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HOW much is too much of a good thing? The euro has strengthened 5% versus the dollar this year – a fair reflection of the European Union’s better handling of the coronavirus, not least its historic decision to create a pandemic rescue fund that will involve fiscal transfers from the wealthy north of Europe to the worst-affected countries in the south.
THE final chance for more than half a decade to reshape the European Central Bank’s (ECB) inner sanctum of policy making will soon spark a tussle for influence between the region’s smaller countries.
WHEN chairman Jerome Powell (pic) announced after last Wednesday’s Federal Open Market Committee meeting that the Fed is “committed to using its full range of tools to support the US economy in this challenging time”, the market interpreted it as the Fed would do “whatever it takes” to support the United States facing the worst pandemic and economic recession since the 1930s.
BRUSSELS: EU leaders were making progress on Monday after three days of haggling over a plan to revive economies throttled by the Covid-19 pandemic, but Dutch Prime Minister Mark Rutte warned the discussions could still fall apart.
BRUSSELS: EU leaders stood at an impasse on Sunday after three days of haggling over a plan to revive economies throttled by the COVID-19 pandemic, but the chairman of their near-record-length summit urged them to make one last push on "mission impossible".
BRUSSELS: Investors are snapping up Italy’s government debt with as much appetite as during previous European summers, when the high yields proved the perfect place to pick up a steady return while volatility is low.
MILAN: The coronavirus crisis will create room for mergers and acquisitions between euro zone banks, both domestically and cross-border, since it is reducing profitability margins, European Central Bank supervisor Andrea Enria said on Tuesday.
FRANKFURT: The economic fallout from the coronavirus has battered a sector that never recovered from the global financial crisis more than a decade ago. The focus for the rest of the year is on how banks can handle looming loan losses, whether any will be able to pay dividends, and possible further regulatory relief.
COPENHAGEN: Major central banks in Europe and Asia are scaling back their offers of dollars to lenders in a sign of confidence that the pandemic’s grip on markets is loosening, even if the economic pain persists.