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European Central Bank

ECB's Visco says euro can only last if euro zone becomes a single state

ECB's Visco says euro can only last if euro zone becomes a single state

  • A stateless currency can last for a certain amount of time but then there is a need for a state and a budget union.
  • Visco's message was similar to the one given by former ECB chief Mario Draghi last week in his maiden speech to parliament as Italy's new prime minister.
Updated 22 Feb, 2021 10:05pm
ECB plans closer scrutiny of bank boards
Business & Finance

ECB plans closer scrutiny of bank boards

  • The ECB already examines the suitability of board candidates in a so-called fit and proper assessment, but rules across the 19 euro zone members vary, so the quality of these checks can be inconsistent.
  • Supervisors will consider furthermore all of the diversity-related aspects that are most relevant to enhancing the individual and collective leadership of boards.
Published 19 Feb, 2021 07:55pm
ECB worried about euro but relaxed on yields: account
Business & Finance

ECB worried about euro but relaxed on yields: account

  • Concerns were voiced ... over developments in the exchange rate that might have negative implications for euro area financial conditions and, ultimately, consequences for the inflation outlook.
  • It was maintained that not every increase in nominal yields should be interpreted as an unwarranted tightening of financing conditions and trigger a corresponding policy response.
Published 18 Feb, 2021 08:47pm
Draghi sets out plan to rebuild virus-hit Italy
World

Draghi sets out plan to rebuild virus-hit Italy

  • In a second speech on Wednesday evening, he also pleaded for a revival of a failed policy: forcing EU countries to each take a share of the migrants arriving from across the Mediterranean, after years of Italy shouldering much of the burden.
Published 18 Feb, 2021 10:23am
Italy sees record demand in first bond sale under Draghi
Markets

Italy sees record demand in first bond sale under Draghi

  • Italy's 10-year bond yields fell to a record-low last week after head of state Sergio Mattarella asked Draghi to form a new government.
  • The Treasury set the yield on a new 10-year BTP bond at 4 basis points above the rate of an existing April 2031 BTP note, halving the initial indication of an 8 basis point spread.
Published 16 Feb, 2021 07:18pm
Going digital will boost rouble's global role, Russia says
Markets

Going digital will boost rouble's global role, Russia says

  • Russia's central bank first floated the idea of the digital rouble last October, saying it could be issued on top of existing cash and non-cash roubles to facilitate payments.
  • China's example shows that they want to use their digital currency as a tool for international settlements.
Published 11 Feb, 2021 08:36pm
Europe will need fiscal help into 2022: Lagarde
World

Europe will need fiscal help into 2022: Lagarde

  • Lagarde also called on European Union leaders to kick start the bloc's 750 billion euro Next Generation EU spending package as some economic restrictions could remain in place until the second half of the year.
Updated 11 Feb, 2021 12:30am
European shares rise
Markets

European shares rise

MILAN/FRANKFURT: European shares rose on Wednesday as focus remained on a busy day of earnings, with Italian shares...
Published 04 Feb, 2021 04:13am
ECB keeps Italian debt purchase steady through govt crisis
Markets

ECB keeps Italian debt purchase steady through govt crisis

  • Investors have been wondering whether the ECB was once again helping keep a yield on Italian bond yields since mid-January, when an unfolding government crisis only spurred a muted market reaction.
  • The ECB bought 18.1 billion euros of Italian debt over the last two months under its pandemic-fighting programme plus an additional 3 billion euros under its regular stimulus scheme.
Published 01 Feb, 2021 09:41pm