The Economy and Energy Kickstart the Week

This week starts with the publication of the report on the Spanish economy published by the Bank of Spain, which will also release its macro projections for the second quarter. In the EU, Energy Ministers will meet for the reform of the electricity market, where they will try to reach a general orientation on the reform of the configuration of the EU market. All on a festive day in the US, Juneteenth, in which Wall Street will remain closed.

In the UK on Monday, the Royal College of Nurses have planned a day of action to boost support for the next strike ballot which will close later in the week.

His Majesty King Abdullah II of Jordan, together with Her Majesty Queen Rania, will be meeting with King Filipe in Madrid on Monday.

On Tuesday, Queen Sofia will attend the closing ceremony and concert of the 2022-2023 Academic Year of the music school which carries her name, as this week children across the country prepare to take a well-earned break from their studies to enjoy summer.

Of course, we mustn´t forget that Boris Johnson will be in the news on Monday, as MPs vote on the findings of the report that condemned him for deliberately misleading Parliament, which might be a welcome distraction to another former Prime Minister, David Cameron, as he is the first politician to appear before the Covid-19 inquiry as they look at how policies prior to the pandemic may have shaped the response.

Other key politicians will follow Cameron, but as for the science bit, Chief Medical Officer Chris Whitty and former Chief Scientific Advisor Patrick Vallance appear on Thursday.

As for the current Prime Minister, Rishi Sunak, his luck is in as whenever there is a crisis there is always Ukraine to deflect attention, and that will be the case this time when he hosts the Ukraine Recovery Conference on Wednesday and Thursday.

He might be less inclined to draw attention to the fact that on Wednesday, the latest inflation figures for the UK will be published, followed by a decision on Thursday by the Bank of England on interest rates, as the UK is still struggling with the cost of living crisis, made worse, according to the majority of financial experts, by BREXIT, which is also marked this week as Friday marks seven years since the UK held the referendum on EU membership.

Also in the UK this week, the Electoral Commission publishes a report on their analysis of how successful (or not) the implementation of the new voter ID rules have been. With some economists predicting a crash in the UK property market, it might be interesting to see the results of the UK House Price Index on Wednesday, but the day before, the ONS release their report on holiday homes in England and Wales.

Finally, the Prince of Wales turns 42 this week, and we mark the 75^th birthday of the modern computer. Celebrate either at your own will.

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