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The Latest: Italy official: migrants kept on ship unjustly

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ROME (AP) — The Latest on Europe's migrant crisis (all times local):7:00 p.m.A delegation from Italy's guarantor of personal rights has visited 150 migrants held on an Italian coast guard vessel for days, concluding they are being... Reported by New Zealand Herald 3 hours ago.

'No way': Italy's leader takes Australian cue on refugees

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Co-opting an Australian ad campaign, Italy's Deputy PM said no migrant rescued at sea will set foot on Italian soil. Reported by Brisbane Times 2 hours ago.

Italy threatens to suspend EU funding unless others take in migrants

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Italian Deputy Prime Minister Luigi Di Maio said on Thursday his party would vote to suspend funding to the European Union next year unless other states agreed to take in migrants being held on a coastguard ship in Sicily. Reported by Reuters 2 hours ago.

Italy threatens to suspend EU funding over migrants

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The Italian Deputy Prime Minister has said that his party would vote to suspend funding to the European Union next year if partners do not agree to take in migrants now being held on a coast guard ship in Sicily. Reported by RTE.ie 28 minutes ago.

In term sof risks, it’s been a strange summer - Nomura

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Analysts at Nomura explained that it’s been a strange summer, especially with Turkey added to the growing list of rolling volatility events this year. 

*Key Quotes:*

"Well the summer sun is nearly over and September holds a host of events risks to watch out for."

"The UK parliament returns from summer recess and the Brexit plan is still in doubt, the US is due to complete its review of China tariffs and the auto sector, Italy looks to submit its DEF and smaller European central banks may soon look to hike."

"But beyond the here and now, the US midterms are not long away off, with elections in Sweden, Bavaria, Brazil and India too. Looking forward, the Mueller investigation has picked up pace, NAFTA remains uncertain; the US Treasury’s semiannual FX report may focus more on China, while sanctions on Iran from November come into full effect."

"As 2019 approaches the market may start to focus more on Mr Draghi and Mr Carney’s possible replacements, the constant discussion over the timing and pace of ECB “lift-off” and the BoE’s reaction function to any or indeed no Brexit deal." Reported by FXstreet.com 2 hours ago.

Italy threatens to suspend EU funding if no deal to take in migrants

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Italy threatens to suspend EU funding if no deal to take in migrants The Italian Deputy Prime Minister has said that his party would vote to suspend funding to the European Union next year if partners do not agree to take in migrants now being held on a coast guard ship in Sicily. "If tomorrow nothing comes out of a European Commission meeting on redistributing migrants from the Diciotti ship, the 5-Star and I will not be willing to give €20bn each year to the EU," Luigi Di Maio said in a video posted on Facebook. Three days after Italy's Diciotti coast guard vessel docked in Catania, 150 adult migrants remained on deck. After... Reported by WorldNews 1 hour ago.

Coming event risks and what to watch - Nomura

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Analysts at Nomura highlighted the key events coming up over the next few weeks from around the world.

*Key Quotes:*

24 August .Jackson Hole: Relative to Janet Yellen and Ben Bernanke, we do not expect any material developments from Jerome Powell’s speech at Jackson Hole. However, certain topics including the desired degree of monetary policy tightening (as we approach neutral), balance sheet reduction, FOMC communications and policymakers’ views on external developments will be of interest.25 August. Another NAFTA deadline: After starting the renegotiation process in August 2017, several rounds of negotiations and an intense series of top-level meetings in Washington DC, NAFTA negotiations are having a new push aimed at closing a deal by the end of August. However, as the marked date inches closer there are growing doubts about the possibility of reaching an agreement in the short term considering the lack of announcements on the most contentious parts of the negotiations (i.e., the sunset clause and the dispute resolution mechanism). The total amount of imports affected could be up to $614bn. Developments in the negotiations over the coming few days will be key for determining the likelihood of an agreement before year-end.

In coming weeks? A political drama down under: Prime Minister Malcolm Turnbull surprised everyone by declaring at a Liberal party meeting that the leadership position was open. He won the vote, but the political consensus is that the result will not silence Mr. Turnbull’s critics, and further instability within the Liberal National coalition (LNP) government may be likely.4 September. Parliament returns from recess. This is when political scrutiny over the government’s handling will pick up once again. The House of Lords will likely amend the Customs and Trade bills on 4 September and 11 September, respectively.

5 September. Bank of Canada meeting: The BoC remains highly data dependent, but also committed to a gradual approach to normalisation. The recent inflation surprise (headline +0.5% m-o-m vs +0.1% expected) has got the market excited about the possibility of a September hike (25% priced). However, we still expect the BoC to take a more moderated approach, hiking at the October meeting alongside the forecast updates. July’s inflation surprise was triggered by volatile components, while the core measures remained unchanged As such, we do not feel the BoC will want to send an implicit message to the market that the pace of hikes will increase based on one data release.

6 September. USTR closes review process on next round of China tariffs: At the moment, the review and comment process for the additional $200bn is under way at USTR and will likely last through 6 September, marking a key date in the dispute. Once the review process is complete, the Trump administration will likely release a final list of targeted goods and could move to enact the tariffs relatively quickly. The China trade balance figures are also released on the same day. While not a material event risk on its own, it serves as a reminder of the deterioration in the US trade balance with China since President Trump’s election win.

