Originally signed in July 2011, the ESM treaty was modified on 2 February by the eurozone’s countries ambassadors in Brussels. It establishes the European Stability Mechanism (ESM) as an international financial institution which aims to support euro area countries where indispensable to safeguard financial stability. More information: http://www.consilium.europa.eu/homepage/showfocus?lang=en&focusID=79757
DI - 31/1/2012
Issued on 30 January, this statement of the members of the European Council contains the EU leader’s commitment to strengthen European growth and competitiveness.
DI - 30/1/2012
The Green Economy Report –‘Towards a Green Economy: Pathways to Sustainable Development and Poverty Eradication’- is compiled by the Green Economy Initiative of the UN Environment Programme in collaboration with economists and experts worldwide. It shows that greening economies is a new engine of growth, a net generator of decent jobs and a vital strategy for the elimination of persistent poverty.
DI - 24/1/2012
The Council of the European Union adopted new sanctions on Iran at the 3142th Foreign Affairs Council meeting on 23 January. The document includes a ban on the import, the purchase and the transport of crude oil and petroleum products.
DI - 18/1/2012
This year’s edition of the WESP stresses that global economic growth started to decelerate on a broad front in mid-2011 and this slow growth is expected to continue into 2012 and 2013. The WESP report provides an overview of recent global economic performance and short-term prospects for the world economy.
DI - 23/12/2011
The UN Economic Commission for Latin America and the Caribbean projects growth of 4.3% for the region’s economy in 2011, lower than the rate in 2010 when the continent was rebounding from the impacts of the economic and financial crisis of 2008-2009.
DI - 19/12/2011
‘Women at the frontline of climate change - Gender risks and hopes’ is a new report of the United Nations Environment Programme, which focuses on women, gender issues and climate change.
DI - 14/12/2011
The documents adopted at the II Summit of the Heads of State and government of the Community of Latin America and Caribbean States (CELAC) -held from 2 to 3 December 2011 in Caracas (Venezuela)- include special declarations and communications on the defence of democracy and constitutional order of its members, the ‘Initiative Yasuní ITT’, the concerns on the global economic crisis and its effects on the region, and other regional issues.
DI - 12/12/2011
According to the 2011 edition of Social Panorama – issued on 29 November by the Economic Commission for Latin America and the Caribbean – ‘the poverty level will drop to 30.4% in 2011, while the indigence rate will increase slightly to 12.8% because the rise in food prices would counteract the predicted rise in household incomes’.
DI - 12/12/2011
The latest United Nations Climate Change Conference held in Durban (South Africa) ended with an agreement to start negotiations on a new accord that would put the 194 countries under the same legal regime enforcing commitments to control greenhouse gases.
DI - 30/11/2011
The 2011 edition of the International Labour Organization’s World of Work Report highlights that it will not be possible to recover successfully from the Great Recession unless social inequalities are addressed through well-designed policies.
DI - 28/11/2011
The 2011 edition of the Least Developed Countries Report –subtitled The Potential Role of South-South Cooperation for Inclusive and Sustainable Development- argues that the Least Developed Countries (LDCs) need to go beyond business as usual in order to promote inclusive and sustainable development and it examines how South–South cooperation could support such a transformational agenda.
DI - 24/11/2011
The European Commission adopted economic and budgetary recommendations which sets priorities for 2012 and includes new measures to reinforce eurozone financial governance and stability.
DI - 14/11/2011
‘Growth in the EU has stalled and it will take time to pick up again’, according to the European Commission’s latest economic prospects for the EU and the euro area at the aggregate level published on 10 November. A special chapter dedicated to developments in the labour markets, highlights that unemployment is forecast to remain at the currently high levels. More information.
DI - 11/11/2011
‘ICTs as an Enabler for Private Sector Development (PSD)’ is the sixth edition in a series of annual reports published by the UN Conference on Trade and Development. It shows that the potential of leveraging information and communication technologies (ICTs) to develop the private sector is far from fully exploited, and makes policy recommendations on how to remedy this situation.
DI - 8/11/2011
Published on 12 October, the 2011 edition of the Statistical Yearbook for Asia and the Pacific provides a snapshot of the region to decision makers, researchers and general public. It includes comparable, cross-sectoral statistical data and analyses on population, the environment, the state of the economy and connectivity for the region.
