European Central Bank - updates

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ECB's Lagarde says 'we've probably passed lowest point' of economic crisis

Jun 26, 2020 - 11:40 PM

'We probably have passed the lowest point. I say that with some trepidation because of course there could be a severe second wave,' says European Central Bank chief Christine Lagarde

UNDER FIRE. Christine Lagarde, president of the European Central Bank, addresses a news conference in Frankfurt am Main, Germany, on January 23, 2020. File photo by Daniel Roland/AFP

ECB ramps up eurozone support as pandemic persists

Jun 04, 2020 - 11:00 PM

The European Central Bank announces 600 billion euros ($674 billion) more of emergency bond-buying and the scheme's extension until June 2021

ECB. The European Central Bank, based in Germany. Photo from Shutterstock

ECB warns virus response could renew fears of euro breakup

May 26, 2020 - 11:25 PM

The European Central Bank reiterates that more joint action at the European level could keep government debt sustainable for individual nations

ECB. The headquarters of the European Central Bank is pictured in Frankfurt am Main, Germany, on March 12, 2020. Photo by Daniel Roland/AFP

ECB stands firm after shock German ruling on bond buying

May 06, 2020 - 7:50 AM

In a shock ruling, Germany's Constitutional Court gives the European Central Bank 3 months to clarify key elements of its support to the eurozone

ECB. The headquarters of the European Central Bank is pictured in Frankfurt am Main, Germany, on March 12, 2020. Photo by Daniel Roland/AFP

European Central Bank ready to reload as 'unprecedented' slump hits

Apr 30, 2020 - 11:00 PM

'The euro area is facing an economic contraction of a magnitude and speed that are unprecedented in peacetime,' says European Central Bank chief Christine Lagarde

(FILES) In this file photo taken on March 12, 2020,, the headquarters of the European Central Bank (ECB, R) on the banks of the river Main and the banking district (in background) are pictured in Frankfurt am Main, western Germany. - The European Central Bank could reiterate on April 30, 2020 its power to do more still to cushion the eurozone economy from the impact of the novel coronavirus, analysts said, while maintaining pressure on governments to agree a joint response. (Photo by Daniel ROLAND / AFP)

Euro banknotes safe to touch despite coronavirus – ECB

Apr 28, 2020 - 8:30 PM

'Banknotes do not represent a particularly significant risk of infection' compared with other surfaces, says the European Central Bank's Fabio Panetta

Image from Shutterstock

ECB eases bank risk capital requirements to calm markets

Apr 17, 2020 - 1:30 AM

The European Central Bank says it is 'responding to the extraordinary levels of volatility recorded in financial markets since the outbreak of the coronavirus'

ECB. The European Central Bank, based in Germany. Photo from Shutterstock

ECB eases bank funding rules in 'unprecedented' step

Apr 08, 2020 - 8:30 AM

This is the European Central Bank's latest move to keep cash flowing through the financial system as the coronavirus pandemic batters the global economy

ECB. The headquarters of the European Central Bank is pictured in Frankfurt am Main, Germany, on March 12, 2020. Photo by Daniel Roland/AFP

ECB asks banks to halt dividends over virus crisis

Mar 28, 2020 - 9:20 AM

The European Central Bank urges banks to lend to households and businesses during the coronavirus pandemic

ECB. The headquarters of the European Central Bank is pictured in Frankfurt am Main, Germany, on March 12, 2020. Photo by Daniel Roland/AFP

ECB says banks now have extra 1.8 trillion euros to lend in virus fight

Mar 21, 2020 - 8:30 AM

The European Central Bank eases rules to free up more funds that financial institutions can use for loans to households and corporate customers

ECB. The European Central Bank, based in Germany. Photo from Shutterstock

Top central banks launch new bid to keep dollars flowing

Mar 20, 2020 - 11:10 PM

Starting on Monday, March 23, certain dollar liquidity operations among the banks will occur daily rather than weekly

