Francois Hollande calls on ECB to fight deflationary risk in Europe August 5, 2014 French president Francois Hollande has implored the European Central Bank (ECB) to do more to support growth and employment and combat a "real deflationary risk" in Europe. In an interview with LeMonde, Hollande argued that "weak inflation too has negative fiscal consequences on revenues as well as debt. A lot will depend on the level [...]
Update: Blackmailer hacks ECB website, steals email addresses and contact details July 24, 2014 The European Central Bank (ECB) has had its website hacked, with sensitive personal information including email addresses and contact data stolen. The ECB received an anonymous call on Monday night requesting money in return for the stolen data. The bank didn't say how much the blackmailer asked for, but did say that it refused to [...]
ECB will give Eurozone banks just two weeks to devise plan to get their houses in order July 17, 2014 The European Central Bank (ECB) will give Eurozone lenders just two weeks to come up with plans to deal with any capital shortfalls after it completes a review of the currency union's most important banks this autumn. In an update of its plans as it prepares to conduct stress tests of the Eurozone's 128 largest [...]
Mario Draghi says QE “falls squarely” in European Central Bank mandate July 14, 2014 Mario Draghi is doing more scene-setting work for full-blown quantitative easing. Speaking to EU politicians today, the European Central Bank (ECB) president said that QE "falls squarely" in the central bank's mandate. Draghi's comments come as the International Monetary Fund today did all but outright say that the ECB should begin to engage in asset [...]
Euro central bank boss Mario Draghi rejects Renzi reforms for deficit rules July 9, 2014 EUROPEAN Central Bank (ECB) chief Mario Draghi weighed in on the debate over Eurozone deficit reduction yesterday, slapping down Italian Prime Minister Matteo Renzi’s push for a more lenient approach. Speaking in London yesterday, Draghi stressed the importance of sticking to the currency bloc’s existing fiscal rules. Recently, Renzi and other European politicians had suggested [...]
UK vs ECB: Britain squares up to Eurozone in legal battle for City’s rights July 9, 2014 British lawyers accused the European Central Bank (ECB) of breaking the single market rules in a landmark case yesterday. By insisting euro-denominated payment transactions are cleared within the Eurozone, the ECB is breaking the law, the Treasury argued. The UK complained in 2011 but it has taken until now to reach the European Court of Justice [...]
Boosting investment is “only way out” for Europe – ECB’s Coeure July 6, 2014 Governments must do more to aid the European recovery, by cutting sovereign debt and boosting the level of investment, says European Central Bank (ECB) executive board member Benoit Coeure. Speaking in Aix-en-Provence, France, Coeure said that the current economic situation is very worrying, and that "the only way out is by investing". But this should [...]
Mario Draghi rips up the rulebook on European Central Bank minutes July 3, 2014 European Central Bank (ECB) boss Mario Draghi said yesterday that the bank’s monetary stance would remain unchanged for the coming month, as he unveiled a new system for communicating its policymakers’ thinking. From the start of next year, the euro area’s central bank will meet every six weeks, instead of monthly. The extra time period [...]
CNBC Comment: Why Draghi can’t relax this summer June 30, 2014 WHO’D be a central banker? As soon as you restore bond and equity markets to calm or even optimism, investors start fretting about something else. Most major Western economies have returned to economic growth, and countries that were causing sleepless nights just a couple of years ago, like Spain and Ireland, appear to be market [...]
Higher core Eurozone inflation may allow ECB to “wait and see” June 30, 2014 Inflation in the euro area has held steady in June, static at an annual rate of 0.5 per cent, according to data released by Eurostat. Fears over the disinflationary climate in the Eurozone prompted the European Central Bank (ECB) to take action this month, with president Mario Draghi delivering a package of measures aimed at [...]