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Ignazio Angeloni heads the financial supervisory authority setup by EU leaders in 2013 inside the European Central Bank. The NYT's Danny Hakim's interview with Angeloni on the task facing Angeloni and the ECB as it takes on supervision of all EU banks.

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About 700,00 depositors in Spain's banks, including Bankia and regional banks, converted their deposits, including life savings, into high yielding preferred shares in the last decade. The banks raised about 22 billion euros to help recapitalize. The sharp decline in value of the shares made it impossible for depositors to resell them. After the eurozone crisis with EU aid to Spain to recapitalize banks, the EU stated the depositors would have to take some losses. Now the two main parties, the Socialists and the Partido Popular are passing legislation to compensate the depositors after angry protests throughout Spain. Banks will use part of the 37 billion euros of loans from the EU to settle the arbitration cases.

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The German government under Chancellor Merkel and the German public's preference for continuity and continuing the course Germany is in at this time. This is to continue the export emphasis for as long as possible to countries like China and India, which neede the machinery Germany makes. Exports makeup 47% of German GDP, the highest of large industrialized countries. German industries are being assisted by the government to keep employees and tide over the transition period as markets in Aisa and emerging countries stuggle to recover form the economic crisis. GErman industries in chemicals, automobiles, and machinery are feeling the change and are scaling down and moving to other countries where its advantageous to manufacture. The alternative of promoting entrpreneurial sectors such as software and computers has not met the same degree of success as building a large solar energy industry, in which Germany is taking a leadership role.

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How the high unemployment rate is hurting affluent suburbs like Bloomfield Hills, Michigan, which are losing population, and schools lack funding. Michigan has the highest unemployment in the country at 11.2%, and the economy has contracted every year since 2005. And the decline is expected to accelerate this year according to the chief economist of Comerica Bank.

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Hillary Clinton's estate tax plan would increase the estate taxes on the largest estates from 40% today and her proposed 45% to the higher figure of 65% proposed by Senator Bernie Sanders. Compared to the current $5.45 million exemption only the first $3.5 million would be exempt from estate tax for individuals ($7 million for a married couple). The top rate of 65% would apply to individuals with over $500 million. Beyond $10 million a 50% rate, and beyond $50 million a 55% rate.

The latest proposal adds $260 billion over 10 years adequate to pay for simplified small business taxes, and for expanding child tax credit.  Over 10 years Clinton would increase taxes by $1.5 trillion to pay for expanded education assistance, paid family leave and other programs. She would increase federal revenue by 4% and have the burden fall on only a small portion of households.

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Efforts to close the route used by migrants on Panama's border with Columbia which is now the real US Border in the South. At this border migrants make their way through jungle called the 70 mile Darien Gap to reach buses taking them to Mexico.