Policy options open to the European Central Bank to rein in further increases in the value of the euro include cutting interest rates, signaling more quantitative easing or publicly advising against allowing it to rise, a tactic used by former ECB chief Mario Draghi. The euro has gained 10% in value since March, undermining attempts by ECB policymakers to stoke inflation. Bloomberg (tiered subscription model) (09 Sep.)
UK Northern Ireland Minister Brandon Lewis has acknowledged to a session of the UK parliament that the government's plan to change the terms of the Brexit transition deal made with the EU will breach international law. Theresa May, a former British prime minister, asked how the government could "reassure future international partners that the UK can be trusted to abide by the legal obligations of the agreements it signs?" Bloomberg (tiered subscription model) (08 Sep.)
The newest coronavirus aid proposal from Senate Republican leaders drops assistance for airlines and airports that was included in an earlier version. When the initial $25 billion of airline payroll support runs out this month more than 35,000 airline workers are on track to lose their jobs. Reuters (08 Sep.)
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