DI - 7/11/2011
The 9th edition -in a series of annual reports published by IFC and the World Bank- compares business regulations in 183 economies and measures regulations affecting eleven areas of everyday business activity.
DI - 7/11/2011
This report is part of the UN Environment Programme’s ‘Global Environmental Outlook-5’ (GEO -5) series, the UN’s most authoritative assessment of the state, trends and outlook of the global environment. It is conceived as a new compilation of statistical data which highlights the environmental changes that have swept the planet over the last twenty years. See more GEO-5 publications.
DI - 4/11/2011
The declarations and reports of the Cannes G20 Summit of the Heads of State and government held in France from 3 to 4 November include:
The Presidency Conclusions of the Brussels European Council -held on 23 October- stressed the importance of boosting sustainable and job-creating growth. It also set the EU’s position for the next G20 Summit and discussed the preparations for the Durban conference on climate change.
DI - 11/10/2011
This year’s edition of the State of the Food Insecurity in the World –subtitled ‘How does international price volatility affect domestic economies and food security?’- highlights the differential impacts that the world food crisis of 2006-08 had on different countries, with the small and import-dependent countries being most affected and specially vulnerable to poverty and food insecurity. It was produced by the three Rome-based agencies the UN Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP).
DI - 11/10/2011
According to the International Monetary Fund’s REO, the European economies face the prospect of a pronounced slowdown, as global growth has softened, risk aversion has risen and the pressure on Europe’s sovereign debt and financial markets have deepened.
DI - 3/10/2011
According to the September 2011 issue of the GFSR, ‘the risks to global financial stability have increased substantially in recent months, during which heavy public debt burdens and weak growth prospects in many advanced economies combined with a series of shocks to the global financial system’.
DI - 29/9/2011
According to this ECLAC's publication, the value of goods exported from Latin America and the Caribbean will grow by 27% in 2011 and the value of imports would increase by 23%, with the region accumulating a trade surplus of slightly more than 80 billion dollars by the end of 2011.
DI - 29/9/2011
The update of the ADB launched in April 2011expects developing Asia to sustain its growth over the next two years despite the moderate outlook for the US, Japan and the euro zone.
DI - 27/9/2011
‘While almost every country has high vulnerability in one major climate impact area, much damage caused by climate change is still readily preventable by a wide range of adaptation techniques’, according to the Climate Vulnerability Monitor developed by DARA and the Climate Vulnerable Forum.
DI - 21/9/2011
According to the World Economic Outlook (WEO) – released in September 2011-, ‘global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing’.
DI - 21/9/2011
‘As a Nation, we can live within our means while still making the investments we need to prosper’. This is the main idea of President Barack Obama’s message to the Congress of the United States.
DI - 19/9/2011
The EU Finance Ministers have reached an agreement on the six-pack draft legal acts (5 regulations and 1 directive) on economic governance. According to the ECOFIN, ‘the new rules will improve budgetary discipline in the Member States and strengthen stability of the EU economy’.
DI - 15/9/2011
The report released by the World Economic Forum highlights that Switzerland remains at the top of the ranking while Singapore overtakes Sweden for second position. The US continues its decline for the third year in a row running to fifth place. Spain's ranking goes up six places to 36th position, versus 42nd in the previous edition of the GCR.
DI - 14/9/2011
According to the staff statement of the SpainArticle IV Executive Board Consultation -concluded on 29 July 2011-,
the ‘outlook for Spain
remains difficult but country on the right track’.
DI - 12/9/2011
The 2011 edition of the Trade and Development Report focuses on the post-crisis policy challenges in the world economy, and highlights that the recovery is slowing down and that the “two-speed recovery” is mainly the result of wide differences in domestic demand.
DI - 1/8/2011
Remarks by the US President Barack Obama after the agreement reached by the leaders of the Democratic and Republican parties in the House of Representatives and the Senate that will reduce the deficit and avoid default.
DI - 26/7/2011
This year’s edition of the World Trade Report examines the growing number of preferential trade agreements (PTA’s) and describes its historical development and the current landscape of agreements.
DI - 22/7/2011
The Heads of State or Government of the 17 countries of the euro zone have agreed on a new rescue plan for Greece and changes to the European Financial Stability Fund, both aimed at stopping the spread of the debt crisis.
