The week started off with London mayor, Boris Johnson, joining Justice Secretary, Michael Gove, in the race for the Brexit (British Exit) of the European Union. The British currency has since taken a small ‘Pounding’ against the likes of the euro and US Dollar, correcting to levels around EUR 1.2664 and USD 1.388 respectively on Wednesday, 24/02/2016. Closer to home South Africa has been in the grips of student protests and a very safe budget speech was delivered by Finance Minister Gordhan. The short-lived strengthening of the Rand, to levels R15.07 against the US Dollar, was quickly ushered back up to R15.56 this week during the Budget Speech. Further east, the continuous cold-war between Japan and China over the Senkaku Islands and Diaoyu Islands has seen China deploying both fighter jets and surface-to-air missiles on Woody Island located in the South China Sea. In North America, Jeb Bush has dropped out of the Presidential Race while Donald Trump has taken an extremely strong lead in the Republican poll. As it stands, Trump has received 33.2% of Republican votes to date vs a distant second, Ted Cruze at 20.3%.
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European Economic Guide: Youth Unemployment 2016