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. It was at Jackson Hole in 2014 that Mario Draghi prepared the ground for the European Central Bank’s massive bond-buying programme to help rescue the economies of the eurozone, embattled from years of sovereign debt crises. ... [Read full article on Guardian ]
Sunday 20th of August 2017 12:03:19 PM
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.... QE was never particularly effective, was always fundamentally inequitable and has been left in place for too long. Central banks know this, which is why the US Federal Reserve will soon starting selling bonds and why the financial markets will be all agog for any hints from Mario Draghi at this week’s Jackson Hole get-together about when the European Central Bank might do the same. ... [Read full article on Guardian ]
Monday 21st of August 2017 05:44:24 PM
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....5tn of asset purchases (£3. 5tn) and the European Central Bank’s €2. ... [Read full article on Guardian ]
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Latest Finance News related to European Central Bank

Quantitative easing is a costly habit we should have kicked long ago | Larry Elliott image
.... QE was never particularly effective, was always fundamentally inequitable and has been left in place for too long. Central banks know this, which is why the US Federal Reserve will soon starting selling bonds and why the financial markets will be all agog for any hints from Mario Draghi at this week’s Jackson Hole get-together about when the European Central Bank might do the same. ...
Global investors look to Jackson Hole for signs of how QE will end image
Source : Guardian [Read Article] Sunday 20th of August 2017 12:03:19 PM
. It was at Jackson Hole in 2014 that Mario Draghi prepared the ground for the European Central Bank’s massive bond-buying programme to help rescue the economies of the eurozone, embattled from years of sovereign debt crises. ...
Holidaymakers urged to buy euros as pound set for PARITY against single currency image
Source : Daily Express [Read Article] Tuesday 15th of August 2017 03:25:00 PM
....The pound has slipped in recent weeks as the likelihood of an interest rate rise from the Bank of England appears to be fading. At the same time, the European Central Bank (ECB) is expected to start reducing its money-printing programme, which is helping to strengthen the euro. ...
Eurozone economy grows twice as fast as UK's, figures show image
Source : Guardian [Read Article] Tuesday 1st of August 2017 12:07:04 PM
.... But growth has slowed markedly since the turn of the year as a weaker pound has raised the cost of imports, pushed up inflation and squeezed consumers. In the eurozone, growth has quickened and unemployment has fallen against the backdrop of ultra-low interest rates and other measures by the European Central Bank (ECB) to boost activity. ...
Slow economic growth is not the new normal, it's the old norm | Larry Elliott image
.... Only in the US have interest rates been increased, and even there, the Federal Reserve is moving at a snail’s pace. The European Central Bank is not remotely close to tightening policy, nor is the Bank of Japan. ...
France isn’t heading for a belle époque, but its future looks better than Britain’s image
....But few analysts in the French financial services industry think the surge is more than a cyclical rebound. The return of business confidence follows Macron’s election, the absence of financial disasters inside the EU and the cheap money flowing out of the European Central Bank, which is having the same effect now on France that the Bank of England’s quantitative easing had on the UK economy in 2013. ...
10 years on from the credit crunch: share your memories image
Source : Guardian [Read Article] Thursday 27th of July 2017 09:02:05 AM
.... The FTSE lost 121 points that day, and in the US the Dow Jones average fell by 387. Central bankers became so alarmed by banks’ reluctance to lend to each other that they took emergency action; the European Central Bank and the US Federal Reserve injected a combined $90bn into financial markets. ...
Greece plans return to bond market as Athens sees end in sight to austerity image
....The interest rates on Greek bonds have fallen away from their sky-high levels at the height of the crisis following a broad recovery across the 19-member eurozone and Athens’ bigger than expected public sector surplus, fuelling hopes that the country could fund itself without the help of bailouts. Statements by the European Central Bank boss, Mario Draghi, have also appeared more supportive of southern European states, which remain highly indebted and are emerging only gradually from the after-effects of the financial crisis. ...