DI – 18/7/2011
This year’s edition of the ADO highlights the problem of tackling the rising consumer price pressure as an important challenge that developing Asia must resolve to sustain the inclusive growth needed to eliminate poverty in the region.
DI - 11/7/2011
The WESS 2011, subtitled The Great Green Technological Transformation, calls for a complete transformation of technology on which human economic activity is based, to meet both the objectives of conquering poverty and protecting the environment.
DI - 8/6/2011
Published on 7 June, the European Commission’s recommendations for each of the 27 EU countries offer guidance on 2011-2012 domestic budgets and economic policies. Also, as part of the first ‘European semester’, the EC has issued general recommendations for the euro area.
DI - 6/6/2011
Published in May 2011, the Regional Economic Outlook anticipates that Europe’s recovery will solidify. The report puts growth for the region at 2.4% and 2.6% for 2011 and 2012, respectively, after 2.4% last year.
DI - 1/6/2011
The final documents of the Deauville G-8 summit held in France from 26 to 27 May include: a ‘Renewed commitment for freedom and democracy’ (final declaration), the ‘Declaration of the G8 on the Arab Springs’, the ‘Deauville Partnership’ (helping the Arab countries in their transition to free and democratic societies) and the G8/Africa joint declaration.
DI - 1/6/2011
The fourth report in a series of the UNEP’s International Resource Panel seeks to apply the concept of decoupling economic growth and human wellbeing from negative environmental impacts and escalating resource use to address this challenge.
DI - 16/5/2011
According to the latest edition of this series issued by the UN Economic Commission for Latin America and the Caribbean (ECLAC) on FDI, ‘Latin American and Caribbean region showed great resilience to the international financial crisis and became the world region with the fastest-growing flows of both inward and outward foreign direct investment (FDI)’.
DI - 5/5/2011
Published by the staff of the Directorate-General for Economic and Financial Affairs in February 2011, the report provides the background to the programme of financial assistance agreed on 21 November 2010 and builds on the documents agreed upon with the Irish authorities.
DI - 28/4/2011
According to the latest edition of the World Bank China Quarterly Update, ‘China’s economic growth has remained resilient as the macro stance moved towards normalization’.
DI - 14/4/2011
Published in March 2011, this report of the Inter-American Development Bank highlights the definition of two different regional clusters in terms of opportunities and challenges ahead by the key structural characteristics of Latin America and the Caribbean countries in this new global economic environment.
DI - 11/4/2011
The Council of the European Union Decision 2011/210/CFSP on EU military operation in support of humanitarian assistance operations in response to the crisis situation in Libya (EUFOR Libya), issued on 1 April 2011.
DI - 6/4/2011
Published by the World Trade Organization (WTO), the ITS 2010 offers a comprehensive overview of the latest developments in world trade, covering the details of merchandise trade by product and trade in commercial services by category.
DI - 5/4/2011
It is a free, online, interactive tool of the World Bank, which maps and graphs more than 175 indicators from its development database. It also covered critical issues such as poverty, food production, population growth, climate change, international trade and foreign direct investment.
DI - 24/3/2011
Released in March 2011, the SOFA 2010-2011 highlights the significant contributions of women to the rural economy in all developing country regions. According to this, ‘increasing women’s access to land, livestock, education, financial services, extension, technology and rural employment would boost their productivity and generate gains in terms of agricultural production, food security, economic growth and social welfare’. Also available: executive summary.
DI - 22/3/2011
Published in March 2011, the second edition of the Strategic Trends series contains a global overview of the main strategic trends identified by the CSS, such as emerging markets and fractures geopolitics, the changing regional dynamics in the Middle East, terrorism and counterterrorism ten years after 9/11 and narcotics as a growing security concern.
DI - 14/3/2011
The Inter-American Development Bank’s Multilateral Investment Fund (MIF) has issued its latest report on remittances to Latin America and the Caribbean. According to these, remittances to the region ‘are likely to rise this year after stabilizing during 2010, although a weaker dollar and higher inflation are reducing their purchasing power in many countries’.
DI - 11/3/2011
The 8th edition -in a series of annual reports published by IFC and the World Bank- provides this year’s data and economy rankings for all 183 economies covered. It highlights that more than half the regulatory changes recorded in the past year eased business start-up, trade and the payment of taxes. New technologies are involved in many of this improvements.
