Archive | 7:03 pm

€5 bill gets new haircut

10 Jan

On 10 January 2013 Mario Draghi, President of the ECB, unveiled the new €5 banknote at the Archaeological Museum in Frankfurt am Main. The €5 banknote is the first banknote in the Europa series to be introduced and will be issued on 2 May 2013 across the euro area. Continue reading

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ECB monetary policy decisions

10 Jan

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively.

2013 Could Be A Watershed Year

10 Jan

Sovereign Ratings

After more than three years of economic, financial, and budgetary stress in the European Economic and Monetary Union (eurozone), especially on its so-called “periphery”, some signs of stabilization emerged in the latter half of 2012. Is this a sign that the financial and economic troubles leading to the rating downgrades of 12 of the 17 eurozone member states since the onset of the crisis may have run their course? We believe that 2013 could be a watershed year for the eurozone debt crisis. It could mark the start of the region sustainably overcoming the market volatility and fragmentation that has affected it over the past few years. It could also see the return of some so-called “program countries”–member states that have borrowed from the European Stability Mechanism (ESM) or the European Financial Stability Facility multilateral loan programs–such as Ireland and Portugal, to more substantial primary issuance in the capital markets. Continue reading

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