Brexit: Polling companies, hedge funds and Farage

Bloomberg have published an investigation that implies that Nigel Farage and hedge funds had market moving information from polling companies on the Brexit vote.

Hedge funds paid for access to polling data before it was released to the public. Knowing the likely impact of those polls, these hedge funds were then able to place positions. Continue reading “Brexit: Polling companies, hedge funds and Farage”

Germany’s coalition threatened over EU migration

Merkel’s CDU coalition partner, the CSU, are demanding Merkel reaches a satisfactory agreement over EU asylum policy.

There are profound splits in Europe over migration with East European countries refusing to take in quotas of migrants. Italy has also joined the opposition.

This means it is unlikely there’ll be anything from tomorrow’s emergency European summit to placate the CSU. Continue reading “Germany’s coalition threatened over EU migration”

Fallout: Mattarella refused to endorse Eurosceptic

On Sunday Italy’s President Sergio Mattarella refused to endorse Eurosceptic Paolo Savona for finance minister.

Savona was the nomination of coalition partners, the Five Star Movement (M5S) and right-wing party the League.

Mattarella then rubbed salt in the wound with an invite to former IMF official Carlo Cottarelli to form a government. The reaction from the M5S/League coalition was fury. Continue reading “Fallout: Mattarella refused to endorse Eurosceptic”