Friday

29th Mar 2024

Ticker

Austrian chancellor loses power over corruption affair

Austrian centre-right chancellor Sebastian Kurz has been ousted from office after a no-confidence vote in which his former allies, the far-right FPO, as well as the opposition centre-left SPO and Green Jetzt Paris attacked his handing of the recent FPO corruption scandal. The vote camde despite Kurz's OVP party coming top in the European Parliament election. Austria will be run by a caretaker government until elections in September.

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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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