Home Tags Euro

Tag: Euro

EU projected on Wednesday a “recession of historic proportions.”

The EU is bracing for a ‘recession of historic proportions’ and predicts a 7.4% contraction in 2020

Italy and Spain will be the worst-hit major economies, contracting 9.5%, forecasts said in a statement on Wednesday.
FILE PHOTO: European Central Bank President Lagarde testifies before the EU Parliament's Economic and Monetary Affairs Committee in Brussels

The European Central Bank has launched a ‘bazooka’ $820 billion pandemic fund to aid markets. ‘There are no limits.’

The so-called Pandemic Emergency Purchase Programme (PEPP) comes six days after it announced policies which did little to provide comfort to traders.
Most of the currencies on the left were replaced by the Euro, pictured on the right.

The euro has been around for 21 years — here are the 12 currencies it replaced

The euro was introduced in many country's banking systems in 1999, and was launched as coins and banknotes in 12 countries on January 1, 2020.
Outgoing ECB President Mario Draghi.

Donald Trump wants negative interest rates. Rates in Europe just went to a record low, and this is the effect.

The European Central Bank's base rate has been negative since 2016. It cut a further 10 basis points to -0.5% and announced a fresh round of stimulus.
FILE PHOTO: G7 summit in Biarritz

Trump attacks the Fed’s policies again, saying the US economy does not have a ‘tariff problem’

"We don't have a Tariff problem (we are reigning in bad and/or unfair players), we have a Fed problem," Trump said. "They don't have a clue!"

The UK, German and Italian economies are all tanking at the same time

"We're starting to fear a Q2 GDP crash in Germany," says Pantheon Macroeconomics.

Trump’s right on the money: IMF finds the US dollar is overvalued, the Euro is undervalued for Germany

"Whilst Trump has never been the biggest fan of the IMF, he may very well be now!"

Trump just attacked Mario Draghi — accusing the European Central Bank chief of manipulating the euro

Draghi pledged stimulus if conditions don't improve. The lower euro is "making it unfairly easier for them to compete against the USA," Trump tweeted.
The Italian flag.

Italy and the EU just struck a deal, avoiding the start of a fresh crisis for Europe

After weeks of wrangling, the two parties agreed to allow Italy to run a budget deficit of 2.04% next year. Stocks and the euro gained on the news.
(L to R): Luigi Di Maio, Giuseppe Conte, and Matteo Salvini

Italy just took a step closer to a major clash with the rest of Europe over its budget crisis

The budget proposes increasing both Italy's overall government debt and its deficit in the short run, pushing the deficit as high as 2.4% of GDP over the coming years. This means Italy will fall foul of a previously mandated deficit level of 0.8% of GDP maximum.