Greed is no longer good – bond boom comes to an end image
Source : Guardian [Read Article] Saturday 22nd of July 2017 07:00:32 AM
....That broke seven years of agreement among the major central banks to hold interest rates at near zero as a way to boost economic activity. The Bank of England, the European Central Bank and the Bank of Japan were still on board, but Janet Yellen at the Fed had broken away. ...
Britons travelling to Europe offered just €0.88 for £1 image
Source : Guardian [Read Article] Friday 21st of July 2017 06:31:18 PM
....41 for each pound. Sterling’s latest plunge against the euro has been blamed on Mario Draghi, head of the European Central Bank, who pushed the euro higher on the foreign exchange markets after saying that his governing council could soon start slowing the amount of money the bank will inject into the European economy. ...
Banks and companies plan expansion in Frankfurt after Brexit image
Source : Guardian [Read Article] Friday 21st of July 2017 05:53:07 PM
....Jobs leaving the City have so far been relatively limited, however, compared with the 751,000 people working in London in banking and related professional services. Frankfurt, home to the European Central Bank and the German Bundesbank, already hosts the biggest European operations of US investment banks outside London. ...
Shares in Asia head for 10-year high on back of US profit surge image
Source : Guardian [Read Article] Thursday 20th of July 2017 04:19:56 AM
....Shares in Asia have reached their highest point for nearly 10 years bolstered by a surge in stock markets around the world on the back of strong US corporate earnings. As investors awaited the European Central Bank meeting for clues on its policy outlooks, the MSCI’s broadest index of Asia-Pacific shares outside Japan added 0. ...
Dublin is streets ahead of EU rivals as City firms plan for Brexit relocation image
....Any boost to the financial services industry will be welcomed in a city still recovering from the banking crisis and property price crash a decade ago. The collapse of the economy went deeper than the UK, with house prices slashed by up to 70% and taxpayers left on the hook for toxic banking debt guaranteed by the state, which in turn was bailed out by the International Monetary Fund and the European Central Bank. ...
Central banks are ending policies like QE – but they'll be back | Nouriel Roubini image
....The US Federal Reserve started phasing out its asset-purchase programme (quantitative easing, or QE) in 2014, and began normalising interest rates in late 2015. The European Central Bank is now pondering just how fast to taper its own QE policy in 2018, and when to start phasing out negative interest rates. ...
France steps up effort to woo London banks planning Brexit move image
Source : Guardian [Read Article] Friday 7th of July 2017 02:05:15 PM
....”. The European Central Bank said last month that banks should speed up Brexit preparations, while the Bank of England wants to hear financial firms’ contingency plans by 14 July. ...
Ireland says dozen City firms and banks to set up in Dublin over Brexit image
Source : Guardian [Read Article] Thursday 29th of June 2017 05:09:09 PM
....“More than a dozen across the spectrum including more than one American bank have decided on Dublin,” Donoghue said. “A number of these groups have privately decided they have selected Dublin but won’t announce until they conclude discussions with the regulatory regimes in Britain, Ireland, the European Central Bank and regulatory authorities in the US. ...
Savings to finally be boosted as Mark Carney hints interest rates set to rise image
Source : Daily Express [Read Article] Thursday 29th of June 2017 11:11:00 AM
....The Monetary Policy Committee (MPC) - a body within the Bank who decide interest rate levels - would need to balance the trade off between encouraging growth and job creation in the economy with the demand to keep inflation at manageable levels. Mr Carney told the European Central Bank (ECB) forum in Sintra, Portugal, yesterday: "Some removal of monetary stimulus is likely to become necessary if the trade-off facing the MPC continues to lessen and the policy decision accordingly becomes more conventional. ...
Italy to wind up two failing banks at potential cost of €17bn image
Source : Guardian [Read Article] Sunday 25th of June 2017 05:14:25 PM
.... But it is not clear how many jobs will be lost, or how many branches Intesa could decide to close. On Friday, the European Central Bank ruled that the two lenders, based in the Veneto region of Italy, were “failing, or likely to fail”. ...
