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29th Mar 2024

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Madrid may take control of regional government finances

Madrid warned on Monday that it could seize control of finances in regional governments in a bid to boost investor confidence. Regional governments account for one third of public spending. Spain is supposed to reduce its budget deficit from 8.5 percent of GDP in 2011 to 5.3 percent in 2012.

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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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