ECB brings 750-billion-euro bazooka to virus fightback

Mar 19, 2020 - 9:30 AM

The European Central Bank's Pandemic Emergency Purchase Program involves buying government and corporate bonds to keep liquidity flowing

(FILES) In this file photo taken on March 12, 2020 The headquarters of the European Central Bank (ECB) is pictured in Frankfurt am Main, western Germany, on March 12, 2020. - The European Central Bank on Wednesday announced a surprise 750-billion-euro scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the economic damage from the coronavirus. (Photo by Daniel ROLAND / AFP)

ECB rushes to clear up Lagarde stumble on virus response

Mar 13, 2020 - 11:30 PM

Christine Lagarde, president of the European Central Bank, comes under fire for the ECB's response to the novel coronavirus

WHAT'S AHEAD? Christine Lagarde, president of the European Central Bank, addresses a news conference in Frankfurt am Main, Germany, on January 23, 2020. Photo by Daniel Roland/AFP

Chiding governments, European Central Bank brings big guns to virus fight

Mar 13, 2020 - 12:50 AM

The European Central Bank launches a flurry of measures to cushion the impact of the coronavirus, including increased bond purchases and cheap loans to banks

CORONAVIRUS IN EUROPE. Tourists wearing protective masks visit Venice on February 25, 2020, during the usual period of the Carnival festivities which have been canceled following an outbreak of the COVID-19 novel coronavirus in northern Italy. Photo by Andrea Pattaro/AFP

Out of ammo? European Central Bank on the spot in coronavirus fightback

Mar 06, 2020 - 2:30 AM

Critics question how much more the European Central Bank can do to deal with the economic impact of the novel coronavirus

Christine Lagarde, President of the European Central Bank (ECB) addresses a news conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on January 23, 2020. - ECB chief Christine Lagarde said risks to the eurozone economy had become "less pronounced" in the wake of a US-China trade truce. (Photo by Daniel ROLAND / AFP)

Coronavirus is 'new layer of uncertainty' for European economy

Feb 06, 2020 - 2:10 AM

European Central Bank chief Christine Lagarde's remarks place the novel coronavirus on the same level of menace to growth as trade tensions and geopolitical flashpoints

A military personnel (Front) sits in coach transporting Italian citizens (Rear) repatriated from the coronavirus hot-zone of Wuhan, leaves the Mario De Bernardi military airport in Pratica di Mare, south of Rome, on February 3, 2020 after landing from China, to be placed in quarantine at the nearby Cecchignola center. (Photo by Andreas SOLARO / AFP)

'Never give up,' ECB's Draghi says on monetary policy legacy

Oct 24, 2019 - 11:53 PM

'Certainly this experience has been very intense, profound and fascinating, I take this with me,' says outgoing European Central Bank chief Mario Draghi

OUTGOING. Mario Draghi, president of the European Central Bank, leaves a press conference following the meeting of the Governing Council in Frankfurt am Main, western Germany, on October 24, 2019. Photo by Daniel Roland/AFP

Former IMF chief Lagarde takes swipe at Trump's Twitter habits

Oct 20, 2019 - 12:13 AM

'Market stability should not be the subject of a tweet here, a tweet there,' says Christine Lagarde, who is set to head the European Central Bank

Eurozone growth slows to 0.2% in Q2 2019

Jul 31, 2019 - 10:00 PM

An economist says the weak data would strengthen the case of the European Central Bank to announce 'stimulus measures'

Photo from Shutterstock

Eurozone inflation falls sharply amid slowdown fears

Jun 04, 2019 - 5:39 PM

The latest data puts consumer prices in the 19-nation single currency bloc even further from the European Central Bank's inflation goal of just below 2.0%

ECB. This file photo show the headquarters of the European Central Bank. File photo by Daniel Roland/AFP

Eurozone 'not resilient enough' to weather another economic crisis – IMF chief

Mar 28, 2019 - 9:33 PM

IMF Managing Director Christine Lagarde says the currency union 'is not resilient enough' to emerge unscathed from 'unexpected economic storms'

