Thursday

28th Mar 2024

Ticker

EU banks urged to freeze bonuses in return for aid

Bankers ought to give up their bonuses for the next 12 months if they wanted their national governments to pour in public money to soothe the effects of the pandemic slowdown, the Croatian EU presidency has suggested in a paper dated 2 June and seen by Reuters. The ban could be even "longer if such is the duration of the serious economic disturbance determined by the" European Commission, it said.

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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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