Calendar of Economic Events. Third Quarter of 2018

Jean-Claude Juncker, President of the European Commission, and US President Donald Trump were for the time being successful in preventing any further escalation in the trade dispute between the USA and Europe. The Economic Partnership Agreement between the EU and Japan was signed. According to IMF, World Bank and BIS, the high global debt level, an increase in interest rates, the economic crisis in Argentina and Venezuela, and growing protectionism in world trade combine to pose a risk for the global economy. The European Union rejected the UK proposals for regulating Brexit. The promises made by the new Italian government during the election campaign will result in exceeding the new debt limit agreed with the European Commission. The European Parliament voted to initiate an Article 7 process against Hungary for breaching the EU's core values by endangering the rule of law. – The Austrian National Council passed the Working Hours Act which ensures that employees need to work for an 11th and 12th daily hour only on a voluntary basis and must not be discriminated against for refusing to do so. The new law permits 12-hour working days and 60-hour working weeks as a maximum option.