LAGARDE. International Monetary Fund chief Christine Lagarde in Frankfurt am Main, Germany, April 5, 2016. File photo by Daniel Roland/AFP

Mixed emotions in Germany as 500-euro note bows out

Jan 27, 2019 - 8:45 PM

The 500-euro note is being phased out after research linked its use to money laundering, tax evasion, and terrorism financing

A person presents several 500 Euro notes on February 12, 2016 in Paris. - The European Central Bank will take a decision soon on whether to keep printing 500-euro banknotes, with the arguments for doing so becoming "less and less convincing", a top-ranking official said on February 11, 2016. (Photo by MIGUEL MEDINA / AFP)

European Central Bank launches real-time payments in challenge to tech giants

Nov 30, 2018 - 1:22 PM

The so-called TIPS system will allow consumers and businesses across the 19-nation euro area to send and receive money in mere seconds, without the usual lags associated with online and real-world transactions

EU weighs post-Brexit jab against London finance hub

Jun 13, 2017 - 11:26 AM

If confirmed the rules would be seen as a hostile move against Britain ahead of coming Brexit negotiations

FINANCIAL HUB. The Canary Wharf financial district and the River Thames are seen in London on June 5, 2017. Odd Andersen/AFP

Greece, creditors look to debt relief after provisional fiscal deal

May 02, 2017 - 12:39 PM

3rd UPDATE Greece reaches a preliminary deal with its creditors that should pave the way for long awaited debt relief talks the Greek finance minister says

A woman stands by European Union and Greek flags in central Athens on April 21, 2017. Louisa Gouliamaki/AFP

Central banks move to reassure markets after Brexit

Jun 25, 2016 - 11:00 AM

Britain s decision to leave the EU – following a bitterly contested referendum – has rocked global stock markets and sent the pound crashing to its lowest level in more than 3 decades

AFTER BREXIT. This file photo shows a Euro symbol projected onto the European Central Bank (ECB) in Frankfurt am Main, Germany March 12, 2016. File photo by Boris Roessler/EPA

Greece in debt relief 'breakthrough' with eurozone, IMF

May 25, 2016 - 8:59 AM

UPDATED Analysts warn however that the details of the crucial deal are sketchy

An European Union and Greek flags fly in central Athens on July 4, 2015. Louisa Gouliamaki/AFP/File

Greek parliament approves new austerity measures to unlock bailout cash

May 23, 2016 - 12:48 AM

UPDATED The 7 000 page bill that raises the sales tax cap and introduces a contingency mechanism to slash spending further in case of budget overruns is passed thanks to the Syriza led coalition government s slim majority

Greece says 'close' to deal with creditors

Apr 13, 2016 - 8:44 AM

Greece says it is very close to clinching a deal with its international creditors despite a suspension in a tough round of talks on the country s latest reforms

European Union and Greek flags fly in central Athens on July 4, 2015. Louisa Gouliamaki/AFP

Why is eurozone inflation so persistently low?

Mar 06, 2016 - 9:25 PM

Here s how oil prices exchange rates wages and corporate investment affect inflation

epa05023363 Clouds are howering over the Finnish capital Helsinki, with the Finnish flag on a boat almost hanging half-mast, Helsinki, Finland, 26 September 2015. Eurozone economic growth slowed in the third quarter of 2015, coming in at a less-than-expected 0.3 per cent compared with the previous three months, according to data released 13 November 2015. The 19-member currency bloc has struggled to rev up its economic engine after emerging from recession in 2013. Inflation is hovering around zero and unemployment is only gradually falling.  Growth in the eurozone's gross domestic product (GDP) continued to slip after dropping from 0.5 per cent in the first quarter and 0.4 per cent in the second, according to an estimate by the European Union's statistics office, Eurostat. Finland is part of Eurozone and it's currently worst performing economy. EPA/MAURITZ ANTIN

