The giant blue statue of the euro in the heart of Frankfurt’s financial district has a new sponsor. According to Reuters, the future of the statue was endangered when the banks responsible for its maintenance refused to finance it. The statue’s owner, the Frankfurt Cultural Committee, has identified a new sponsor, saving the 14-meter-tall object…
At the end of September, a meeting of EU energy ministers is planned. They will discuss the current energy crisis. The European Commission is pushing forward the idea of imposing the so-called windfall tax, i.e. tax on windfall profits. This idea has been criticized by experts. On September 30, an extraordinary meeting of EU ministers…
The European Central Bank (ECB) raised interest rates unprecedentedly and hinted at further increases in the future. The ECB raised the rate on deposits from 0 to 0.75%, and the refinancing rate to 1.25%, the highest level since 2011. Rates are expected to rise in October and December as well. Although the EU economy is…
According to preliminary estimates, annual inflation in the 19 countries accelerated to a record 9.1% in August. Foreign media publish the mentioned figures based on Eurostat. The rate of last month, July, was 8.9%. Thus, inflation in the Eurozone reached a historical high again. Analysts polled by the portal DailyFX expected the inflation rate of…
Most of the branches of Credit Suisse, the leading Swiss investment bank, are at risk of collapse due to a drop in income in the first half of this year. Bloomberg reports that up to 2/3 of the bank’s branches may be closed in the worst case. According to it, the investment bank could not…
The list of crises threatening businesses is growing every day. As it turned out, among the future crises that business leaders must prepare their companies and organizations to deal with, the economic impact caused by climate change was included. Moreover, experts call on leaders to take immediate action. However, in addition to climate change, the…
The Ministry of Agriculture of France predicts the recovery of the country’s wine production after the agricultural sector was hit by the frosts of 2021. However, there is still a threat of a reduction in the volume of production due to drought in the country. This year, in most regions of France, compared to last…
Italy plans to approve a new aid package worth about 14.3 billion euros ($14.5 billion) to help protect businesses and households from rising energy and consumer prices. The scheme, one of Prime Minister Mario Draghi’s last major moves ahead of next month’s national election, is on top of around 33 billion euros budgeted since January…
The lower Chamber of the French Parliament has approved a package of 20 billion euros to reduce inflation, as well as tax benefits to help families. Reuters reports. The lower house last week already approved a package of anti-inflation measures, which include an increase in pensions, a temporary cap on rent increases and an increase…
According to Bloomberg, for the first time since the pandemic lockdown of early 2021, private sector activity in the eurozone has unexpectedly declined. “A sharp loss of new orders, job losses and worse business expectations all point to a pace of decline gathering further momentum.” “The biggest concern is the dire manufacturing situation, with manufacturers…
