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Twenty-five years ago, on December 15, 1995, the fifteen heads of state and government of the then EU decided at a council meeting in Madrid to name the future common Continue Reading
Twenty-five years ago, on December 15, 1995, the fifteen heads of state and government of the then EU decided at a council meeting in Madrid to name the future common currency the “euro” and to introduce it from January 1, 1999, initially as a book currency at a fixed exchange rate. The actual introduction of cash took place in 2002. Denmark, Great Britain, and Sweden, however, retained their national currencies and still do today.
By Burhan Khadbai
16 Dec 2020
The European Stability Mechanism and the European Financial Stability Facility have released their funding outlooks for next year, with both issuers set to borrow €3bn less than in 2020.
EFSF and ESM will look to borrow €16.5bn and €8bn respectively in 2021, compared with the €19.5bn and €11bn they raised this year.EFSF will frontload its issuance next year by aiming to raise €7bn in the first and second quarters, with the remaining €2.5bn to be funded
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