9 September. Sweden elections: In addition to calling for a referendum on European Union membership, the Sweden Democrats have demanded a freeze on migration and a crackdown on crime. They are currently polling in second place, but far from a majority, while polling on EU membership shows that Sweden wants to remain a part of the EU. The current coalition is an alliance between the centre-left Social Democrats and the Green Party, which came to power after the elections in 2014.  The risk here is the Sweden Democrats end up kingmaker to a new government. 

13 September. TCMB to hike? Following the most recent bout of TRY depreciation, inflation is on course to reach 20% levels in coming months, which we think it warrants lifting the policy rate from its current 17.75% level. However, the authorities seem to think that the non-interest measures undertaken by the banking regulator have fended off the “attack” on the currency. This suggests the TCMB might not hike unless the currency comes under renewed pressure in the run-up to the MPC meeting.

15 September. The EU/Russia sanctions review: This is not usually an event risk to bear in mind as the consensus view is that the EU will just automatically extend sanctions, with Italy likely to prioritise other matters. However, because it requires a consensus, and Italy’s political parties are more pro-Russian and are explicitly calling for the removal of Russia-related sanctions for Italy, their extension could be less of a given than usual. The UK meanwhile recently pushed the EU to follow the lead from the US on sanctions.

20 September. We expect Norges Bank to hike at September’s meeting. The Riksbank and Norges Bank have both signalled that they will raise interest rates this year. Ultimately, we remain sceptical that the Riksbank will follow through on its normalisation plans this year, and expect substantially less tightening in 2019 than currently forecast and priced by the market. On the flip side, we believe the market is underestimating Norges Bank tightening in 2019." Reported by FXstreet.com 12 minutes ago.

Corchia: Benfica is a perfect club for winning titles

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Corchia: Benfica is a perfect club for winning titles On loan from Sevilla, the full-back wants to use his time in Portugal to get back in the international spotlight - possibly even for Italy Reported by Goal.com 9 hours ago.

The Latest: Italy senator says migrants on hunger strike

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BRUSSELS (AP) — The Latest on Europe's migrant crisis (all times local):2:00 p.m.An Italian lawmaker says rescued migrants stuck aboard an Italian coast guard ship are starting a hunger strike.Opposition Sen. Davide Faraone,... Reported by New Zealand Herald 8 hours ago.

EU warns Italy to refrain from threats in migrant crisis

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EU warns Italy to refrain from threats in migrant crisis The European Union is warning Italy to refrain from issuing threats in the continuing migrant crisis after a prominent government member said that Rome... Reported by WorldNews 7 hours ago.

'Threats are useless' - Brussels rejects Italy's migration ultimatum

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Standoff over migrants stuck on boat in Catania takes new turn. Reported by euronews 6 hours ago.

Migrants stranded on Italian coast guard ship begin hunger strike

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Many of the 150 migrants on board are striking out of frustration Italy won't let them disembark unless fellow EU nations pledge to take them Reported by CBS News 6 hours ago.

Central Italy battling effects of earthquakes and bureaucracy as it struggles to rebuild

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It has been two years since a devastating 6.2 earthquake leveled parts of central Italy. Reported by FOXNews.com 5 hours ago.

Migrants aboard Italian coast guard ship begin hunger strike

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Migrants aboard Italian coast guard ship begin hunger strike Many of the 150 migrants stranded aboard a coast guard ship for a ninth day began a hunger strike Friday out of frustration that Italy won't let them disembark in Sicily unless fellow European Union nations first pledge to take them, authorities said, in the latest standoff provoked by Italy's anti-migrant interior minister. "They can do whatever they believe," Interior Minister Matteo Salvini tweeted, shrugging off the development that migrants were refusing meals aboard the Italian coast guard vessel Diciotti. The ship rescued them on Aug. 16... Reported by WorldNews 5 hours ago.

Italy clashes with EU over migrants stranded on rescue boat

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Italy's populist government said on Friday it would cut funds for the EU unless other states take in boat migrants stranded in an Italian port, earning a rebuke from Brussels for making unacceptable "threats". Reported by Reuters India 4 hours ago.

Italy PM slams EU's 'hypocrisy' on migrant ship, threatens action

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Prime Minister Giuseppe Conte on Friday accused Italy's European Union partners of "hypocrisy" after they failed to offer a solution to a migrant stand-off in Sicily, and said it would have repercussions for Italy's stance on other issues. Reported by Reuters 4 hours ago.

U.S. President Donald Trump's debt offer to Italy

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An Italian newspaper reported on Friday that Donald Trump offered to help fund Italy's public debt next year Reported by euronews 4 hours ago.

8 laws Italy may be violating by preventing Diciotti migrants from arriving

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Migrants onboard the Diciotti have been denied permission to disembark from the Italian port of Catania by Interior Minister Matteo Salvini. According to Italian lawyers and judicial members — the move breaks eight international laws. Reported by euronews 3 hours ago.

Italy clashes with EU over Diciotti migrant boat

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Italy was at loggerheads with EU states during a meeting it had hoped would solve its ongoing migration woes. Italy's prime minister said there will be consequences if the bloc doesn't help take in 150 migrants. Reported by Deutsche Welle 3 hours ago.

Australia's new anti-immigrant leader

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Matteo Salvini wants Italy to adopt Australia's harsh immigration policy against "boat people." Reported by euronews 3 hours ago.
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