Review of financial and economic press: Moody's put Turkey’s rating on review for downgrade

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FAZ: The EU at a crossroads

Kerry: US-EU free trade area can compensate for the damage caused by Brexit

After the decision of the UK to withdraw from the EU Secretary of State John Kerry said the European Union has increased importance of the transatlantic trade and investment partnership agreements (TTIP). Speaking on Monday, July 18 at a meeting of EU foreign ministers in Brussels, Kerry said that the free trade agreement between the US and the European Union could serve as a counterweight to the negative economic consequences of Brexit. According to him, the US administration intends to reach an agreement with the European partners on this issue this year.

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Bloomberg: Moody's put the rating of Turkey on review for downgrade

International rating agency Moody`s Investors Service placed the long-term credit rating of Turkey to the list of downward revision after the country was in an attempted military coup, Bloomberg writes.

IMF: Inflation in Venezuela in 2017 could exceed 1600%

The rise in prices in Venezuela at the end of this year may reach 480%, and exceeded 1640% next year, writes the Wall Street Journal, referring to the International Monetary Fund (IMF).

Stabilization of the Greek economy

The Greek authorities intend to hold a series of major reforms in the autumn, according to the Ministry of Finance Euclid Tsakalotosa. "The Greek government will conduct major reforms in the autumn. six or seven bills will be introduced, which will help the development of the economy ", - he said after talks with European Commissioner for Economy and Finance Pierre Moscovici.

Bank of America's profit for the second quarter fell by almost 20%

The second-largest US bank, Bank of America (BofA), reported a drop in quarterly profit by 19.4%, Reuters reported with reference to the report of the bank.