Karlsruhe weakens the German position in Europe

Since the creation of the euro, Germany has placed great emphasis on a number of monetary policy principles: the independence of the central bank from politics, price stability as its primary mandate, reluctance to buy government bonds and the distribution of these purchases among the individual euro countries according to their respective populations and economic […]

Germans hoard cash during the crisis

Dhe Germans want their cash back in the crisis. In March, when the corona pandemic broke out in Europe, savers lifted ten billion euros from their bank accounts. This is the result of a study by the fintech company Deposit Solutions, which evaluated the data from the European Central Bank for banks in the euro […]

Corona emergency aid from the euro rescue fund finally approved.

Olaf Scholz (SPD), Federal Minister of Finance Federal Minister of Finance Olaf Scholz praised Europe’s rapid joint response to the Corona economic crisis (Photo: dpa) Luxembourg The euro area countries can use Corona relief loans amounting to 240 billion euros from the ESM rescue fund. The Board of Governors of the European Stability Mechanism (ESM) […]

Former ECB deputy chief Constâncio sees independence of the ECB in danger

Frankfurt The long-time deputy chief of the European Central Bank, Vítor Constâncio, sees the decision of the Federal Constitutional Court on the ECB’s bond purchases to jeopardize the independence of the central bank. “What worries me most is the consequences for the independence of the ECB,” he told the Handelsblatt in an interview. If the […]

Athens wants to protect money houses with bad banks

Athens The corona pandemic plunges Greece into a deep recession. For commercial banks, the economic downturn comes at the worst possible time. They had just started paying off the mountain of bad loans to clean up their balance sheets. This consolidation is now stalling. A new wave of loan defaults is coming to the financial […]

Europe’s economy is shrinking by more than 7 percent

Dhe Corona crisis will result in a sharp but brief economic downturn for the euro zone and the entire EU. The EU Commission expects this in its spring forecast published on Wednesday. Real gross domestic product (GDP) will shrink by an average of 7.7 percent in 2020 in the euro area and by 7.4 percent […]

ECB purchase program: extensive judgment from Karlsruhe

Dhe ruling by the Federal Constitutional Court on the European Central Bank’s (ECB) bond purchase program, which was launched in 2015 and is still in effect, may or may not change the functioning of the monetary union in the long term. Since the outbreak of the euro crisis at the latest, cohesion in the eurozone […]

Christine Lagarde stays calm in the ECB ghost meeting

Dhe atmosphere was a little ghostly. Christine Lagarde, the President of the European Central Bank (ECB) herself says that it is “strange” to speak before a press conference during which the familiar hall is “empty”. Even her vice president, who usually sits next to her, was only switched on by phone. The distance to her […]

Corona is ravaging Europe … an unprecedented collapse of the private sector

An unprecedented collapse of private sector activity in the euro area in April Last updated: Thursday 30 Shaaban 1440 AH – April 23, 2020 KSA 13:28 – GMT 10:28 Posted on: Thursday 30 Shaaban 1440 AH – April 23, 2020 KSA 11:15 – GMT 08:15 Source: Dubai – Arabic.net Private sector activity in the eurozone […]

Corona in the Czech Republic: National Bank deputy chief on the crisis

Stable banking sector: National Bank deputy Marek Mora believes the Czech financial institutions are robust. Picture: Czech National Bank Marek Mora, the deputy head of the Czech National Bank, expects the economy to recover similar to the “check mark like Nike”. In the interview, he also talks about direct government financing and the liquidity of […]