Merkel calls for global financial charter
German leaders are proposing a system to improve transparency for global financial markets at a key European summit on global finance, as well as rules governing executive pay and a stronger role for the International Monetary Fund.
According to a position paper from the Finance Ministry, Germany will seek backing from European government and financial leaders for these and other regulatory measures for the world's financial markets during a meeting on Sunday in Berlin.
"We want to make sure that in the future there are no gaps in the world regarding financial products, market participants or instruments," German Chancellor Angela Merkel said on Saturday.
Heads of government and finance ministers from Britain, Italy, Luxembourg, Spain, the Netherlands and current EU president Czech Republic will attend the meeting aimed at solidifying a common European position ahead an April summit of the Group of 20 advanced and developing nations in London.
Merkel is calling for a "charter of sustainable economic activity" aimed at reducing economic imbalances in hopes of stabilizing financial markets and preventing crises like that triggered by the collapse of US mortgage markets last year.
A day after Russian President Vladimir Putin declared victory in seizing an eastern Ukraine province essential to his wartime aims, a city in the path of Moscow's offensive came under sustained bombardment, its mayor said Tuesday. Mayor Vadim Lyakh said in a Facebook that “massive shelling” pummeled Sloviansk, which had a population of about 107,000 before Russian invaded Ukraine more than four months ago.
A judge is holding a hearing Tuesday to consider a lawsuit filed by Mississippi's only abortion clinic, which is trying to remain open by blocking a law that would ban most abortions in the state. The Jackson Women's Health Organization sought a temporary restraining order that would allow it to remain open, at least while the lawsuit remains in court. It does not have an exception for pregnancies caused by incest.
China has started permitting international flights after a two-year ban due to the Covid-19 pandemic, but there is no word yet on the resumption of air services to India even after Beijing lifted a visa ban for Indian professionals and their families last month. China is also processing the list of hundreds of Indian students wanting to return to the country to re-join their colleges. Beijing is reportedly reviewing the Indian student lists.
Chinese vice-premier Liu He had a “constructive” dialogue with US Treasury secretary Janet Yellen on Tuesday with both sides agreeing to strengthen “macro-policy communication” and coordination, according to a statement from China. Liu expressed concern over the additional tariffs that the US had imposed on Chinese goods during the video conversation, the official Chinese statement, released by state news agency Xinhua said. The exchange was “pragmatic and frank”, the Chinese statement said.
The European Parliament on Tuesday ratified landmark laws that will more closely regulate Big Tech and curb illegal content online, as the EU seeks to bring order to the internet "Wild West". "With the legislative package, the European Parliament has ushered in a new era of tech regulation," said a key backer of the laws, German MEP Andreas Schwab.