Friday

29th Mar 2024

Ticker

EU states losing 3% of GDP a month, IMF says

The virus shutdown is costing EU states 3 percent of their GDP each month and will cause "a deep European recession this year", the International Monetary Fund's (IMF) European director Poul Thomsen has said. But "the determination of euro area leaders to do what it takes to stabilise the euro should not be underestimated," he added, referring to EU plans to ease fiscal discipline and unlock an anti-financial crisis fund.

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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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