Driving the Day: 6/18/12
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Jun 18, 2012
Need to know…
- Greece’s New Democracy Party Wins Election. After weeks of uncertainty, Greece’s conservative New Democracy Party won the election yesterday 30% to about 27%, giving it the chance to form a new coalition government that would try to comply with the bailout terms. Party leader Antonis Samaras was due to meet Evangelos Venizelos, the head of the Socialist PASOK party today to discuss the daunting task of imposing punishing austerity measures in a near-bankrupt economy while containing rising social tensions.
- Bloomberg: U.S.-EU Free Trade Deal Can Jumpstart Economic Growth. A Bloomberg editorial out this morning says a U.S. and European Union trade deal “has the potential to jump-start economic growth and create millions of jobs ... A trade agreement is necessary, achievable and urgent.” The economic relationship between the U.S. and the 27 countries of the EU is the biggest in the world, accounting for close to one-third of all trade.
- Administration Announces New Immigration Policy. On Friday, the Obama Administration announced it would stop deporting many illegal immigrants who were brought into the country as children. The policy, which could affect as many as 800,000 immigrants, would allow those under the age of 30 who have lived in the U.S. for five years, have no criminal history and are in school, graduated from high school, or served in the military, to remain in the country. The Wall Street Journal reports that some small business owners are breathing easier now that the Department of Homeland Security says it will stop deporting younger illegal immigrants, and instead issue them work permits. Businesses say verifying the legal status of new hires is a costly, burdensome distraction.
- Supreme Court Health Care Decision Coming Soon. The Supreme Court is expected to deliver its health care ruling sometime in the next two weeks. The court has already added an additional day for announcements — Thursday, June 21 — in addition to the already scheduled dates of June 18 (today) and June 25.
Worth the read…
- The Hill Poll: Voters Fear U.S. Could Slip Into a Double-Dip Recession – The Hill
- Protectionism is Back – Tom Donohue, President and CEO of the U.S. Chamber of Commerce, and Dean Garfield, President and CEO of the Information Technology Industry Council via The Wall Street Journal
- IPO Barriers: The Three Big Hurdles Standing Between Main Street and Wall Street – The Washington Post
- Europe’s Darkest Cloud Hangs Over Italy – Fortune
- Entrepreneurial Training Programs For Unemployed On the Rise – Huffington Post
- A Double Crossing from Canada to Detroit? – Businessweek
- Small Banks Put Up ‘For Sale’ Sign – The Wall Street Journal
- Futures Fade As Enthusiasm Over Greek Vote Wanes – Reuters
- Rep. Roe’s Mission to Rescue Fellow Veterans from Trauma, Unemployment – The Hill