With politics turned on its head, Labour sticks to Brexit ambiguity image
Source : Guardian [Read Article] Sunday 25th of June 2017 01:05:57 PM
.... The problem they have is in explaining how this different Europe comes about, particularly given that the direction of travel for decades has been entirely in the opposite direction, towards a destination where budgets have to balanced, where countries have to deflate their way back to growth, where the nation state must bend the knee to market forces and competition and where neoliberal ideas hold sway. A Corbyn-led government could make a success of reform and remain, but only if it could win the support of the European Commission, the European Central Bank and a Council of Ministers, none of which are exactly awash with kindred spirits. ...
London could lose out as ECB seeks control of euro clearing after Brexit image
. London is facing renewed pressure over its dominance of the €1tn (£880bn)-a-day euro clearing market after the European Central Bank set out proposals aimed at giving it more oversight of the lucrative business. ...
Athens: thousands of public-sector workers march against austerity image
Source : Guardian [Read Article] Thursday 22nd of June 2017 06:41:34 PM
....Greece will initially receive about €7. 4bn, enabling the government to repay debts mainly owed to the European Central Bank. ...
The eurozone must reform or die | Kenneth Rogoff image
Source : Guardian [Read Article] Friday 16th of June 2017 05:00:00 AM
....Perhaps the small spread reflects investors’ belief that outright bailouts are eventually coming however much German politicians protest to the contrary. European Central Bank purchases of periphery countries’ debt already constitute an implicit subsidy and discussion of eurobonds is heating up with Macron’s victory. ...
Creditors agree terms to disburse Greece's €8.5bn bailout funds image
Source : Guardian [Read Article] Friday 16th of June 2017 12:05:16 AM
....Around €7. 4bn will be initially disbursed so that Greece can honour debt repayments that mature mostly to the European Central Bank. ...
Brussels plan could force euro clearing out of UK after Brexit image
Source : Guardian [Read Article] Tuesday 13th of June 2017 06:05:20 PM
.... Any “systemically important” business deemed to pose a potential risk to financial stability could be required to move to the continent. Technical experts at ESMA would make a relocation recommendation, with input from the European Central Bank, but the commission would take the final decision. ...
UK economy falls to bottom of EU growth league image
Source : Guardian [Read Article] Thursday 8th of June 2017 05:33:45 PM
....“But it’s not all bad news – this is as much a story about global strength as it is about downside risks to the UK, which should eventually support exports”. The European Central Bank was the latest body to raise its growth forecasts for the eurozone on Thursday after telling financial markets it had no plans to cut interest rates. ...
Markets edge down as fears surface on size of Tory majority image
Source : Guardian [Read Article] Thursday 8th of June 2017 04:46:15 PM
....38% to 7449. 98, as investors also digested the decision by the European Central Bank to rule out further interest rate cuts, and watched the US Senate testimony from ex-FBI director James Comey for any implications for the Trump administration. ...
Take a bow Mario Draghi – has the ECB chief saved the eurozone? image
Source : Guardian [Read Article] Thursday 8th of June 2017 02:21:01 PM
.... Take a bow Mario Draghi. Urged on by its proactive boss, the European Central Bank has achieved what looked impossible until recently: it has got the eurozone economy moving again. ...
ECB forecasts higher growth but keeps rates on hold image
Source : BBC [Read Article] Thursday 8th of June 2017 12:05:28 PM
. The European Central Bank (ECB) has increased its forecasts for economic growth in the eurozone but kept interest rates on hold. ...
Santander and RBS haunted by ghost of financial crisis image
Source : Guardian [Read Article] Wednesday 7th of June 2017 06:00:26 PM
....The deal took place hours before the markets opened on Wednesday after an eleventh-hour rescue deal put together by the eurozone’s new banking body, the Single Resolution Board (SRB). It was triggered by the European Central Bank, which had declared that Banco Popular was “failing or likely to fail” – the first time a eurozone bank had been given this classification. ...
