Thursday

28th Mar 2024

Ticker

Russia's war to cost Germans €260bn

Russia's war in Ukraine is to cost Germany's economy some €260bn by 2030 according to a study by the Institute for Employment Research. Its GDP will fall by 1.7 percent by next year, putting 240,000 Germans out of work, due to high energy prices, which will hurt the chemicals and metals industries, it noted. Inflation will also see Germans spend less on leisure, hitting the hospitality industry, it added.

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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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