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29th Mar 2024

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'Hanseatic' states urge reform of European Stability Mechanism

Ahead of the eurozone finance ministers meeting in Brussels on Monday, 10 smaller northern EU countries, including non-euro members, branding themselves as 'Hanseatic' states, have presented a joint paper on how to reform the European Stability Mechanism (ESM). They suggest that more power be given to the ESM managing director, who should be "tasked to verify the adequacy of the borrower's repayment capacity" before financial assistance is granted.

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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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