EU woes could still wash up on our shores
Vast differences in the abilities of eurozone members to cope with government debts will cause huge economic rifts
24 April 2021 • 7:00pm
The European Union is starting to recover – and that matters. The 27 EU members boast a combined annual GDP of $18.2bn (£13.1bn), equivalent to the second-biggest economy on earth.
Two fifths of the UK’s exports go to the EU – down from three-fifths 20 years ago, but still hugely significant. In January, as the Brexit transition ended, our EU exports plunged 42pc – widely reported as “proof” Britain was wrong to leave.
The 46pc February bounce back showed that, after heavy pre-Brexit stockpiling in November in December, January’s fall in exports was actually inventory unwind. The EU’s “Kent variant” ban on UK lorry traffic and petty post-Brexit bureaucracy, not least at French ports, also didn’t help.
London open: ECB bond purchase programme in focus
Thu, 22nd Apr 2021 08:13
(Sharecast News) - Stocks have started Thursday s session higher ahead of the European Central Bank s policy decision, the main risk event of the day, with investors especially focused on anything that it might have to say on the possible exit of its Pandemic Emergency Purchase Programme.
The ECB was set announce its policy decision at 1245 BST, followed by the press conference with its chief, Christine Lagarde, at 1330 BST.
Commenting on how markets were approaching the ECB meeting, Michael Hewson, chief market analyst at CMC Markets UK, said: At the last meeting ECB President Lagarde said the bank would step up the weekly purchase program in an attempt to keep a lid on yields, however some members are already calling for the program to end by March 2022, and investors will be keen to see how she navigates any questions on the various diverging views on the governing council over when the program ends.
London midday: Stocks hug flatline ahead of ECB decision
Thu, 22nd Apr 2021 12:28
(Sharecast News) - London s top-flight index was hugging the flatline come midday, ahead of the European Central Bank s policy decision, the main risk event of the day, with investors especially focused on anything that it might have to say on the possible exit of its Pandemic Emergency Purchase Programme.
The ECB was set announce its policy decision at 1245 BST, followed by the press conference with its chief, Christine Lagarde, at 1330 BST.
Commenting on how markets were approaching the ECB meeting, Michael Hewson, chief market analyst at CMC Markets UK, said: At the last meeting ECB President Lagarde said the bank would step up the weekly purchase program in an attempt to keep a lid on yields, however some members are already calling for the program to end by March 2022, and investors will be keen to see how she navigates any questions on the various diverging views on the governing council over
By Burhan Khadbai
22 Apr 2021
At the press conference following the European Central Bank’s Governing Council meeting on Thursday, Christine Lagarde, the president of the ECB, said it was too early to consider gradually winding down the Pandemic Emergency Purchase Programme.
Lagarde said the ECB’s Governing Council “did not discuss any phasing out of PEPP” during Thursday’s meeting “because it was simply premature”.
She said a reduction in PEPP purchases was “data dependent” on the inflation outlook and financing conditions of the eurozone.Lagarde said that while “there are
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