Thursday

28th Mar 2024

Ticker

Eurozone first-quarter economic dip milder than expected

The eurozone economy contracted by much less than expected in the first quarter of the year, revised data from the EU's statistics office showed, Reuters reports. Eurostat said GDP in the 19 countries sharing the euro contracted 0.3 percent quarter-on-quarter for a 1.3 percent year-on-year decline. These compared with estimates three weeks ago of respectively -0.6 percent and -1.8 percent.

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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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