Draghi: Ukraine crisis a threat to the Eurozone economy August 7, 2014 Mario Draghi, president of the European Central Bank (ECB), today admitted that the Ukraine crisis represented a threat to the Eurozone economy. The geopolitical concerns surrounding the Ukraine crisis and in particular the import ban imposed by Russia, were highlighted as a potential risk to European economic outlook by Draghi, but he insisted that [...]
ECB keeps interest rates at record low August 7, 2014 The European Central Bank (ECB) has left interest rates at their current record low of 0.15 per cent. The move was widely in line with expectations, as the ECB has been keen to leave time to analyse the impact of the measures announced in June. Eurozone inflation slipped to 0.4 per cent in July, its [...]
Draghi speech gets credit for bond yield dip August 5, 2014 MARIO Draghi’s famous “whatever it takes” speech and other market-soothing interventions had a major effect on the cost of servicing debt for some of the Eurozone’s struggling finance ministries, according to research released yesterday. A working paper from the European Central Bank (ECB) itself says that the announcements cut two percentage points from two-year Italian [...]
Francois Hollande calls on ECB to fight deflationary risk in Europe August 5, 2014 French president Francois Hollande has implored the European Central Bank (ECB) to do more to support growth and employment and combat a "real deflationary risk" in Europe. In an interview with LeMonde, Hollande argued that "weak inflation too has negative fiscal consequences on revenues as well as debt. A lot will depend on the level [...]
Update: Blackmailer hacks ECB website, steals email addresses and contact details July 24, 2014 The European Central Bank (ECB) has had its website hacked, with sensitive personal information including email addresses and contact data stolen. The ECB received an anonymous call on Monday night requesting money in return for the stolen data. The bank didn't say how much the blackmailer asked for, but did say that it refused to [...]
ECB will give Eurozone banks just two weeks to devise plan to get their houses in order July 17, 2014 The European Central Bank (ECB) will give Eurozone lenders just two weeks to come up with plans to deal with any capital shortfalls after it completes a review of the currency union's most important banks this autumn. In an update of its plans as it prepares to conduct stress tests of the Eurozone's 128 largest [...]
Mario Draghi says QE “falls squarely” in European Central Bank mandate July 14, 2014 Mario Draghi is doing more scene-setting work for full-blown quantitative easing. Speaking to EU politicians today, the European Central Bank (ECB) president said that QE "falls squarely" in the central bank's mandate. Draghi's comments come as the International Monetary Fund today did all but outright say that the ECB should begin to engage in asset [...]
Euro central bank boss Mario Draghi rejects Renzi reforms for deficit rules July 9, 2014 EUROPEAN Central Bank (ECB) chief Mario Draghi weighed in on the debate over Eurozone deficit reduction yesterday, slapping down Italian Prime Minister Matteo Renzi’s push for a more lenient approach. Speaking in London yesterday, Draghi stressed the importance of sticking to the currency bloc’s existing fiscal rules. Recently, Renzi and other European politicians had suggested [...]
UK vs ECB: Britain squares up to Eurozone in legal battle for City’s rights July 9, 2014 British lawyers accused the European Central Bank (ECB) of breaking the single market rules in a landmark case yesterday. By insisting euro-denominated payment transactions are cleared within the Eurozone, the ECB is breaking the law, the Treasury argued. The UK complained in 2011 but it has taken until now to reach the European Court of Justice [...]
Boosting investment is “only way out” for Europe – ECB’s Coeure July 6, 2014 Governments must do more to aid the European recovery, by cutting sovereign debt and boosting the level of investment, says European Central Bank (ECB) executive board member Benoit Coeure. Speaking in Aix-en-Provence, France, Coeure said that the current economic situation is very worrying, and that "the only way out is by investing". But this should [...]