Friday

29th Mar 2024

Ticker

ECB defends suspended Latvian bank chief

The European Central Bank (ECB) on Wednesday said the head of Latvia's central bank, Ilmars Rimsevics, who was removed over suspicion of corruption, should be allowed to exercise some of his powers. At a hearing at the EU Court of Justice, the ECB argued that Rimsevics's removal was illegal and threatened the EU central bank's independence. The case was brought to the court by Rimsevics.

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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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