| The European Central Bank will pump extra cash into struggling sovereign bonds and devise a new weapon to keep yields in check, as it tries to protect Italy and Greece from a potentially crippling surge in borrowing costs.
Italy’s debt-to-GDP ratio is 150 per cent and Greece’s is almost 200 per cent, compared with just under 70 per cent in Germany and 113 per cent in France.That means investors are at perpetual risk of panic over Italian and Greek borrowing costs - and a trigger came when the ECB said last week it was preparing to stop buying bonds and to start raising interest rates.
The ECB statement said the bank could now consider “preserving the functioning of the monetary policy transmission mechanism” in reinvesting funds that were otherwise earmarked strictly for combating the economic effects of the pandemic. “There is no guarantee they will reach an immediate consensus, so it wouldn’t be surprising if spreads widen some way further before policymakers are forced to act.”
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:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Energy market operator suspends spot market for wholesale electricityThe electricity market operator takes the extraordinary step of suspending the spot market for wholesale electricity. GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe Trump 2024! Didn't take long for Australia to turn to shit under AlboMP
Source: abcnews - 🏆 5. / 83 Read more »
'Impossible to operate': Electricity market suspended as energy crisis escalatesThe national electricity market has been suspended as the market operator says it has become 'impossible' to operate within the rules. The 'providers' will have banded together and now about to hold a country to ransom, all for greed. We have been shafted by an LNP govt, and we're going to feel pain ALL essential services should be govt owned.......end of this feels like a shake down & a pxssing contest. dont suppose you have any journalists that can take a bit of look, make some phone calls? or is the entire journalistic endeavor just re-printing press releases now? -JC electricity
Source: SBSNews - 🏆 3. / 89 Read more »
AEMO suspends electricity marketThe Australian Energy Market Operator said generators needed to put more supply into the grid over the next few days to avoid any load-shedding. How has Australia become a 3rd world country where citizens can no longer turn on the switch to get basic services like electricity or gas. Government must take back OUR resources from foreign owned profit driven multinationals WHO PAY NO TAX. 🤬 Australians be mad as hell. Yeah, they can carry the cost of a failed 'green washing' of our energy supplies Why would they when the price is capped and they would make a loss
Source: FinancialReview - 🏆 2. / 90 Read more »