While the years since the debt crisis have seen the 19 countries in Europe's euro area centralise and toughen bank controls, many planned economic reforms in Italy and elsewhere were watered down as vast money printing buoyed the economy.
Now, however, rocketing prices, triggered by that money printing, as well as soaring energy costs in the wake of Russia's invasion of Ukraine and pandemic lockdowns in China, makes this feat difficult to repeat. Speaking to students in London, Lagarde gave no further clues as to how ECB action could look, talking instead about climate change and the impact of war on global grain supplies.The divisions in the euro zone are likely to come to the fore at a ministers' meeting later on Thursday to discuss a deadlocked plan to reinforce the bloc's financial system.
"If there is a bank failure, it will be the same as 2008," he said, adding that individual states rather than the wider bloc would be left to shoulder the burden. "The Draghi period is over." That lack of progress with a banking union, in turn, has weighed on the stocks of Europe's banks, which have been trailing their U.S. rivals for years.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Market Sheds $80B in Hours: BTC Struggles at $20K, ETH Amid $1K (Market Watch)The crypto markets have seen another $80 billion gone as BTC fights to stay above $20,000 and ETH is at just over $1,000.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Bitcoin, Ethereum Technical Analysis: BTC Falls to $20,000 Range, as Sell-Off Extends – Market Updates Bitcoin NewsBitcoin declined for an eighth consecutive session on Tuesday, as the crash in crypto markets continued. ETH dropped to $1,000. Why everybody is silent about this? Moin. Biste jetzt erst wach geworden🤣 Who's dominating now? $PAW
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower Ahead of Federal Reserve Rate Decision – Market Updates Bitcoin NewsETH was close to falling below $1,000 on Wednesday, as markets began to prepare for the latest Fed policy meeting. If it is less than 1000, then this is a psychological blow that will lead to further falls, and the falls will obviously accelerate I believe it won’t go below $1,000 $PAW ETH soon 800
Source: BTCTN - 🏆 531. / 51 Read more »
Asian stocks slide as Fed hike fears tip Wall St into bear marketAsian shares slid sharply and the safe-haven dollar held near a two-decade peak on Tuesday after Wall Street hit a confirmed bear market milestone on fears aggressive U.S. interest rate hikes would push the world's largest economy into recession.
Source: Reuters - 🏆 2. / 97 Read more »
Asian benchmarks decline after bear market hits Wall StreetAsian shares fell across the board after Wall Street tumbled into what’s called a bear market, indicating that major U.S. benchmarks and individual stocks have fallen 20% or more from a recent high for a sustained period of time. JoeBiden complete failure Thanks Joe, more importantly thank you everyone that was so offended by mean tweets
Source: AP - 🏆 728. / 51 Read more »
U.S. Futures Rise After S&P 500 Slides Into Bear MarketStock futures rose, suggesting U.S. markets were poised for a modest recovery after a rout Monday that sent the S&P 500 into a bear market, while shares in Asia recouped some early losses.
Source: WSJ - 🏆 98. / 63 Read more »