DI - 7/3/2011
The European Union Economic Data Pocketbook collects economic data from different domains, covering the European Aggregates, EU Member States and its main economic partners. It focuses on the structural aspects of the EU economy and consequently, most of the data provided are annual, complemented by selected monthly and quarterly indicators.
DI - 1/3/2011
The World Economic Situation and Prospects report (WESP) provides an overview of recent global economic performance and short-term prospects for the world economy. According to this year’s edition, ‘weaker global growth is expected in 2011 and 2012 as multiple risks to the recovery remain’.
DI - 24/2/2011
The 8th edition of the UNEP report examines global emerging issues and provides the latest environmental science. It also highlights major environmental events and developments over the past year, and presents the most recent data and key indicator trends.
10/2/2011
Published in January 2011, this report of the Asian Center Studies of the Heritage Foundation sets out the main indicators of the Asian region’s economies, its political instability and the U.S. role in the area.
DI - 31/1/2011
The Council has implemented the 2011 ‘European Semester’ as part of a reform of European Union economic governance aimed at ensuring better-coordinated and more effective policies for sustainable growth.
DI - 25/1/2011
The World Economic Forum (WEF) has issued the latest edition of the Global Risks Report. The sixth edition identifies economic disparity and global governance failures as central risks in the global risks landscape. It also highlights three clusters of concern: the relationship between illicit trade, crime, corruption and state fragility; a set of interconnected risks tied to water, food and energy; and risks related to global macroeconomic imbalances. See also the Executive Summary.
DI - 24/1/2011
This year’s edition of the UNESCO Science Report shows that emerging economies are clearly gaining strength in science and technology while investment in R&D is growing globally. China, India and the Republic of Korea are leading the Asia’s share of gross domestic expenditure on R&D.
DI - 19/1/2011
The 2010 edition of the Statistical Yearbook for Latin America and the Caribbean is similar in structure to the 2009 edition and has no significant changes in terms of content or design. Published on 16 January, the yearbook is one of the main sources of statistical information in the region and covers demographic, social and economic issues. It also provides data on natural resources and the environment.
DI - 18/1/2011
The International Labour Organization (ILO) published the second in a series of ILO reports focusing on wage developments. Subtitled Wage policies in times of crisis, this year’s edition reviews the global and regional wage trends during the economic and financial crisis of 2008 and 2009.
17/1/2011
‘Led by developing countries, the world economy is moving on from a post-crisis bounce-back phase of recovery to slower but still solid growth this year and next’, according to the recent Global Economic Prospects issued by the World Bank on 12 January 2011.
DI - 11/1/2011
This Flash Eurobarometer 350 survey was conducted in the euro area and identified the opinions about the euro. The fieldwork was carried out in September 2010.
DI - 10/1/2011
According to the recent OECD Economic Survey on Spain, ‘the global crisis has been compounded by an unsustainable domestic demand domestic demand boom driven by residential and business investment, resulting in rising private sector debt’.
DI - 21/12/2010
Published on 15 December, this report presents an updated perspective of the United Nations on the new development paradigm that links the economy and culture. It recognises creativity, knowledge and access to information as powerful engines driving economic growth and promoting development in a globalising world.
DI - 13/12/2010
The Cancun agreements are the decisions and resolutions adopted by the COP 16 and CMP 6 at the UN Climate Change Conference held in Cancun (Mexico), from 29 November to 10 December 2010.
DI 10/12/2010
The joint publication by UNCTAD and the Japan External Trade Organisation (JETRO) aims to investigate the new economic realities in international trade after the 2008 financial crisis, and to highlight the issues that are key to the future of a pro-trade and pro-development international trading system.
DI - 2/12/2010
Issued in November 2010 by the UNEP and subtitled Are the Copenhagen Accord Pledges Sufficient to Limit Global Warming to 2°C or 1.5°C?, the report says that climate change represents one of the greatest challenges but also an outstanding opportunity to catalyse a transition to a low-carbon, resource-efficient Green Economy. It also informs governments and the wider community how far a response to climate change has progressed over the past 12 months, and thus how far the world is on track to meet wider goals.
DI - 30/11/2010
Prepared by the African Union (AU), the UN Office of the Special Advisor on Africa (UN-OSAA) and the Organisation for Economic Cooperation and Development (OECD), the study points out that global financial and economic crises exposed the African economies' dependence on too few export commodities and only one or two sectors.