Eurozone unemployment at lowest since August 2011

Mar 02, 2016 - 1:10 PM

Unemployment in the 19 nation eurozone drops to 10 3 in January 2016

epa05023342 A general view of the Estonian capital Tallinn, as seen from the Toompea old town of Tallinn, Estonia, 25 September 2015. Eurozone economic growth slowed in the third quarter of 2015, coming in at a less-than-expected 0.3 per cent compared with the previous three months, according to data released 13 November 2015. The 19-member currency bloc has struggled to rev up its economic engine after emerging from recession in 2013. Inflation is hovering around zero and unemployment is only gradually falling.  Growth in the eurozone's gross domestic product (GDP) continued to slip after dropping from 0.5 per cent in the first quarter and 0.4 per cent in the second, according to an estimate by the European Union's statistics office, Eurostat. Estonia is part of Eurozone. EPA/MAURITZ ANTIN

Asia stocks surge on central bank stimulus hopes

Jan 22, 2016 - 3:52 PM

After a rout that has wiped several trillion dollars off global markets so far this year the prospect that two of the planet s biggest central banks were ready to step in finally gives investors something to cheer about

STOCK CHECK. Visitors talk in front of a display showing afternoon trade figures at the Tokyo Stock Exchange in Tokyo, Japan, 04 February 2014. Kimimasa Mayama/EPA

ECB speculation sends Asia stocks surging, euro sinks

Oct 23, 2015 - 5:09 PM

Regional investors were set to end another week on a positive note extending an October rally that has been fueled by hopes for more monetary easing from key central banks

ASIA STOCKS SOAR. The European Central Bank's hint at fresh stimulus measures sent Asia stock markets and emerging currencies surging. Photo by EPA

Enrile’s bail, Recto’s degrees, LeBron in Manila | 6PM wRap

Aug 21, 2015 - 6:43 PM

Watch the 6PM edition of Rappler s newscast The wRap

Eurozone approves Greek bailout in return for far-reaching reforms

Aug 15, 2015 - 9:58 AM

New loans of up to 86 billion euros 96 billion will be made available over the next 3 years to Greece says the European Commission

APPROVED. President of Eurogroup and Dutch Finance Minister Jeroen Dijsselbloem leaves after a special Eurogroup Finance ministers meeting on the Greek crisis. Eurozone finance ministers on August 14 approved Greece's third bailout package in five years moving within reach of a deal that will commit the near-bankrupt country to wide-reaching reforms in return for urgently needed funds. Photo by Julien Warnand/EPA

Germany skeptical over Greek bailout deal backing despite Tsipras confidence

Aug 13, 2015 - 10:31 AM

As eurozone ministers prepared to examine the accord in Brussels on Friday August 14 Tsipras says he is confident the 400 page document will be approved

'A LOT WORSE BEFORE IT GETS BETTER.' Luca Paolini, Pictet Asset Management’s chief strategist in London, says 'there are still critical risks to be resolved'

Greece reaches deal on third bailout with creditors

Aug 11, 2015 - 4:07 PM

Finance Minister Euclid Tsakalotos: We are very close There are a couple of very small details remaining on prior actions

IN TATTERS. A ripped off Greek national flag flutters in central Athens on July 22, 2015. Louisa Gouliamaki/AFP

Germany gained 100 bn euros from Greece crisis

Aug 10, 2015 - 10:37 PM

A new study says Germany which has taken a tough line on Greece has profited from the country s crisis to the tune of 100 billion euros

BAILOUT. An elderly man stands beside a lifebuoy hanging on a wall outside a chapel in central Athens on July 7, 2015. Photo by Aris Messinis / AFP

Greek bailout talks with auditors begin as market to reopen Monday

Aug 01, 2015 - 1:04 PM

The government hopes to conclude the EU IMF fiscal audit before August 20 when it is scheduled to repay 3 4 billion euros to the European Central Bank including interest

REOPENING. The Greek stock market is set to reopen on August 3, 2015 as talks continue between Greece's finance and economy ministers with the representatives of the country's creditors on a new multi-billion-euro bailout. File photo by Orestis Panagiotou/EPA

Greece prepares to reopen Athens stock market

Jul 29, 2015 - 2:31 AM

The aim was to protect the banking sector which is seen huge withdrawals over the past six months

