The eurozone economy received a double dose of bad news Monday as inflation fell further away from the European Central Bank’s target and a closely monitored survey showed the crucial manufacturing sector shrinking at its fastest rate in six years.
European Union officials have slashed their growth forecast for the 19 countries that use the euro, saying even the lower estimate was vulnerable to “large uncertainty” from slowing growth in China and weakening global trade.
FRANKFURT, Germany (AP) – European Central Bank head Mario Draghi on Thursday issued a darker outlook for the region’s economy and said the bank is ready to use all its monetary levers in case the slowdown takes a turn for the worse.
The Bank of England’s reputation has taken a severe hit as previously unreleased minutes reveal staff knew their dire “No Deal” Brexit predictions “could be misleading” and “against [the] public interest.”
BRUSSELS (AP) – Economic growth across the 19-country eurozone slowed in the third quarter to its slowest level for over four years, official figures showed Tuesday, in a development that’s likely to stoke worries about the impact of rising trade
The 19-country eurozone economy lost momentum in September despite a resilient performance by the services sector in Italy, according to a closely watched survey released Wednesday.
The Single Supervisory Mechanism, the European Central Bank’s financial watchdog, has become concerned about the knock-on effects the fall of the Turkish lira will have on some of Turkey’s European lenders after it experienced one of the biggest one-day falls of any free-floating currency in 20 years.
COPENHAGEN, Denmark (AP) – The Latvian member of the European Central Bank’s top policymaking board has rejected charges of bribery. Latvian broadcaster LSM cites Ilmars Rimsevics, head of the Baltic country’s central bank, as saying: “I completely deny all these
The European Central Bank is preparing for a so-called ‘hard Brexit’ with the UK falling out the European Union (EU) with no ‘transitional arrangement’ in place.
Contents: Greece’s parliament raises taxes, cuts pensions to satisfy lenders; Germany’s government blocks debt relief for Greece, despite new austerity measures
Contents: Grexit risk: Greece may refuse a new round of austerity; Greece will evacuate 75,000 people in Thessaloniki to defuse WW II bomb
Contents: Bank run worsens Italy’s banking crisis; Following the money, Sao Tome and Principe switches allegiance from Taiwan to China
Contents: Italy announces bank bailout that will ‘bail in’ ordinary depositors; European officials refuse to unblock the next bailout loan to Greece
Contents: Egypt’s Christians demand revenge after Sunday’s church bombing; Italy’s bank crisis seems likely to cost thousands of people their savings
LONDON (Reuters) – Financial institutions based in Britain will lose so-called passporting rights allowing them to operate across the European Union unless post-Brexit Britain is at least part of the European Economic Area, ECB policymaker Jens Weidmann has said. “Passporting
THESSALONIKI, Greece (Reuters) – A rift between the International Monetary Fund and the European Union on how to address Greece’s debt crisis is damaging for the country, Prime Minister Alexis Tsipras said on Sunday.
Contents: Portugal and Spain will not be fined for breaching deficit rules; Italy’s Monte Paschi bank gets 5 billion euro bailout from other banks; Earnings fall, but central bank liquidity floods markets, pushing up stocks
The European Central Bank is running out of well-performing German bonds to buy, which could usher in a new banking crisis for the European Union (EU).
(REUTERS) – Britain must respect all EU rules if London aims to keep access to the bloc’s financial markets after it leaves the European Union, ECB governing council member Francois Villeroy de Galhau said on Wednesday. Speaking at a financial
Contents: Italy bank crisis more dangerous to EU than Brexit; EU Banking Union rules were a reaction to Greece’s financial crisis
Breitbart News correctly predicted that if the British peopled voted for “Brexit,” that would cost the UK its AAA credit rating. And our other prediction — that the British would be better off leaving the EU — is also looking good.
Contents: Nationalistic tensions increase as UK and EU drift towards Brexit; Japan’s government calls emergency meeting as yen surges after Brexit; Israel and Turkey announcing a reconciliation agreement on Monday
Contents: Successful ‘Brexit’ referendum vote throws UK and EU into political chaos; Global stock markets plummet after Brexit surprise
LONDON (Reuters) — Eurozone governments have eased up on efforts to overhaul their struggling economies because the ECB’s ultra-easy monetary policy has pushed their borrowing costs to record lows, ratings agency Standard & Poor’s said on Tuesday. Speaking in London,
The European Central Bank has become too powerful, but largely because politicians have foisted an increasingly political role onto it, one of the German government’s key economic advisors said in a newspaper interview Sunday. “The ECB has gained enormous power,
The German government is blocking a Greek bailout in fear of being democratically replaced by the populist, Eurosceptic Alternative for Germany (AfD) Party. In “AfD is the major hurdle in the Greek bailout”, Die Welt’s deputy economics editor, Jan Dams, has
Contents: North Korea liquidates all commercial projects with South Korea; In desperation move, European Central Bank further lowers negative interest rates; ECB tries to target the velocity of money
BERLIN (Reuters) – The euro zone needs to press ahead with structural reforms and closer integration, including an euro zone finance ministry, to deliver sustainable growth, the heads of the French and German central banks wrote in a German newspaper
Generational Dynamics, Japan, Bank of Japan, BOJ, Haruhiko Kuroda, European Central Bank, ECB, Swiss National Bank, SNB,, Sweden, Denmark, negative interest rates, quantitative easing, QE, Ben Bernanke
Content: Clown protesters mock Finland’s xenophobic ‘Soldiers of Odin’; The European Central Bank saves the stock markets for another day
