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Finance

Finance

The European Council meeting held on June 28 and 29 took some steps toward euro reform; conclusion of agreements will likely occur at the next meeting in December. Although it was hoped that the summit would address key questions like the budget proposed by Germany and France, ultimately the European partners chose to adopt a minimum agreement. The agreement includes measures such as support for a banking resolution fund, but the reform of the euro was deferred.

After the bare minimum agreement on the banking union achieved at the recently held European Council, the debate about the future of Europe continues unabated. With this agreement still fresh, the Bank of Finland invited scholars, representatives of the financial sector and regulators talk about the future of the Old Continent. The experts gathered in Helsinki called for advancing towards a greater banking and capital markets union. The next date in the calendar: The European Council meeting in December.

The Council of Europe will hold its June summit at a complex time with significant challenges on economic, political, and social issues. As BBVA Research points out, it also represents an opportunity to further strengthen the EU's Economic and Monetary Union. As such, the reform of the euro will be one of the decisive elements, although also one of the most controversial.

According to RealtyTrac, as of April 2018, there were more than 600,000 properties in the U.S. in some stage of foreclosure. While the numbers of foreclosed homes are significantly lower than at the peak of the U.S. Housing Crisis, with more than a half million lender owned homes on the market, buyers still have a solid opportunity to find a good deal.