Eurozone

The 48 hours of the Lenders with the Greek Government – What happened

Negotiations between Institutions and Greece came to an end. In view of the 12th assessment of the Greek economy, which is under strict supervision, the European institutions and the Greek governement discussed every single issue, focusing mainly on the financial issues, the public debts to individuals, the auctions and the bankruptcy law.

The Eurogroup verdict

Inflation in the Eurozone Reached a 13-year High

Inflation in the Eurozone reached a record 3.4% for the last 13 years in September, according to Eurostat data. This is an increase of 0.4% compared to August. Core inflation, excluding food, energy, alcohol and tobacco, rose to 1.9% from 1.6% in August. The European Central Bank (ECB) expects the rate to rise to 4 by the end of the year, which would exceed the bank's target twice.

Skyrocketing Energy Prices Are Worse than Pandemic and Will Stay Longer

The crisis with surging prices of energy sources is worse and will take longer to be resolved compared to the Covid-19 pandemic slowdown and the supply bottlenecks for major industries, European Central Bank President Christine Lagarde said in an interview for CNBC.

EU Finance Ministers Meet in Slovenia Friday Saturday to Amend Budget Spending Rules for Member States

European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.

Now, the European Union faces calls to loosen its budget rules to allow the largesse to continue, but the topic is a sensitive one for many member states.

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