Relieved RBS bosses should spare a thought for the claimaints image
Source : Guardian [Read Article] Wednesday 7th of June 2017 02:27:31 PM
.... A small, but potentially nasty, crisis has been averted by the bank agreeing to buy the “failing or likely to fail” Banco Popular, Spain’s sixth largest lender, for a nominal euro. For the European Central Bank and the newish Single Resolution Board, it’s a useful demonstration that a redesigned system for dispatching weak banks can do the job. ...
Pound V euro: GBP exchange rate against EU strengthens as Tories tipped to win election image
.... However the pound could plummet on Friday if Britain wakes up to find that the election has resulted in a hung parliament. Meanwhile the euro may tumble on Thursday as the European Central Bank (ECB) gathers for its latest monetary policy meeting. ...
Santander rescues rival Banco Popular from collapse image
Source : BBC [Read Article] Wednesday 7th of June 2017 06:32:55 AM
....1bn) - around 2bn euros more than analysts had expected. Banco Popular was described by the European Central Bank (ECB) as "failing or likely to fail" due to its dwindling cash reserves. ...
Greece warns recovery threatened if debt deal is blocked at next talks image
....But after more than eight hours of talks in Brussels, Greece’s creditors were unable to bridge their differences on the country’s ability to repay its debts in the long run. It was hoped agreement was within reach – one that would not only result in loan disbursements but open the way to a debt deal that would allow the European Central Bank to include Greece in its quantitative easing programme and so permit it to reaccess capital markets. ...
Brighter skies over eurozone as growth and employment pick up image
Source : Guardian [Read Article] Saturday 27th of May 2017 03:00:30 PM
....”. Cluse expects the pace of growth in the eurozone to ease off in the second half of this year as higher inflation erodes household spending power and the European Central Bank starts to hint at taking away some of the stimulus of its massive electronic money printing programme. ...
Former Anglo Irish chair Seán Fitzpatrick walks free as trial collapses image
....The sharp practices at the bank during the Celtic boom, when it became the major financier for overstretched Irish developers and investors playing the global property market, caused national outrage. At a time of austerity cuts and the country losing its financial independence in the IMF/European Central Bank bailout programme, the sight of billions of taxpayers’ money being used to save Anglo Irish provoked widespread public anger. ...
How can Macron unite Europe? He could start with its armies | Hans-Werner Sinn image
....Germany’s powerful constitutional court has already made it clear that eurozone bailouts and other interventions represent the outer limits of what is possible under the country’s basic law. The court may have deferred to the European court of justice on the question of the European Central Bank’s “outright monetary transactions” scheme, but it will not be able to do the same with respect to fiscal sovereignty, because the constitution is clear and the ECJ has no standing to interpret German constitutional law. ...
Global stock markets: what's driving the record rises – and will they continue? image
.... These small hikes have done little to halt a Wall Street rally and a pause is likely to be welcomed by investors. Meanwhile, the European Central Bank shows little sign of raising interest rates or halting its bond-buying programme anytime soon. ...
Greece will avoid default after bailout deal – but faces more austerity image
....Once debt relief was in place, Greece would aim to re-enter markets again, the government said. The European Central Bank has signalled it will include the country in its bond-buying programme if its debt becomes more manageable. ...
Greece reaches deal with creditors to pave way for bailout talks image
Source : Guardian [Read Article] Tuesday 2nd of May 2017 04:59:34 AM
....6bn) in July. Under pressure from its creditors – the European Union, European Central Bank and the International Monetary Fund – the government agreed earlier this month to adopt another €3. ...
German finance minister hails progress in Greek economic reforms image
Source : Guardian [Read Article] Sunday 30th of April 2017 04:21:39 PM
....In return for emergency funds, Alexis Tsipras’s leftwing government in Greece has agreed to swallow austerity demands but his popularity ratings have suffered as a result. Despite pressure from Germany, the International Monetary Fund has so far declined to join other international lenders – the European Central Bank and the European Union – in funding Greece’s third bailout, worth €86bn. ...
