- PBOC considering a widening of the yuan’s trading band after a major Communist party meeting this year
- to allow it to rise or fall 3 percent against the dollar from the daily mid-point rate set, up from the current 2 percent
- That would allow the central bank to argue the yuan’s liberalization was on track, and could be useful in trade talks with Washington, but tight controls on capital outflows and the level at which the yuan starts trade each day reduce its impact, the sources said
- “A yuan band widening is possible. There could be some internal consensus on this,” said one source who advises the government on policy. “But the impact won’t be big – it may just be a gesture to express the commitment to long-term market reform.”
A stinging rebuke by voters in the Tokyo Metropolitan Assembly election Sunday is certain to set off postmortem finger-pointing and a strategic recalibration within Prime Minister Shinzo Abe’s ruling party as he weighs a path forward for amending the constitution.
“We take the results seriously,” a stunned Liberal Democratic Party Secretary-General Toshihiro Nikai told reporters Sunday night. “We will reassess what needs to be reassessed and do our best to recover our lost ground.”
Hakubun Shimomura, who heads the LDP’s Tokyo chapter but faces allegations of receiving murky political donations, attributed the party’s loss to trouble on the national level. “Heavy headwinds were blowing far above, in national politics,” he said in a Fuji Television program. He later told reporters that he plans to step down to take responsibility for the loss.
Abe’s party had enjoyed unrivaled strength since unseating the Democratic Party of Japan in December 2012, as victories in three national-level elections followed. But a favoritism scandal involving a veterinary school run by a friend of Abe’s as well as a gaffe by his hawkish defense minister on the campaign trail appear to have weakened public support.
The first round of the French presidential elections is scheduled for this Sunday, while the run-off is set for May 7.
“Marine Le Pen said that she wanted an exit of the European Union organized with our European partners and that this departure would be sanctioned by a referendum. [Which will be held] undoubtedly in the first half of 2018,” David Rachline said.
According to Le Pen’s campaign manager, she also wants to “drastically change economic policy, while putting an end to increasing financialization and globalization of the economy.”
“We were warned of a catastrophe with the Brexit vote, the facts, however, disagree with those merchants of fear who in reality do not want us to touch this system, which grants them numerous advantages!” Rachline pointed out.
The United Kingdom’s decision to leave the European Union and the victory of Donald Trump in the US presidential election in 2016 were seen as big victories for the anti-establishment and anti-globalist movement. Le Pen’s approach seems in sync with the growing anti-globalism trend.
Despite leading in the polls for Round One, The Express reports that a monumental computer blunder could cost Marine Le Pen the French general election as 500,000 citizens living outside of France have the chance to vote twice.
The election has become extremely close with just 4.5 percentage points separating Macron, Fillon, Mélenchon, and Le Pen…
Which is why this shocking error in election procedures could be the swing to crush Le Pen’s hopes. As The Express reports, half a million people received duplicate polling cards in the post, which would allow them to cast two votes at the first round of the election, held on April 23.
French authorities confirmed they would not be investigating the potential electoral fraud until AFTER the election, when retrospective prosecution may take place.
We are sure this is a simple ‘accident’, but coincidentally (for the establishment), this could crush Ms Le Pen’s dreams of surging to power, as most French nationals living outside of their country are not right wing – demonstrated by the fact many feel they depend on the European Union (EU) to guarantee their stay in foreign countries. Far left candidate Jean-Luc Melenchon, who has surged in the polls recently and threatens to break into the leadership race against Ms Le Pen and Mr Macron, could also benefit from this catastrophic error.
It’s no secret that there is a concerted effort underway to do everything possible to remove President Donald Trump from office.
From Russian ties to business conflicts of interests, both Democrats and Republicans are actively working to find chinks in the President’s armor.
But for those with hope of change in their hearts, Democrat Senator Diane Feinstein says there is a possibility that Trump will eventually remove himself from office by filing his own resignation.
Speaking to a crowd during a town hall-style Questions and Answers session, Feinstein was asked how Congress is going to deal with Trump’s alleged illegal activities:
Journalist: We don’t know what’s happening but we know that he is breaking laws every day, he’s making money at Mar-a-lago, he’s getting copyrights in China, he has obvious dealings with Russia, the Dakota pipeline… there’s some many things that he’s doing that are unconstitutional… how are we going to get him out?
