European Central Bank

Staikouras not pessimistic after three agencies reduce Greek outlook to 'stable'

After three major international rating agencies downgraded the outlook of the Greek economy from "positive" to "stable" within 24 hours due to the impact of the COVID-19 pandemic, Greek finance minister said on Friday that "our reading of the report is not negative."

Bond yields ease in
 southern countries

Southern European bond yields fell by about 10 basis points on Friday as markets remained focused on European Central Bank action to mitigate eurozone economic stress and prevent Italy's credit rating from tumbling into junk territory.
European Union leaders agreed a 1.5-trillion-euro rescue package but delayed a decision on the program's details until the summer.