Christine Lagarde’s peace at risk as European Central Bank split over virus plan September 28, 2020 European Central Bank (ECB) policymakers are increasingly divided over how to steer the economy through a second wave of Covid-19, threatening President Christine Lagarde’s hard-won peace, Reuters conversations with eight ECB insiders show. Lagarde has managed to end the public infighting that left the ECB in disarray in the final months of Mario Draghi’s tenure [...]
ECB ‘working on lending scheme’ for small businesses hit by coronavirus March 3, 2020 The European Central Bank is reportedly working on measures to provide liquidity to businesses hit by the economic impact of the coronavirus outbreak. Measures being considered by the ECB include a targeted longer-term refinancing operation directed at small and medium-sized firms, which could be hardest hit by a virus-related downturn, sources familiar with the discussion [...]
EU calls for European to replace Lagarde as IMF boss July 8, 2019 Top EU officials have called for a European candidate to replace Christine Lagarde as head of the International Monetary Fund (IMF), with the Netherlands launching a bid to fill the post. The IMF is seeking a replacement for Lagarde, who was nominated by EU leaders last week as the next president of the European Central [...]
DEBATE: Is Christine Lagarde a smart pick to take over from Mario Draghi at the European Central Bank? July 4, 2019 Is Christine Lagarde a smart pick to take over from Mario Draghi at the European Central Bank? Yes, says Pierre Ortlieb, an economist at OMFIF Christine Lagarde’s tentative appointment reflects the challenges that the ECB will face in its third decade. Post-crisis unconventional monetary policy and the Bank’s prominence in the continent’s capital markets have [...]
Mnuchin says US-China trade deal could be sealed within two rounds of talks April 29, 2019 US treasury secretary Steven Mnuchin said today that he hopes the United States and China can reach a trade deal using two more rounds of talks. Read more: US trade deficit shrinks as exports to China surge Mnuchin told Fox Business Network that within the next two rounds of discussions it will become clear whether [...]
Bitcoin critic warns central banks ‘risk financial stability’ by issuing digital currencies March 22, 2019 A prominent bitcoin critic has warned central banks against issuing their own digital currencies. Read more: JP Morgan launches its own cryptocurrency Augustin Carstens claimed central banks issuing digital tokens would need to take on customer-facing tasks that would result in “huge operational consequences for central banks in implementing monetary policy and implications for the stability [...]
Bank for International Settlements warns central banks over risk posed by cryptocurrency exposure March 13, 2019 The Bank for International Settlements (BIS) has warned banks that cryptocurrencies could pose a risk to financial stability. The BIS Basel Committee, which sets regulatory standards for central banks, said the growth of crypto asset trading platforms and new financial products could increase the risks faced by lenders. Read more: Most UK consumers unable to [...]
The left should listen up: Tax reform is a progressive cause March 13, 2019 In 2012, the columnist Mary Dejevsky wrote a piece for the Independent arguing that the centre-left should advocate a flat tax. It was in response to the publication of the Single Income Tax, the final report of the 2020 Tax Commission, convened by the TaxPayers’ Alliance (TPA) and the Institute of Directors, and chaired by former [...]
ECB Headwinds, IMF downgrade for Europe – What Can We Expect from 2019? January 25, 2019 | City Talk This week bankers and leaders around the globe have come together for the World Economic Forum in Davos. A key topic has been what we can expect from 2019 and beyond, in the face of a global slowdown, climate change, the US shutdown, trade wars and Brexit. On top of that, the ECB revealed that [...]
Editor’s Notes: Davos – a festival of irrelevance and hypocrisy January 25, 2019 Davos brings the same delights every year. From the press release about the number of private jet movements to Oxfam’s annual criticism of the global super-rich, there are predictable elements to this week-long event. Another thing you can always be assured of is that some staggering hypocrisy will be on display. I came across a [...]