PORTUGAL - Portugal's leading elder statesman has called on the country to copy Argentina and default on its debt to avert economic collapse, a move that would lead to near certain ejection from the euro.
USA - While the federal government has pushed Wall Street to make itself more transparent with trading, many high-rolling investors are avoiding more visible venues like the New York Stock Exchange (NYSE) and instead spending their money in so-called dark pools.
VATICAN - Pope Francis, in his first major decision, on Saturday set up an advisory board of cardinals from around the world to help him govern the Catholic Church and reform its troubled central administration.
USA - Loose central bank policies may threaten global financial stability when interest rates rise because lenders could become "addicted" to central bank financing and put off vital reforms, the International Monetary Fund has warned.
USA/GERMANY - Highlight from James Turk's interview Saturday with King World News. It's quite clear that the German gold is being held hostage. They are not getting what they want. They are getting what the Federal Reserve is telling them they can have.
USA - Top economic advisers warn that economic factors could lead to a new world war. Kyle Bass writes: “Trillions of dollars of debts will be restructured and millions of financially prudent savers will lose large percentages of their real purchasing power at exactly the wrong time in their lives.”
CYPRUS - First they purloin the savings and bank deposits in Laiki and the Bank of Cyprus, including the working funds of the University of Cyprus, and thousands of small firms hanging on by their fingertips. Then they seize three quarters of the country’s gold reserves, making it ever harder for Cyprus to extricate itself from EMU at a later date.
USA - The craziness on Wall Street, the reckless for-the-moment-only behavior that led to the Financial Crisis, is back. This time it’s Citigroup that is once again concocting “synthetic” securities, like those that had wreaked havoc five years ago.
EUROPE - European Union ministers will consider a proposal this week to impose losses on interbank deposits of lenders in dire financial trouble as they shape a draft EU law introducing powers that would also penalize those with big savings.
USA - The big banks are breathlessly proclaiming that now is the time to sell your gold. They are warning that we have now entered a “bear market” for gold and that the price of gold will continue to decline for the rest of the year. So should we believe them?
USA - Cyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF ["too big to fail"] banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors.
EUROPE - Europe needs to recapitalise, restructure or shut down its banks as part of a vital clean-up of the industry, International Monetary Fund managing director Christine Lagarde said as she warned that the threat from world’s biggest lenders was “more dangerous than ever”.