FRANKFURT (Reuters) – Lending in the euro zone increased for the first time in three years, the European Central Bank said on Wednesday, marking a new chapter in the bloc’s recovery after the launch of a massive money-printing program.
Lending across the 19 countries in the currency union rose by 0.1 percent on the year in March, giving hope that Europe, whose economy has trailed that of the United States, may finally be turning the corner.
FRANKFURT/NICOSIA, April 28 (Reuters) – Cyprus is ready to
react to any spillover from the crisis in Greece, the governor
of the island’s central bank said on Tuesday, adding the two
countries were decoupling in the eyes of international markets.
Chrystalla Georghadji’s written remarks, sent on Tuesday in
response to questions from Reuters, underline concerns among
Cypriot policymakers amid heightened uncertainty over Greece’s
future in the euro zone.
FRANKFURT, April 20 (Reuters) – The European Central Bank
cannot promise to fund Greece and its banks regardless of the
circumstances but is convinced it won’t leave the euro zone,
European Central Bank Vice President Vitor Constancio said on
Constancio also said that a default by a euro state has no
automatic impact for the nation’s banks.
FRANKFURT (Reuters) – The European Central Bank has analyzed a scenario in which Greece runs out of money and starts paying civil servants with IOUs, creating a virtual second currency within the euro bloc, people with knowledge of the exercise told Reuters.
Greece is close to having to repay the International Monetary Fund about 1 billion euros in May and officials at the ECB are growing concerned.
FRANKFURT, April 17 (Reuters) – The European Central Bank
has analysed a scenario in which Greece runs out of money and
starts paying civil servants with IOUs, creating a virtual
second currency within the euro bloc, people with knowledge of
the exercise told Reuters.
Greece is close to having to repay the International
Monetary Fund about 1 billion euros in May and officials at the
ECB are growing concerned.
FRANKFURT (Reuters) – Economists and other experts surveyed by the European Central Bank pared back their predictions on Thursday for inflation to just above zero for this year as oil prices stay low, but expect it will pick up strongly in 2016 and beyond thanks to fresh money printing.
The closely watched Survey of Professional Forecasters upgraded forecasts for economic growth in the coming three years, although economists see only a modest improvement in unemployment in the years to 2017.
FRANKFURT (Reuters) – The European Central Bank has no plans to curb or curtail its money-printing programme although it expects euro zone economic recovery to broaden and strengthen.
Last month the ECB embarked on an asset-buying programme with 60 billion euros (£43.17 billion) a month of news money, which it has said will last until at least September 2016.
FRANKFURT/ATHENS (Reuters) – A group of European Union experts helping Greece to improve administration and draw more European funding is set to be all but dismantled after the new leftist government refused to cooperate with them, officials have told Reuters.
Such a concession to Prime Minister Alexis Tsipras’ government by the European Commission could dismay countries which have grown frustrated with Athens’ push to abandon reforms as it rejects what many in Greece see as European interference.
FRANKFURT (Reuters) – European Central Bank policymakers gathering on Wednesday will examine possible further emergency funding for Greece’s banks as they take stock of a wider economic picture showing early signs of improvement.
With falling prices in the euro zone beginning to stabilize, ECB President Mario Draghi will be able to claim an early success for the quantitative easing scheme — money printing to buy chiefly government bonds — launched by the bank in March.
FRANKFURT (Reuters) – Investors will cast a wary eye on the latest gauges of the United States’ economic health this week, while troubled Europe shows early signs of turning the corner.
As finance ministers and central bankers from the Group of 20 top economies gather in Washington, on the sidelines of the International Monetary Fund’s Spring meeting, they view a subdued global landscape where even the United States’ prospects seem tarnished.