Friday

29th Mar 2024

Ticker

UK warns EU against escalating City-of-London battle

Bank of England governor Andrew Bailey has warned the EU against trying to force the €681 trillion market in euro-denominated 'derivatives' (financial instruments) to move from London to the mainland in the wake of Brexit. Such an EU step would be a "serious escalation," he told press Wednesday. "That would be highly controversial and it would be something we would have to and want to resist very firmly," Bailey 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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