DI - 19/11/2010
According to the 2010 CPI, Denmark, New Zealand and Singapore are tied at the top of the list, followed closely by Finland and Sweden. Somalia, Myanmar, Afghanistan and Iraq continue to have the highest levels of perceived corruption.
According to the latest edition of the World Bank China Quarterly Update, ‘China will continue to face (local and global) environmental sustainability challenges to meet the energy needs arising from rapid economic development’. The report provides updates on recent economic and social developments and policies in this country.
DI - 14/11/2010
This year’s edition of the Europe Regional Economic Outlook – subtitled Builging confidence- shows that the recovery in Europe continues, supported by strong policy action to contain sovereign debt problems in the euro area. It also sheds light on the governance issues revealed by the crisis, arguing that better policy frameworks, in particular at the euro area level, promise a stronger Europe.
DI - 5/11/2010
The 20th anniversary edition of the HDR examines decades of Human Development data trends, refines the original Human Development Index with new databases and methodologies, and introduces new measures adjusting the index to reflect gender disparities and other internal national inequalities. It also features the Multidimensional Poverty Index (MPI), which was developed by the Oxford Poverty and Human Development Initiative (OPHI) with UNDP support.
DI - 4/11/2010
This year’s edition of the Western Hemisphere Regional Economic Outlook –subtitled Heating Up in the South, Cooler in the North- emphasises how a slow recovery in the US and other advanced economies and the strength of Asia will shape the outlook for the various economies of Latin America and the Caribbean in a different ways.
DI - 3/11/2010
The 2010 Climate Action Report documents the major actions the United States is undertaking at federal level to address climate change, highlights examples of state and local action and outlines US efforts to assist other countries’ efforts to address climate change. The 2010 CAR is submitted as a formal national communication in accordance with Articles 4 and 12 of the UNFCCC.
DI - 29/10/2010
Conclusions of the meeting of Finance Ministers and Central Bank Governors held from 22 to 23 October in Gyeongju (Republic of Korea).
DI - 15/10/2010
This study of the African Union, the UN Office of the Special Advisor on Africa (UN-OSAA) and the OECD looks at how African governments can diversify their economies and begins by examining some of the major determinants of diversification and examines how the private sector plays a key role by being at the forefront of innovation, research and development and production.
DI - 8/10/2010
According to the World Economic Outlook (WEO) – released in October 2010-, the ‘global recovery remains fragile, because strong policies to foster internal rebalancing of demand from public to private sources and external rebalancing from deficit to surplus economies are not yet in place’.
DI - 28/9/2010
The 2010 edition of the Trade and Development Report, subtitled “Employment, globalization and development”, focuses on the need to make employment creation a priority in economic policy, and also makes recommendations for a reorientation of macroeconomic policies and institution building aimed at strengthening domestic demand
DI - 20/9/2010
The EUROSTAT Yearbook 2010 presents a comprehensive selection of statistical data on Europe. Most data cover the period 1998-2008 for the European Union and its Member States, while some indicators are provided for other countries, such as candidate countries to the European Union, members of EFTA, Japan or the U.S. This year’s edition spotlight chapter covers national accounts statistics – with a particular focus on the economic downturn observed during 2008-2009.
DI - 20/9/2010
The report released by the World Economic Forum highlights that Switzerland tops the overall ranking, while the U.S ranking falls two places to fourth position, overtaken by Sweden (2nd) and Singapore (3rd). The Spain ranking drops nine places to 42nd position versus 33rd in the previous edition of the GCR.
DI - 10/9/2010
According to the staff statement of the Spain Article IV Executive Board Consultation -concluded on 14 July 2010- ‘after 15 years of strong growth led by a housing boom, the Spanish economy has entered a sharp downturn in the wake of the global financial crisis since mid-2007’.
DI - 9/9/2010
The 41st edition of the annual statistical data of the Asian Development Bank (ADB) presents a special chapter on the Rise of Asia’s Middle Class. It looks at the growth and impacts of the region’s rapidly expanding middle class, and resulting economic and policy implications.
DI - 2/9/2010
This year’s edition of the World Trade Report examines the characteristics of trade in natural resources, the policy choices available to governments and the role of international cooperation, particularly of the WTO, in the proper management of trade in this sector.
