LATEST NEWS : Draghi Devaluing Euro Cheers ECB as Inflation Seen Fading

Mario Draghi’s strategy for reviving the euro area looks like devaluation. While the European Central Bank president says the exchange rate isn’t a policy target, officials aren’t secretive about their approval of the currency’s almost 10 percent slide. The depreciation increases the cost of imports and boosts exporters’ competitiveness, aiding the effort to revive inflation […]

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ECB Keeps Rate at Record Low as Officials Weigh Forecasts

he European Central Bank kept its benchmark rate unchanged at a record low after policy makers assessed new economic forecasts. The Governing Council meeting in Frankfurt today left the main refinancing rate at 0.25 percent after cutting it by a quarter point last month. The decision was predicted by all 60 economists in a Bloomberg survey. […]

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Draghi Seen Putting Words Before Action on ECB Policy

“Mario Draghi is likely to rely on the power of his voice rather than new policies to steer Europe’s banks through the early stages of an economic recovery. The ECB president will hold off from pumping more cash into the currency bloc’s financial system as long as the threat of action keeps market interest rates […]

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Germans Hide Cash in Diapers as Swiss Secrecy Crumbles

“Germans who avoided taxes by keeping money in Switzerland are bringing wads of cash home and hiding it in odd places. With Swiss banks the target of an international crackdown against tax evasion, the government wants the industry to stop managing undeclared funds. This requirement, combined with high-profile cases such as Bayern Munich President Uli […]

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Merkel Recalls East German Collapse as Warning for Europe

“Chancellor Angela Merkel said the economic collapse of East Germany should serve as a lesson for Europe, since there’s no alternative to hard work to remain globally relevant. Merkel, addressing a campaign rally yesterday in the eastern town of Finsterwalde, south of Berlin, flaunted her credentials as a fellow one-time citizen of the former German […]

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