The debate over Britain’s exit from the European Union, so far, has focused largely on the economic impact on the U.K. itself. That reflects not only the fact that it is British voters who will decide whether the U.K. remains a member of the European Union in the June 23 referendum but also an assumption that it is the U.K. that has most to gain or lose, The Wall Street Journal reported. The impact of Brexit is already being felt. As the polls have narrowed in recent weeks, sterling has weakened relative to the dollar, reflecting market concerns that investment and trade will suffer.

Even though new insolvency administration legislature has been introduced, there's "a lot to be done" in order to avert its shortcomings, Zlata Elksniņa-Zaščirinska, head of the Foreign Investors Council in Latvia (FICIL), told Latvian Television Wednesday. The FICIL on Wednesday published an insolvency abuse report saying that even though legislature has been pushed through compliant to the requirements of the Organization for Economic Cooperation and Development, the overall situation in insolvency administration has not improved.

Icelandic Prime Minister Sigmundur David Gunnlaugsson resigned Tuesday, becoming the first major casualty of renewed global scrutiny into offshore accounts sparked by millions of documents allegedly leaked from a Panamanian law firm, The Wall Street Journal reported. Mr. Gunnlaugsson left office amid growing popular uproar in his small island nation over his not disclosing links to an offshore company in a Caribbean tax haven. After a meeting with Mr.

The Bank of England will look again at how much capital it requires banks to hold as insurance against swings in the economic cycle after the vote on Britain’s membership of the EU, the Financial Times reported. The decision is the latest sign of authorities’ nervousness about the financial stability risks posed by the vote. In March, the BoE said it was preparing to flood the market with money around the June 23 poll to protect British banks from any chance they could run out of funds.

China is cutting back on mining machinery as its economy slips. The United Arab Emirates and other Middle Eastern countries are no longer awash in oil money, putting luxury car brands at risk. Russia, still facing Western sanctions, cannot buy as much high-tech energy equipment, the International New York Times reported. The downshift in the emerging markets is leaving Germany vulnerable — and, by extension, Europe.

One of the biggest steelmakers in Britain, second in size only to Tata, has said there is no guarantee that the industry will survive if the government fails to step up its response to the current crisis, The Guardian reported. As the business secretary, Sajid Javid, prepared to travel to Mumbai for talks with the Indian multinational, the managing director of Celsa UK, Luis Sanz, asked why the British arm of his company was paying twice as much in electricity costs and eleven times as much in business rates than its operations in France and Spain.

Eurozone government borrowing costs fell to a five-week low on Monday, as investors increase bets that a massive new round of monetary stimulus by the European Central Bank will not be enough to revive inflation amid a slump in oil prices, the Financial Times reported. The yield on 10-year German Bunds, a proxy for the wider European bond market, rekindled its race towards zero, dropping to 0.12 per cent, the lowest level since late February.

Paris and Berlin are pressing industrialised nations to pull together a common blacklist of territories that breach transparency standards, in the toughest government responses yet to the Panama Papers affair, the Financial Times reported. Wolfgang Schäuble, Germany’s finance minister, and Michel Sapin, his French counterpart, also emphasised the need for sharing and publishing the names of the ultimate beneficiaries of all corporate structures, including shell companies, trusts and foundations that can offer anonymity to their users.

Germany believes it is realistic to expect the review of the bailout program between international creditors and Greece to be concluded by the end of April or early May, Germany’s finance ministry said Monday, reiterating that a Greek debt write-down currently isn’t an issue for Berlin, The Wall Street Journal reported.

As British Prime Minister David Cameron scrambles to try to save the U.K.’s largest steel plant, an uncomfortable spotlight has focused on his government’s opposition to a move that the steel industry says would strengthen the European Union’s defenses against the cheap Chinese steel flooding European markets, The Wall Street Journal reported. The government already faces accusations by opposition politicians and unions that it has been slow to react to a crisis engulfing British steelmaking.