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28th Mar 2024

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Moody's downgrades German and Austrian banks

Credit rating agency Moody's Wednesday lowered ratings for six German banking groups and Austria's three largest banks. German lenders face increased risk of further shocks emanating from the euro area debt crisis, Moody's said. Austrian banks were lowered due to their exposure to the financial crisis in eastern Europe.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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