Feinstein: We have a lot of people looking at this… Technical people… I think he’s going to get himself out… I think sending sons to another country to make a financial deal for his company and then have that covered with government expenses… I think those government expenses should not be allowed.. we are working on a bill that will deal with conflict of interest… it’s difficult…
Videos of Feinstein speaking to what appears to be a local press pool of reporters and protesters appear below. You can jump to 1:30 in the first video to listen to Feinstein discuss Trump’s conflicts of interests, or watch from the beginning to hear Feinstein’s response to how her husband’s firm directly benefited from bills she voted into law, proving once again that the hypocrisy of socialist Congressional representatives from California has no bounds…
— Javier Panzar (@jpanzar) March 17, 2017
— Javier Panzar (@jpanzar) March 17, 2017
The ruling Liberal Democratic Party decided Sunday to extend its term limit on party leaders, potentially allowing Prime Minister Shinzo Abe to remain in his role until September 2021.
Abe’s tenure as president of the LDP was set to run out in September next year before the rule change, which would have meant stepping down as prime minister even if the LDP was still in power.
This means Abe can stand for re-election in the next party leadership vote in the fall of next year.
Abe, 62, served as prime minister for around a year before resigning in September 2007. He became prime minister again when the LDP returned to power in December 2012 after a three-year period in opposition.
The European Parliament has voted to strip Marine Le Pen, France’s far right presidential candidate, of her immunity from prosecution in a case relating to violent images she posted on Twitter.
Voting in Brussels on Thursday, parliamentarians concluded that the Front National leader’s posting of images of executions by ISIS was likely to have violated “human dignity.”
Ms Le Pen is under investigation by French authorities over the incident, which involves photos from 2015 showing the killing of three hostages.
The investigation is unrelated to a separate probe into Ms Le Pen concerning alleged use of EU money to pay FN party staff.
First it was the US, then Germany blamed much of what is wrong in society on “fake news”, and not, say, a series of terrible decisions made by politicians. Now it is Italy’s turn to call for an end to “fake news”, which in itself would not be troubling, however, the way Giovanni Pitruzzella, head of the Italian competition body, demands the European Union “cracks down” on what it would dub “fake news” is nothing short of a total crackdown on all free speech, and would give local governments free reign to silence any outlet that did not comply with the establishment propaganda.
In an interview with the FT, Pitruzzella said the regulation of false information on the internet was best done by the state rather than by social media companies such as Facebook, an approach taken previously by Germany, which has demanded that Facebook end “hate speech” and has threatened to find the social network as much as €500K per “fake” post.
Pitruzzella, head of the Italian competition body since 2011, said “EU countries should set up independent bodies — co-ordinated by Brussels and modeled on the system of antitrust agencies — which could quickly label fake news, remove it from circulation and impose fines if necessary.”
In other words, a series of unelected bureaucrats, unaccountable to anyone, would sit down and between themselves decide what is and what isn’t “fake news”, and then, drumroll, “remove it from circulation.” On the other hand, coming one week after Obama give Europe the green light to engage in any form of censorship and halt of free speech that it desires, when the outgoing US president voted into law the “Countering Disinformation And Propaganda Act”, it should come as no surprise that a suddenly emboldened Europe is resorting to such chilling measures.
So with Europe on the verge of rolling out unbridled censorship, here is the strawman used to justify it.
With Facebook having announced last week the launch of measure to flag and eliminate fake news from appearing on its website, Germany does not think the process is fast enough, and according to Germany’s Justice Minister Heiko Maas, German judges and state prosecutors need to crack down straight away on fake news disseminated through social media platforms such as Facebook. Interviewed by Bild am Sontag, Maas, a Social Democrat in conservative Chancellor Angela Merkel’s coalition, has repeatedly warned the U.S. technology company to respect laws against defamation in Germany that are more rigid than in the United States and added that the newspaper the principle of free speech does not protect against slander.
With the ECB snubbing Italy on Friday, and refusing to grant insolvent bank Monte Paschi more time to find a financial rescue, it was of paramount urgency for Italy to announce a replacement government that of outgoing prime minister Matteo Renzi, in order to mitigate concerns about the ongoing political chaos. As a result, on Sunday, Italy’s President Sergio Mattarella asked departing Foreign Minister Paolo Gentiloni – a loyalist from Renzi’s Democratic Party – to form a new government, in the process hopefully bringing to a close a political crisis triggered by a ‘no vote’ in a referendum on constitutional reform last weekend.
As the WSJ first reported, Mattarella gave Gentiloni the mandate to try to form a new caretaker cabinet. Gentiloni, 62, accepted and will begin consultations with political parties to put together his team of ministers. That list could emerge as soon as Sunday evening, setting the stage for the new government to seek votes of confidence in parliament by Tuesday. Correspondents say that if he is successful in rallying support a government could be formed in days.