Eurozone finance ministers expressed concerns that the U.S. government’s embrace of cryptocurrencies could pose risks to Europe's monetary sovereignty and financial stability . Their worries come after President Trump signed an executive order to create a strategic reserve of cryptocurrencies using tokens already owned by the U.S. government, signaling a shift in policy from the previous administration. Key Takeaways: Policy Shift in the U.S. : The U.S. administration’s new stance on cryptocurrencies , especially dollar-denominated stablecoins , has sparked concerns in Europe. Trump’s move to embrace cryptocurrencies as part of the U.S. financial system contrasts with past U.S. policies, raising alarms about the impact on European financial stability. Impact on Europe’s Monetary Sovereignty : Paschal Donohoe , Chairman of the Eurogroup, highlighted that such developments in the U.S. could directly affect ...
Malaysia Budget for the Year 2015: “Accelerating Growth, Ensuring Fiscal Sustainability and Prospering the Rakyat” - Highlights
Prime Minister Datuk Seri Najib Razak unveiled Malaysia’s 2015 budget today, with an eyes on how the government plans to cut the fiscal deficit, bring down its own debt, piled up close to a self-imposed limit of 55 per cent of gross domestic product. The following are highlights of Najib’s ongoing speech to parliament: Government aims to lower fiscal deficit to 3.0 per cent in 2015 from an expected 3.5 per cent this year. 2015 budget allocates total RM273.9 billion, an increase of RM9.8 billion compared with the 2014 initial allocation. Operating expenditure RM223.4 billion, development expenditure RM50.5 billion. Payments to civil servants of RM65.6 billion is largest operating expenditure item. Federal government revenue collection estimated at RM235.2 billion in 2015, an increase of RM10.2 billion from 2014. Taxes Revenue from goods and services tax to be introduced in April at rate of 6 per cent expected to be RM23.2 billion, but after allowing for the abolition...