The European Central Bank is holding its monthly meeting – an offsite gathering in Cyprus – and is about to commence its quantitative easing bond-buying programme.
G20 finance ministers and central bankers meeting in Istanbul will pledge to act decisively on monetary and fiscal policy if needed to combat the risk of stagnation, according to a draft communique obtained by Reuters last night. As has been customary at these summits, a lot of the discussion implicitly centres on Germany.
For the past five years, Britain has been a haven of political and economic stability amid the turbulence in Europe. No longer.