Balazs's Feed
Jul 29, 2015

Disappointed ECB says euro zone economies further apart than at the start

FRANKFURT (Reuters) – The euro zone’s founding members are further apart economically than they were, a “disappointing” outcome defying the premise that laggards would slowly catch up in common currency bloc, the European Central Bank said on Wednesday.

Early members failed to recognize that lower borrowing costs, a key benefit in the currency union, would only provide a temporary boost, and left unchecked, would actually lead to many of the troubles that plunged the bloc into its debt crisis.

Jul 16, 2015

Immediate ECB funding boost to Greece uncertain as Europe mulls bridge loan

FRANKFURT, July 16 (Reuters) – The European Central Bank
could be forced by time constraints to delay a funding boost for
Greek lenders, a key step towards their reopening, as it waits
for Europe to agree a financial backstop that ensures Athens can
repay its debts.

The bank had been ready to increase Emergency Liquidity
Assistance (ELA) after Greece approved the bailout deal. But it
wants first to ensure that temporary financing for the Greek
budget is in place and Greece is able to repay a big debt to the
ECB on July 20.

Jul 16, 2015

ECB to weigh funding boost for Greece

FRANKFURT (Reuters) – Greece’s approval of a bailout deal overnight could persuade the European Central Bank to ease its funding squeeze on Athens as soon as Thursday, the first step in reopening banks and returning some normality to its stricken economy.

Making a symbolic gesture, the bank could increase Emergency Liquidity Assistance (ELA) when its Governing Council meets, helping to restore confidence after Greece was nearly forced from the euro — a debate that challenged ECB President Mario Draghi’s pledge that the currency was irreversible.

Jul 9, 2015

Greece needs debt haircut but we can’t help: Germany’s Schaeuble

FRANKFURT (Reuters) – Germany’s finance minister conceded for the first time on Thursday that a write-off of some of Europe’s loans to Greece might be needed to get the country’s debt to a manageable level, but in the same breath ruled out such a step.

Presenting a paradox that is set to bog down last-ditch efforts to bail out Greece, Wolfgang Schaeuble said that European rules meant that writing off some loans to Greece was not doable, however desirable it might be for Athens’ finances.

Jul 9, 2015

Germany’s Schaeuble: Greece needs debt haircut but we can’t help

FRANKFURT, July 9 (Reuters) – Germany’s finance minister
conceded for the first time on Thursday that a write-off of some
of Europe’s loans to Greece might be needed to get the country’s
debt to a manageable level, but in the same breath ruled out
such a step.

Presenting a paradox that is set to bog down last-ditch
efforts to bail out Greece, Wolfgang Schaeuble said that
European rules meant that writing off some loans to Greece was
not doable, however desirable it might be for Athens’ finances.

Jul 8, 2015

Euro zone, ECB facing renewed headache from weak inflation

FRANKFURT (Reuters) – Obscured by the Greek crisis, the prospect of weak inflation is once again troubling the European Central Bank, raising the possibility it will have to accelerate or even expand its 1 trillion euro asset buying program to boost consumer prices.

Plummeting commodity prices on the back of China’s stock market rout have already dampened the inflation outlook, just months after the ECB rolled out its 60 billion euro per month asset buying scheme to lift prices, while weak lending growth and the Greek crisis add further downward pressure.

Jun 3, 2015

ECB to focus on roll out of QE as Greece deadline looms

FRANKFURT, June 3 (Reuters) – European Central Bank
President Mario Draghi is set to reaffirm his commitment to
quantitative easing and may call on Greece to finally agree a
fresh aid deal with its creditors after the ECB left interest
rates on hold as expected on Wednesday.

The euro zone’s central bank is likely to raise its
inflation forecast at a 1230 GMT news conference and say its
trillion-euro-plus asset buying programme is already paying off.

Jun 3, 2015

ECB to press case for steady QE, may urge Greece to accept deal

FRANKFURT (Reuters) – The European Central Bank is set to raise its inflation forecast on Wednesday, saying that its trillion-euro-plus asset buying program is already paying off, and may urge Greece to accept a new deal from its creditors to access fresh aid.

In what could be the bank’s least eventful meeting in months, the ECB is set to keep rates on hold, confirm its growth forecasts, make the case for a steady pace in quantitative easing and discuss Greece only briefly, leaving most of the talking to Brussels.

Jun 3, 2015

ECB to press case for steady quantitative easing, may urge Greece to accept deal

FRANKFURT (Reuters) – The European Central Bank is set to raise its inflation forecast on Wednesday, saying that its trillion-euro-plus asset buying programme is already paying off, and may urge Greece to accept a new deal from its creditors to access fresh aid.

In what could be the bank’s least eventful meeting in months, the ECB is set to keep rates on hold, confirm its growth forecasts, make the case for a steady pace in quantitative easing and discuss Greece only briefly, leaving most of the talking to Brussels.

May 22, 2015

Eyeing competitiveness, Nordics debate more ‘latte pappas’

OSLO/STOCKHOLM (Reuters) – Nordic nations are the tops when it comes to gender equality, according to the World Economic Forum’s global rankings which reviews the gaps between men and women in a range of areas, including the economy.

But not happy to rest on their laurels, some of these progressive, northern European states are debating how much further paid parental leave needs to be pushed onto fathers to liberate more women into the workforce.