Many ECB staff ‘not impressed’ with Lagarde
Lagarde, the first ECB President without a background as a trained economist, has lost the confidence of more than a thousand of her staff, according to a survey…
Finance
Latest reporting and analysis on finance.
Digital euro ‘could significantly destabilise banking system’
"Central Bank Digital Currencies use blockchain technology but in a different way than cryptocurrencies.
Belgium led by ’emperor with no clothes’ as it joins Club Med
Belgium has managed to break into the so-called "Club Med" - Mediterranean countries with higher government debt to GDP ratios - and has surpassed Portugal in such…
EU tightens purse-strings on money laundering – football clubs and crypto outfits may be injured
MEPs and the European Council reached a final agreement over further measures to strengthen the European Union's arsenal against sanctions evasion, money laundering…
Greece ‘behind Russia’s ability to evade EU sanctions’
After Russia’s invasion of Ukraine in February 2022, economic sanctions were imposed on Moscow by the European Union and others in a bid to pressure Moscow into…
Bitter pill: EU faces possible €465 million hit for empty London offices
This year alone the EU is liable to take a £27 million (€31.
Spot container shipping rates soar 173 per cent on Red Sea diversions
Short-term rates for container shipping between Asia, Europe and the US are climbing on reduced capacity caused by the ongoing threats to cargo vessels in the Red…
Meloni sees Italy growing faster than EU partners this year
Prime Minister Giorgia Meloni said she sees scope for Italy’s economy to grow faster than the European Union average this year, and looked forward to likely interest…
Belgium quietly takes up Council of Ministers Presidency
Without fanfare, Belgium has taken the helm of the Presidency of the Council of Ministers for what looks to be a challenging term.
Sánchez to forgive €15 bn in Catalonian debt to shore up shaky Junts alliance
Spain's new Government said it will write-off Catalonia's debts to keep its shaky Junts alliance intact.
EU strikes fiscal rules deal with gradual path to cut debt
European Union finance chiefs ended months of wrangling over fiscal rigour to agree on new rules that will aim to rein in debt and define the bloc’s ability to…
EU Court annuls EU’s approval for Air France 19 state aid
The EU's General Court on Wednesday annulled the European Commission's 2020 decision to approve French state aid for Air France worth 7 billion euros, meant to soften…
Eurozone most likely now in recession, data indicates
The Eurozone is now almost certainly in recession, data gathered by capital market group S&P Global appears to show.
The U.S. economy is Biden’s biggest liability — and Trump’s greatest strength
For months, the Biden administration and its allies in the U.S.
Ukraine joining EU may cost bloc up to €190bn, think-tank says
Ukraine joining the European Union would set the bloc's finances back by up to €190 billion over its budgetary term, a German think-tank has claimed.
Chinese media calls Moody’s ‘biased’ for negative economic outlook
Chinese state media called Moody's "biased" on December 6 for its negative rating outlook on the world's number two economy, but some analysts said the government's…
Eurozone set for ‘the most widely predicted recession ever’
The Eurozone is set for economic downturn, with leading economists telling Brussels Signal “sticky inflation” will hold growth to below 1 per cent through the…
Economic losses pile up in Ukraine as Polish truckers protest
Weeks of road blockades by Polish truckers protesting at the border will reduce Ukraine's overall imports by about a fifth in November, and could cost Kyiv one percentage…
EU admits post-Brexit London City jobs-loss forecast was way off the mark
The European Union has admitted that a doom-laden forecast of huge “City” job losses in London resulting from financial institutions moving their operations…
Germany to suspend debt brake amid budget crisis
Germany’s traffic-light coalition Government intends to rescue its 2023 budget - by taking on additional debt.
Germany freezes new spending as budget is hamstrung
In the midst of a severe fiscal crisis, the German Government has imposed a moratorium on virtually all new expenditure
‘A challenging year’: EU cuts own growth forecast for 2023
The European Union has cut its own growth forecast for 2023, blaming the downward revision on a combination of persistently high inflation and weak external demand.
Munster welcomes EU Cohesion support for enterprise
Local politicians from Munster and other southern localities of Ireland have welcomed a new EU supported program to boost enterprise in their regions.
Tusk’s coalition want to get rid of me over opposition to the Euro, claims Poland’s central bank head
National Bank of Poland (NBP) president Adam Glapiński accommodated the previous PiS government too much on monetary policy and undermined the bank's independence,…
IMF warns Europe: rising wages are bad for you
Rising wages may still push prices upwards, meaning Europe faces a "difficult task" in aiming at both price stability and growth, says the IMF.
Italy judge seizes 780 mln euros from Airbnb in tax probe
An Italian judge has ordered the seizure of 779.
Stagnant growth and high debt leave Italy’s Meloni few economic tools
Italy has recorded no GDP growth for the third quarter.
EU nations lost out on €61 billion in VAT in 2021, EC report finds
European Union Member States lost out on a total of €61 billion in VAT payments in 2021, according to the European Commission VAT Gap Report 2023 released on…
Siemens Energy needs billions of state support as wind division tanks
The German industrial multinational Siemens is in dire need of cash as a result of bad investments in sustainable energy.
ECB moves ahead with digital euro project
The European Central Bank (ECB) is starting preparations for developing a digital euro that would be available free of charge to everyone in the Eurozone for any…