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Breakingviews - Central banks debt monsters will need taming

Breakingviews 3 Min Read European Central Bank President Christine Lagarde leaves an EU summit amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium December 11, 2020. LONDON/NEW YORK (Reuters Breakingviews) - Central bankers will spend 2021 trying to tame the debt monsters they made in 2020. The pandemic-induced market meltdown forced Federal Reserve Chair Jay Powell to buy corporate debt for the first time, while European Central Bank President Christine Lagarde unveiled plans to spend an unprecedented 1.85 trillion euros propping up markets. Yet in helping resolve the crisis, rate-setters sowed the seeds of the next one. Central bankers’ aggressive intervention and pledge to keep rates at or below zero has already unleashed a race for risky debt. Junk-rated U.S. corporations like Occidental Petroleum and cruise provider Carnival, issued over $345 billion in bonds through early October, according to S&P Global Ratings, a record. Yields on American and Europea

2020 vision: A year in review

2020 vision: A year in review The year 2020 will go down in history as one of the most challenging in generations. Lorna Hutchinson looks back on an extraordinary twelve months. Adobe stock 23 Dec 2020 January The year kicks off on a celebratory note, as Finland, Austria and Sweden celebrate 25 years of EU membership, when they became the 13th, 14th and 15th Member States of the EU following referendums in each of the states prior to accession. Meanwhile, Brexit is at the forefront of many people’s minds as the 31 January deadline when the UK is due to leave the EU looms ever closer. EU citizens living and working in the UK as well as citizens’ rights groups and the European Parliament’s political groups express their growing concern over the impact that Britain’s exit from the bloc will have on their lives and legal status.

Simonetta Sommaruga among the 100 most influential women in 2020

Simonetta Sommaruga among the 100 most influential women in 2020 WOMEN IN POWER Simonetta Sommaruga among the 100 most influential women in 2020 Di ats 16 dicembre 2020 , 11:20 OnTheSpot Simonetta Sommaruga enters the world ranking of the 100 most influential women in 2020, drawn up by the American magazine Forbes. The President of the Confederation is placed in the 56th place. The criteria taken into consideration are money, power, influence and presence in the media. Several women were considered for the role they played in managing the pandemic, the Forbes website reads. Sommaruga is distanced from the top three, German Chancellor Angela Merkel, European Central Bank President Christine Lagarde and US Vice President-elect Kamala Harris.

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