The first estimate for euro area exports of goods to the rest of the world in July 2022 was €235.5 billion, an increase of 13.3% compared with July 2021 (€207.8 bn). Imports from the rest of the world stood at €269.5 bn, arise of 44.0% compared with July 2021 (€187.1 bn). As a result, the euro area recorded a €34 bn deficit in trade ingoods with the rest of the world in July 2022, compared with a surplus of €20.7 bn in July 2021. Intra–euro areatrade rose to €224.8 bn in July 2022, up by 24.0% compared with July 2021
Geopolitics
+972 Magazine: ‘Legitimization Cell’: Israeli unit tasked with linking Gaza journalists to Hamas
Treating the media as a battlefield, a secretive army intelligence squad scoured Gaza for material to bolster Israeli hasbara — including questionable claims that would justify the killing of Palestinian reporters. Read Article HERE
Finance
Bill Mitchell – Shipping disruptions unlikely to precipitate another inflation surge
Both the Suez Canal and the Panama Canal – two of the world’s most important shipping routes – are “now under stress from various sources”. Published in Bill Mitchell’s blog. Read the article HERE.
Corruption
The Irish Times – EU: Banking regulator scores another own goal
Once again the dominance of lobbyists and corruption in the EU is made clear. Let us see how the plenary session votes. Read here
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