Erdogan's Powers, Draghi's Confidence, China Inflation: Eco Day

(Bloomberg) -- Happy Tuesday, Europe. Here’s news from Bloomberg Economics to help get your day started:

  • Turkey’s President Recep Tayyip Erdogan issued a decree empowering him to name the head of the central bank as well as deputy governors -- just hours after naming his son-in-law as finance minister
  • Britain’s Theresa May dodged immediate danger as she fought to stave off a full-blown crisis after three ministers quit to protest her Brexit plan. Here’s how it could impact her economy
  • Our analysis shows the U.K.’s GDP reporting shake-up will likely show the economy is on track to rebound in the second quarter. Meanwhile, excitement about the World Cup is boosting consumer spending
  • Mario Draghi reckons that euro-area inflation can stay on the right path, striking a confident tone that the ECB can withdraw its stimulus despite global risks
  • China urgently needs to build on its opening to outside investors by releasing a clear timeline for reform, says the European Union Chamber of Commerce in China
  • In contrast, German Chancellor Angela Merkel praised China’s opening up to foreign investment, following her meeting with Premier Li Keqiang
  • On the data front, China’s factory inflation accelerated in June as the price of commodities held up
  • And if you missed it, this chart shows why some think that an IMF bailout for Pakistan is only a matter of time

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