How likely is a Lehman-like crisis?

Do the almost simultaneous bank crises on the opposite sides of the Atlantic imply a disaster like the Lehman Brothers collapse? Let’s start from the United States. Banking crises start suddenly but they typically have long-term causes.

Bulgaria scraps January 2024 target for adopting euro

Bulgaria is scrapping its target to adopt the euro in January 2024 as it fails to meet some criteria, but should seek to join the common currency by 2025 or possibly earlier, Finance Minister Rossitsa Velkova said on Friday.

Staikouras: Eurogroup decision easing Greek debt is historic

The Eurogroup has reached a historic landmark decision for Greece, Finance Minister Christos Staikouras said on Tuesday, referring to the decision by the economy and finance ministers of the eurozone to ease Greece’s national debt by some 6 billion euros. Speaking to the Greek Parliament through a teleconference from Brussels, Staikouras said: “Today is a […]

Inflation eases in Europe, but still in double digits

Inflation in the 19 countries that use the euro currency eased to 10% this month as fuel and utilities drifted down from painful highs, but it is near the record levels that have robbed consumers of spending power and led economists to predict a recession.

ECB meeting this week in Cyprus

Nineteen central bank governors from European Union countries are expected to arrive in Cyprus on Tuesday. The Governing Council of the European Central Bank decided to hold its non-monetary policy meeting in Cyprus, scheduled for Wednesday and Thursday, and to be chaired by ECB President Christine Lagarde.

Inflation hits record 10% in 19 EU countries using euro

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power.