Word: ecb
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That kind of talk has mobilized political leaders across Europe - many of whom are now screaming for European Central Bank (ECB) authorities to intervene with measures to bring exchange rates back into balance. French President Nicolas Sarkozy in particular has been scathing in his demands that the ECB drop its obsession with controlling inflation and, instead, introduce measures that would allow European economies to expand faster. As part of that, the French are calling on the ECB to reduce its benchmark lending rate of 4% in much the way the U.S. Federal Reserve has in the past months. That move...
...their haul would have reduced by over 85% - a small enough stash to stuff under the seats of an suv and drive undetected across borders. The euro is even more attractive to crooks when you consider that it is now the world's second currency. The European Central Bank (ecb) has issued about €570 billion ($720 billion) in paper money, which means, for the first time, another currency outweighs the dollar beyond U.S. borders. The euro's use is encouraged in developing-world countries that do business in Europe, so it's easy to move dirty cash through them...
...last five years, the Euro area, comprised of the 12 EU countries that have shared a common currency since 1999, has been incomprehensibly ruled (by the “stability and growth pact” and the European Central Bank (ECB)) like a collection of competing small economies, open to trade and investments but closed to macroeconomic stabilization and increasingly resorting to tax and social competition. The result has not only been slow regional growth and persistent unemployment but also growing divergence among member states and rising political tensions. The ECB, the most unaccountable central bank in the world...
After years in slow motion, European economies are showing signs of a modest revival: business confidence is buoyant, investment is rising and the Continent's thrifty consumers are even loosening their purse strings a little. But the European Central Bank (ECB) is not cheering. Last week, ECB president Jean-Claude Trichet confirmed to the European Parliament that the bank is planning to raise interest rates in the near future to combat what it sees as growing inflationary pressures. The first hike could come as early as this week. Trichet insisted that rate rises will be limited in scope and that...
...growing number of politicians on the Continent fear the answer is yes, and last week urged the European Central Bank (ECB) to help out. According to official estimates, the euro zone grew by 0.3% in the third quarter? - less than expected and half the pace registered in the first six months. Prime Minister Silvio Berlusconi and other Italian officials called for coordinated intervention by central banks to support the dollar, which briefly dropped to a low of $1.30 against the euro, hurting European exports. Wolfgang Clement, the German Economy Minister, said the European Central Bank should "do its part...