Friday

29th Mar 2024

Ticker

Scholz sworn in as new German chancellor

The Bundestag elected Olaf Scholz as the new German chancellor on Wednesday, in succession to Angela Merkel who held the office for 16 years, Deutsche Welle reports. Members of the parliament voted by 395 from a total of 707 votes cast for Scholz to become Germany's new head of government. Merkel wished Scholz the best of luck, saying it is "the best job there is."

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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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