DI - 5/8/2010
The sixty-second edition of the Economic Survey of Latin America and the Caribbean highlights that the region grow 5.2% in 2010 and is expected to expand only 3.8% in 2011 due to the uncertain outlook of the world economy, particularly in Europe.
DI - 3/8/2010
Released by the United Nations Food and Agriculture Organization (FAO), the report explores the challenges and constraints of the 21st century posed by the livestock sector cannot be solved by a single string of actions or by individual actors alone. The livestock sector requires appropriate institutions, research, development interventions and governance that reflect the diversity within the sector and the multiple demands placed upon it.
DI - 20/7/2010
According to this report of the World Bank, the EU’s newest member countries return to growth in 2010 but the rebound is fragile. Published three times a year The EU10 Regular Economic Report monitors macroeconomic and reform developments in the EU10 countries, and provides in-depth analyses of key policy issues.
DI - 27/7/2010
The 20th WIR –subtitled Investing in a Low-Carbon Economy- analyses the ways the participation of transnational corporations (TNCs) and the strategic use of foreign investment (FDI) can help developing and transition economies jump-start ‘low-carbon’ economic development. flows reacted to the current financial and economic crisis and the TNC’s and traditional investors affect agriculture in many developing countries.
DI - 14/7/2010
According to the latest Global Economic Prospects, ‘the global economic recovery continues to advance, but Europe’s debt crisis has created new hurdles on the road to sustainable medium term growth’.
DI - 2/7/2010
According to the recent report of the United Nations Economic and Social Council, ‘after six years of uninterrupted growth, the gross domestic product (GDP) of the Latin American and Caribbean region fell by 1.9 per cent and per capita GDP by 3.0 per cent in 2009’.
DI - 30/6/2010
The WESS 2010, subtitled Retooling Global Development, identifies the major global development challenges for the 21st century and suggest ways in which the mechanisms for global economic governance should adjust in order to face up to these.
DI - 28/6/2010
The conclusions and decisions made by the leaders of the G-20 at the Toronto Summit –held from 26 to 27 June 2010- are focused on recovery from the global economic and financial crisis and the implementation of commitments from previous G-20 summits, while laying the foundation for sustainable and balanced growth financial regulation, economic growth. See also the Principles for Innovative Financial Inclusion and the supporting documents from the International Monetary Fund and the World Bank.
DI - 25/6/2010
The recent report of the World Tourism Organization is focused on tourism as one of the world’s top job creators and lead export sector, especially for the developing countries, and its significant role in the achievement of the MDGs 1 (eradication of poverty), 3 (gender equality), 7 (environmental sustainability) and 8 (global partnership for development).
DI - 21/6/2010
The first Transnational Organized Crime Threat Assessment -published by the United Nations Office on Drugs and Crime- aims to fill a knowledge gap and pave the way for future world crime reports. The report analyses a range of key transnational crime threats like human trafficking, migrant smuggling, the illicit heroin and cocaine trades, cybercrime, maritime piracy and trafficking in environmental resources, firearms and counterfeit goods.
DI - 18/6/2010
The year edition of the Economic Development in Africa, subtitled South Cooperation: Africa and the New Forms of Development Partnership, argues that South–South cooperation has the potential to enhance Africa’s capacity to deal with the challenges of poverty and poor infrastructure, though the potential benefits of cooperation are not automatic.
DI - 18/6/2010
The EU Heads of State and Government adopted the new 10-year strategy for jobs and for smart, sustainable and inclusive growth at the meeting on 17 June in Brussels. Also, the document states that Iceland meets the political criteria for joining the EU and that membership talks should be opened. Regarding the enlargement of the eurozone, Estonia fulfils all convergence requirements and should be ready to adopt the common currency on 1 January 2011.
DI - 16/6/2010
‘Spain’s economy needs far-reaching and comprehensive reforms’, according to the Spain Article IV Executive Board Consultation published on 24 May 2010. It describes the preliminary findings of International Monetary Fund staff at the conclusion of their mission in this country, and identifies some severe challenges.
DI - 10/6/2010
In his speech at Bruegel (Belgium) on 2 June 2010, the Financial Secretary to the Treasury, Mark Hoban MP, states that the UK government backs global and European reforms that strengthen markets, promote confidence and transparency and produce better results for businesses and households.