PRAGUE, June 13 (Reuters) – Floods that have caused billions
of euros in damage across central Europe may actually provide an
economic boost for the Czech Republic, a country struggling to
shrug off its longest recession in more than two decades.
Governments and insurers from Germany to Romania will have
to pick up the costs of helping families and business recover
from the floods, which have killed at least a dozen people and
driven hundreds of thousands from their homes since the start of
BUDAPEST/PRAGUE (Reuters) – The leaflets dropping into Hungarians’ mailboxes this month told citizens the economy has turned a corner, whatever foreign critics might think.
Emblazoned with the red, white and green of the national flag, the government-funded brochure hailed the steps conservative Prime Minister Viktor Orban had taken. “Hungary is doing better,” it read.
PRAGUE, May 15 (Reuters) – Hungary’s economy unexpectedly
broke out of recession in the first quarter and Romania expanded
faster than forecast, but their regional peer the Czech Republic
plunged deeper into its longest downturn in two decades.
The European Union’s developing members are struggling with
varying success to return to the pace of growth they need to
catch up with the richer West, having been dragged back into
double-dip contractions by the euro zone debt crisis.
BRATISLAVA (Reuters) – European Central Bank policymakers played down on Friday prospects of the bank cutting its deposit rate below zero any time soon, saying it was just one of several possible treatments for the sickly euro zone economy.
ECB President Mario Draghi said on Thursday the ECB was “technically ready” to shift the deposit rate into negative territory, meaning it would start charging lenders for holding their money overnight – a thorny issue for already strained financial markets.