Can Emmanuel Macron solve France's economic riddle? | Larry Elliott image
Source : Guardian [Read Article] Sunday 30th of April 2017 10:23:32 AM
.... The abiding economic orthodoxy has held that low inflation should be the sole aim of macro-economic policy and should be achieved through control of the money supply; that fiscal policy - changes to tax and spending - is ineffective; and that the economy is a self-adjusting mechanism that will revert to full employment provided prices and wages are flexible. France, in other words, was not giving up anything of real value when it joined the single currency because all that was required was for the European Central Bank to keep inflation low and for politicians in Paris to embark on meaningful structural reform. ...
As wind, wave and shale power converge, could this be the end for Opec? image
....Europeans jetting off en masse at Easter helped boost holiday prices, and therefore inflation, across the eurozone this month. But Mario Draghi, the head of the European Central Bank, ignored the surge in an inflation rate of 1. ...
Eurozone inflation picks up to 1.9% image
Source : BBC [Read Article] Friday 28th of April 2017 10:13:23 AM
. Inflation in the eurozone accelerated in April, returning to the European Central Bank (ECB)'s target. ...
Eurozone recovery gathering pace, says Draghi image
Source : BBC [Read Article] Thursday 27th of April 2017 12:21:29 PM
. European Central Bank (ECB) head Mario Draghi has said the eurozone's economic recovery is "increasingly solid" and faces fewer risks. ...
Will London survive as a financial centre after Brexit? image
Source : Guardian [Read Article] Wednesday 26th of April 2017 07:08:45 AM
.... It was galling to have to acknowledge that the principal centre for trading in euro-denominated derivatives lay outside the eurozone. Just a few years ago, the European Central Bank tried to insist that the clearing of euro derivatives should take place within its jurisdiction, but was prevented from doing so by a ruling from the European court of justice. ...
Stock markets surge to new highs ahead of Trump's tax reform plan image
Source : Guardian [Read Article] Tuesday 25th of April 2017 05:35:25 PM
....”. There was also some nervousness ahead of the latest European Central Bank meeting on Thursday, with recent positive economic data from the eurozone prompting analysts to wonder if the bank would begin to call a halt to its economic stimulus measures. ...
Stock markets surge after French election result image
Source : Guardian [Read Article] Monday 24th of April 2017 09:34:27 AM
.... Although it came off its best levels, it was still up about 1% against the dollar and the pound as European markets closed. Sterling had its worst day against the euro since last October and analysts cautioned the currency was likely to remain volatile before the latest European Central Bank meeting on Thursday. ...
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
....As the union’s soft underbelly, Greece is unlikely to be spared. Entirely reliant on the European Central Bank for funding, its banks would automatically become the biggest transmission mechanism for a spreading crisis. ...
Low interest rates put global financial sector at risk, IMF warns image
Source : Guardian [Read Article] Thursday 6th of April 2017 02:30:06 PM
....25% last August, the lowest level in its 323-year history. The European Central Bank has adopted a similar approach and its president, Mario Draghi, has said there would be no early rate rise for the eurozone. ...
Up to 100,000 UK jobs at risk as Merkel and Juncker ally warns on euro clearing image
....London’s dominance in the sector has long been a source of contention within the EU, with the French government being particularly aggressive in attempts to get in on the trades. Britain fought a four-year battle in the courts to block an attempt in 2011 by the European Central Bank to require clearing houses with significant euro-denominated business to be based in the euro zone. ...
Eurozone inflation slows in March image
Source : BBC [Read Article] Friday 31st of March 2017 09:58:08 AM
....0% in February. The European Central Bank targets inflation of close to, but below, 2%. ...
Insurer Lloyd's of London confirms new Brussels subsidiary image
Source : BBC [Read Article] Thursday 30th of March 2017 06:28:20 AM
....Frankfurt has hit the ground running when it comes to wooing Brexit-bothered London bankers. It has a well-established financial infrastructure, is home to the European Central Bank and many banks already have a presence there. ...
