At an EU summit in Brussels Prime Minister Stubb has spoken out against suspending the EU’s cross-border programme with Russia in response to the Ukraine crisis. The project encourages closer trade and education ties between Finland and its eastern neighbour.
LONDON (Reuters) - The European Central Bank (ECB) on Thursday laid out plans to publish a trove of data on individual banks - ranging from measures of their leverage to a standard level of non-performing
The European Central Bank plans to limit the amount of data it carries over from its asset review into a subsequent stress test as it tries to manage the burden from an unprecedented health check of euro-area lenders.
PARIS--France's prime minister Manuel Valls said he wished the European Central Bank would carry out asset purchases to support the euro zone's economies and to bring down the value of the euro on currency markets.
A further slowdown in eurozone inflation in May was confirmed on Monday, as the cost of telecommunication and food kept prices low, confirming a problem that the European Central Bank recently sought to stem.
Consumer prices in 18 countries using the euro rose by 0.5 percent on the year in May, keeping them in the 'danger zone' of below 1 percent, the EU's statistics office Eurostat data said.
Prices fell by 0.1 percent on the month in May, with the cost of services down by 0.2 percent when compared with April.
The European Central Bank should consider a large-scale asset-purchase program, including buying sovereign bonds, if inflation in the euro-zone remains stubbornly low, the International Monetary Fund said on Thursday.
Athanasios Orphanides, leading academic macroeconomist and from 2007-12 Governor of the Central Bank of Cyprus, does not hold back in a recent paper. Here is just one quote:
“During the crisis, key decision makers exhibited neither political leadership nor political courage. Rather than work towards containing total losses, politics led governments to focus on shifting losses to others. The result was massive destruction in some member states and a considerably higher total cost for Europe as a whole. European institutions could have been the last line of defense against this destructive dynamic but instead served to facilitate and enable the destruction.”
His complaint will resonate with many from the smaller Eurozone economies. The text of the paper suggests that the way decisions are made in the Eurozone allows large countries to screw smaller countries, for short term economic gain, even if this damages the Eurozone as a whole.
The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.
Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield.
The Spanish economy has “turned the corner” but Madrid must do more to reduce unemployment and lower its debt burden, the International Monetary Fund says in its latest country report. “The recovery is clearly under way and, critically, labour
The outgoing center-left Slovenian government Thursday said it was halting all ongoing sales of state-owned companies until a new cabinet is formed after the parliamentary election in a week from Sunday. Calls for halting or scaling down privatization are dominating the ongoing election campaign.
FRANKFURT (Reuters) - European Central Bank President Mario Draghi faces a grilling after Thursday's policy meeting over forward guidance on interest rates after he hinted at a stronger message last week
The ECB has launched a raft of policy measures, but the calls for quantitative easing keep coming in, including from the IMF. The debate around QE could highlight a potential bind for the central bank.