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29th Mar 2024

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Cypriot MPs vote to bring in capital controls

Cypriot MPs have voted to immediately implement capital controls in order to prevent a run on the country's banks. The bill limits how much customers can withdraw from their bank accounts and restricts access to and transfer of funds. Cyprus is the first euro country ever to implement capital controls.

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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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