Trump is wrong to criticise Germany over trade – he should look closer to home image
.... While Germany’s external surplus, at 8% of GDP, is big – too big – it is not the result of currency manipulation by Germany. The real culprits are an inflationary credit bubble in southern Europe, the expansionary policies of the European Central Bank, and the financial products US banks sold to the world. ...
Is being fined 1% of its profits just a mild irritation for BT? It looks like it | Stefan Stern image
....Some leading financial figures recognise the need for tougher regulation. “Excessive deregulation was among the causes of the global financial crisis,” said Mario Draghi, president of the European Central Bank, last week. ...
Wall Street’s love affair with Trump cools as healthcare bill sows welcome doubts image
.... The Federal Reserve, America’s central bank, has raised interest rates twice since Trump’s victory and will accelerate the pace of future increases if there is evidence that tax cuts are leading to wage inflation. Higher US interest rates at a time when no other major central bank – the European Central Bank, the Bank of Japan or the Bank of England – is contemplating a move will make it more attractive for investors to hold dollars. ...
Eurozone growth nears six-year high, survey data suggests image
Source : BBC [Read Article] Friday 24th of March 2017 11:16:57 AM
....". Economists said the PMI data could encourage the European Central Bank (ECB) to move towards raising interest rates and further easing its monthly bond-buying programme. ...
UBS charges customers to deposit euros image
Source : BBC [Read Article] Wednesday 22nd of March 2017 03:27:40 PM
....UBS already imposes charges for large accounts held in Swiss francs by companies and some wealthy clients. Banks' profits have been hit by the European Central Bank's policy of stimulating growth through negative interest rates and increased liquidity. ...
US raises benchmark interest rate by 0.25% image
Source : BBC [Read Article] Wednesday 15th of March 2017 06:29:37 PM
....Some economists think the next rate hike will be no earlier than June, given that the Fed probably wants time to assess the likelihood that Congress will pass Trump's ambitious program of tax cuts, deregulation and increased spending on infrastructure. Central banks in the US and Britain both have inflation targets of 2%, while for the European Central Bank the aim is "below but close to" that level. ...
Slow burn image
Source : BBC [Read Article] Wednesday 15th of March 2017 06:27:47 PM
ECB's Draghi says 'more optimistic' on the outlook for the eurozone image
. The outlook for eurozone growth is "more optimistic", the head of the European Central Bank (ECB), Mario Draghi, has said. ...
FTSE 100 dragged lower as Paddy Power Betfair shares fall image
Source : BBC [Read Article] Tuesday 7th of March 2017 09:33:52 AM
....37. "Markets remain becalmed for yet another day, hampered by a lack of data and a general wariness ahead of the ECB [European Central Bank] on Thursday, NFPs [US employment figures] on Friday and a Fed meeting next week," said Chris Beauchamp, chief market analyst at IG. ...
Eurozone inflation above European Central Bank's target image
Source : BBC [Read Article] Thursday 2nd of March 2017 11:32:34 AM
. Eurozone inflation has risen above the European Central Bank's (ECB) target rate for the first time in four years. ...
Greek debt: will EU and IMF finally offer light at the end of the tunnel? image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 07:00:27 AM
.... “The government is trying to save its image claiming that the policy mix is supposedly changing,” the Greek daily Ta Nea proclaimed from its front page. “But the only thing it has achieved is the pre-legislation of harsh measures that the troika [European commission, European Central Bank and IMF] will approve when it returns. ...
Paris, Frankfurt, Vilnius: how EU cities are vying for London's bankers image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:00:11 PM
....Frankfurt faces a similar problem. Home to the European Central Bank, the Bundesbank, the EU insurance authority and Germany’s financial regulator, it sees itself as a stable, sensible and respected European financial hub. ...
Greece standoff over €86bn bailout eases after Brussels deal image
Source : Guardian [Read Article] Monday 20th of February 2017 07:44:42 PM
....”. Officials from the European commission, the European Central Bank, the IMF and the European Stability Mechanism (EU bailout fund) will arrive in Athens “in the very short-term” to work with the Greek government on reforms to tax, pensions and labour markets, said Jeroen Dijsselbloem, the Dutch finance minister who chairs the Eurogroup. ...