GREEK ECONOMY. A boy holds a Greek national flag as people celebrate in front of the parliament on July 5, 2015 in Athens. AFP file photo

A frosty welcome for Greece's hated creditors

Jul 27, 2015 - 1:13 PM

The IMF EU and ECB became a widely loathed emblem of the painful austerity demanded by Greece s creditors in return for two previous bailouts cuts many say brought the country s economy to its knees

IN TATTERS. A ripped off Greek national flag flutters in central Athens on July 22, 2015. Louisa Gouliamaki/AFP

New Greek bailout talks to begin Monday, July 27 –EU, IMF

Jul 27, 2015 - 12:49 AM

Technical teams from Greek s creditors will begin talks on Monday July 27 for a bailout package of up to 86 billion euros

EU CRISIS. A Greek and a European Union flag flutter in front of the Acropolis hill in Athens, Greece, July 7, 2015. Orestis Panagiotou/EPA

Greece, creditors to begin bailout talks Tuesday – govt source

Jul 26, 2015 - 7:16 AM

The source says talks to finalize the bailout deal would only begin on Tuesday July 28 though heads of missions would arrive a day or two later in Athens

NEGOTIATIONS. Talks from the creditors -- who have bailed Greece out twice already since 2010 -- have not set foot in Athens for more than a year as hostility has grown between the two sides. Photo from AFP

Creditors expected in Greece by Sunday night

Jul 25, 2015 - 9:12 PM

Representatives from Greece s international creditors are expected to arrive in Athens by Sunday night

GREEK CREDIT. This photo taken in Athens on July 11, 2015 the map of Europe represented on a euro coin and banknotes. AFP file photo

Greece creditors due in Athens 'in coming days'

Jul 25, 2015 - 12:18 AM

The officials from the European Commission European Central Bank and International Monetary Fund are due in Athens after Prime Minister Alexis Tsipras agreed to start talks on a new bailout for Greece

This photo taken in Athens on July 11, 2015 the map of Europe represented on a euro coin and banknotes. Photo by Aris Messinis/AFP

Greece passes second crucial bailout bill

Jul 23, 2015 - 8:25 AM

UPDATED The bill passes by a resounding 230 votes out of the 298 members of parliament present after a marathon debate stretching into the early hours that nonetheless exposed deep divisions in the governing Syriza party

APPEAL. Greek Prime Minister Alexis Tsipras delivers his speech during a parliamentary session in Athens, Greece July 22, 2015. Yannis Kolesidis/EPA

Greece to vote on second bailout bill in test for Tsipras

Jul 22, 2015 - 1:05 PM

Analysts say it will nonetheless prove a test of whether Tsipras can avoid a split within Syriza that could fell his fragile coalition government

CALM. People sit outside the Greek parliament in Athens on July 21, 2015. Louisa Gouliamaki/AFP

Financial reboot: Banks reopen in Greece after 3-week shutdown

Jul 20, 2015 - 3:42 PM

UPDATED The head of the Greek bank association urges citizens to bring their savings back to the banks

OPEN FOR BUSINESS. People enter a bank in central Athens on July 20, 2015.Louisa Gouliamaki/AFP

Banks to reopen, taxes hiked as Greece prepares to reboot economy

Jul 19, 2015 - 9:24 PM

UPDATED Greece is preparing to restart its struggling economy after months of fraught confrontation with its creditors

EURO. This photo shows the map of Europe represented on a Euro coin and banknotes. Photo by Aris Messinis/AFP

Greek lawmakers back bailout as clashes erupt in Athens

Jul 16, 2015 - 7:39 AM

UPDATED Prime Minister Alexis Tsipras manages to push through a series of unpopular reforms demanded by the country s international creditors despite scenes of anger over austerity in Athens

BAILOUT DEBATE. Greek Prime Minister Alexis Tsipras (C) addresses the members of the parliament during a parliamentary session in Athens, Greece, July 15, 2015. Alexandros Vlachos/EPA