Friday

29th Mar 2024

Ticker

EU's euro-strategy bodes ill for City of London

The EU should protect its companies from other countries' sanctions, better enforce its asset-freezes, and encourage more euro-denominated trading, according to a European Commission paper due Wednesday, seen by Reuters. EU officials should also look into "possible technical issues" in helping traders of complex financial products, such as derivatives, move from London to Europe. The strategy comes after the US threatened sanctions against EU firms involved with Russia and Iran.

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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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