‘From bad to worse’: Greece hurtles towards a final reckoning image
Source : Guardian [Read Article] Sunday 19th of February 2017 12:05:16 AM
Greece defies creditors over more cuts as economy shrinks unexpectedly image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:57:17 PM
.... The IMF has repeatedly said it will not sign up to the programme unless the crisis-plagued country is given more generous debt relief in the form of a substantial write-down. With Greece facing a €7bn debt repayment to the European Central Bank in July, fears of a Greek default have once again hit markets with shares falling and interest rates on Greek debt rising. ...
European commission upgrades growth forecast for UK economy image
Source : Guardian [Read Article] Monday 13th of February 2017 06:07:26 PM
....4% in 2018. The European commission vice-president said the return of inflation should be taken by policymakers as a sign the European Central Bank could not keep interest rates ultra-low and continue to print electronic money indefinitely. ...
Trump envoy says Greece is now more likely to leave the euro image
Source : Guardian [Read Article] Wednesday 8th of February 2017 03:10:19 PM
....In the third bailout in as many years, Greece has lost more than 25% of its GDP due to austerity-fuelled recession, the biggest slump of any advanced western economy in modern times. Without further emergency funding from its €86bn (£74bn) rescue programme, Athens could face a default in July when debt repayments of about €7bn to the European Central Bank mature. ...
Greece's debt costs rise sharply as worries grow over IMF role image
Source : Guardian [Read Article] Tuesday 7th of February 2017 06:26:16 PM
....The Washington-based fund has made repeated warnings that Greece’s debt burden of about €330bn (£280bn) is unsustainable despite the government pushing through spending cuts and tax increases that have badly hit popularity ratings for the government of prime minister Alexis Tsipras. The IMF declined to join other international lenders – the European Central Bank and the European Union – in funding the country’s third bailout, agreed in August 2015, and it is currently deciding whether to take part in a new chunk of rescue funds needed by mid-2018. ...
Greek debt crisis: an existentialist drama with no good end in sight | Larry Elliott image
....Navarro’s specific criticism about currency manipulation is wide of the mark. Germany is part of the eurozone and doesn’t always agree with the monetary policy decisions taken by the European Central Bank. ...
Grexit? Greece again on the brink as debt crisis threatens break with EU image
Source : Guardian [Read Article] Friday 3rd of February 2017 02:36:32 PM
.... “The IMF’s demands go beyond any democratic and constitutional logic and value,” he railed. Completion of the review is essential to Greece, exiled from international capital markets, being included in the European Central Bank’s 9 March bond-buying programme, key to the country regaining market access. ...
Trump’s trade advis​​er says Germany uses euro to 'exploit' US and EU image
....The comments sent the euro to an eight-week high against the dollar, and immediately drew a rebuff from the German chancellor, Angela Merkel. The euro’s weakness – and its move to near-parity with the dollar – has come after a period of low and even negative interest rates as well as a programme of monetary stimulus measures from the European Central Bank. ...
Greece has three weeks to deal with 'potentially disastrous' debt image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:07:40 PM
.... Short of debt re-profiling by EU member states, the board may decide the IMF cannot join the latest rescue progamme agreed with eurozone partners in 2015. If that happens, the European Central Bank would be unable to include Greek bonds in its bond buying programme, also seen as key to the country’s economic recovery as it would allow it to test its borrowing skills on international markets. ...
Frankfurt prepares for Brexit bankers: 'Maybe our city will change them' image
Source : Guardian [Read Article] Friday 27th of January 2017 07:15:19 AM
....”. With a shabby-chic interior that would not look out of place in Greenwich Village or Brick Lane, Vif offers quite a contrast to the stereotypical view of Germany’s banking capital (and home of the European Central Bank) as a dull, boring, grey-suited metropolis. ...

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