The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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Australia's June home-building approvals fall 6.9%

The number of Australian home building permits fell sharply in June, damping what were encouraging signs that record low interest rates were boosting activity in a previously lackluster sector of the economy
Approvals to build or renovate houses and apartments declined 6.9% from May, the Australian Bureau of Statistics said
In May, approvals fell a revised 4.3% from a previously recorded 1.1% fall
The Reserve Bank of Australia has cut interest rates to record lows since November 2011 in a bid to revive activity in weaker parts of the economy like home building
The latest cut in May took the cash rate to 2.75%
Permits to build houses fell 1.2% from a month earlier, while approvals for apartments, townhouses and other dwellings fell 12.6% from the previous month

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