The head of the European Central Bank says the economy in the 19-country eurozone is not showing signs of a rebound and urged governments to help by spending more on top of the central bank’s latest package of stimulus measures.
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.
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 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: 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
Content: Clown protesters mock Finland’s xenophobic ‘Soldiers of Odin’; The European Central Bank saves the stock markets for another day
Contents: France-Germany split over 3-day ultimatum to Greece leads to flared tempers; Eurogroup imposes harsh demands on Greece to remain in eurozone; China police crack down ahead of another volatile week in stocks
ISIS claims responsibility of major terrorist attack in east Afghanistan; Afghanistan becomes more ungovernable as US-led coalition withdraws; Greece scrapes the bottom of the barrel as bankruptcy talk increases
The European Central Bank (ECB) gave the Left and their allies meeting in Davos, Switzerland, everything they could have hoped for with the announcement that they have agreed to print $1.13 trillion of new cash to buy the national debt of their insolvent members. But “hidden within the announcement is evidence of Germany’s weakening commitment to the European project,” according to Stratfor.
The long expected decline in the euro means a happy new year for British holiday makers looking to jet off for a few days to the Continent: but our payments to the EU budget won’t be falling despite the more
