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We have had two announcements of central banks in Europe. The Bank of England with a new boss, Mr. Carney, made the first one. The second one was made by the ECB. The Bank of England mentioned that forward guidance and intermediate thresholds...
Last week’s meeting of EU finance ministers brought about new rules on bank collapses. The new rules are definitely inspired by Cyprus event. Under the new regime, banks’ creditors and shareholders would be the first to take losses....
Mario Draghi intervened verbally once again and does not hesitate to say anything. He said that the ECB is considering further non-standard monetary policy tools and will deploy them if circumstances warrant. He is also aware of the fact that...
This year‘s Tax freedom day fell on June 1st according to analysis of the F. A. Hayek Foundation and Slovak Taxpayers Association. While last year Tax Freedom Day fell on June 1st, this year Slovaks will work for the state a little longer....
The hearing in front of the German Constitutional Court about the legality of the Outright Monetary Transactions (OMT) scheme of the ECB was on Tuesday and Wednesday, but the final verdict is not expected before autumn. In reaction to the German...
ECB decided not to make any changes to the policy and all rates remained unchanged. Mario Draghi said that ECB sees 0.6 % decline in GDP within Eurozone in 2013 and some downside risks persist in the economic outlook. On the other hand, he reconfirmed...
The European Central Bank warned about the risk of a renewed banking crisis. The main reasons behind it are the euro zone’s slumping economy and a surge in problem loans. The logic is simple. Prolonged recession will make many borrowers unable...
Does Europe remain focused on austerity and structural changes as its preferred strategy to deal with crisis? Most likely not. Why? On Wednesday, the European Union statistics office noted that 9 of 17 euro-zone member states are now in recession,...
1. Brief Description of the Problem: Citizens’ dissatisfaction with the quality of roads and related services. 2. Country: USA 3. Type of local government: City 4. Name of local government: Laguna Niguel, California 5....
The ECB cut basic rates last week to proceed with verbal interventions this week as well. Mario Draghi said that they are ready to cut interest rates again, if needed, and that they will accommodate the policy to the data that arrives from the...
