Christine Lagarde

Editorial: Enough is enough Chancellor Merkel!

While all of Europe is taking a socio-economic beating the German Federal Court of Justice opined that the bond-buying programme of the European Central Bank that emerged after the last debt crisis is in part unconstitutional and touches on the principles of the German (Federal) Constitution.

The current crisis is threatening to tear apart the European construct and project.

BTA: European Central Bank, National Bank of Bulgaria Set Up Swap Line

The European Central Bank (ECB) and the National Bank of Bulgaria (BNB, the central bank) have set up a swap line to ensure liquidity of up to two billion euros, the BNB said on Wednesday. The line will be in force until the end of 2020 or until needed. The maximum maturity in respect of each withdrawn amount will be three months, BTA reported.

ECB’s Lagarde: Let’s not get fixated on coronabonds

Europe should not get hung up on the idea of issuing coronabonds through a specially created European rescue fund, ECB President Christine Lagarde said in a newspaper interview published on Thursday.
"I don't think that we should get fixated on 'coronabonds'. In Europe, things take a bit more time than we would like, but we always find a solution," she told French daily Le Parisien.

Editorial: The first step

The decision of the European Central Bank to make an exception to the rule and offer Greece a waiver that will allow Greek paper though still not investment grade to be used as collateral for Greek banks to have access to ECB cash is an important step forward for the embattled Greek economy.