Monday, 17 August 2026Europe · Analysis
Independent · Brussels & Berlin
Europe · page 4 of 5
The lev disappears on 1 January after a fixed conversion rate of 1.95583 to the euro. Polls show the country almost evenly split, while the outgoing government collapsed weeks before the changeover.
The Balkan nation becomes the 21st eurozone member despite seven elections in four years, a resigned government and warnings that institutional weakness could undermine the currency's benefits.
Fund managers warn the bloc faces a fundamental choice between powering data centres and meeting emissions goals, with recent policy delays suggesting climate commitments are already softening.
The central bank revised 2025 growth to 1.4% and signalled a long pause, but Governing Council members are split on whether the next move is up or down.
Flash data from Eurostat shows consumer prices accelerating above the 2% target, with services inflation climbing to 3.5% and core holding at 2.4%, complicating the ECB's rate path.
Central bank officials are debating whether to make euro funding more widely available to foreign counterparts, a move that would mirror China's swap-line network but faces collateral constraints and Governing Council scepticism.
ECB president tells Frankfurt banking congress that dependence on foreign trade and security leaves the bloc exposed to US protectionism and Chinese resource dominance, while internal barriers equal a 100% tariff on services.
European Commission unveils plan to remove bureaucratic and physical barriers to cross-border military transport, targeting 2030 readiness as Russian threat assessments harden
With Christine Lagarde due to step down in 2027, Madrid and Berlin, the eurozone's fourth and largest economies, are quietly manoeuvring for the first time to lead the central bank, while a Dutch dark horse lurks.
The European Central Bank kept its key deposit rate unchanged for a third consecutive meeting on Thursday, judging that a modest recovery and sticky services inflation warrant patience despite price growth accelerating to 2.2% in September.
The European Central Bank kept its key rate unchanged for a third meeting, citing resilient growth and inflation near target, while warning that trade tensions and geopolitical risks cloud the outlook.
Ukrainian president joins Copenhagen summit as European leaders endorse coordinated air defence network following Russian drone incursions across northern and eastern Europe.
Lithuanian central bank governor argues Ukraine's defeat would damage the euro more than using frozen Kremlin funds, as EU leaders prepare to discuss €140 billion Euroclear proposal in Copenhagen.
MEP Fernando Navarrete has held 77 percent of his digital euro meetings with private financial firms since taking the file in July 2024, while civil society groups argue his stance protects incumbent banks.
A €500bn fund and debt brake reform were supposed to revive the eurozone's largest economy. Economists now say the spending is too slow and too much goes to rising social costs rather than investment.
The ECB president must address her homeland's mounting debt crisis while keeping deposit rates at 2 percent and avoiding any signal of market intervention.
A year after the former ECB president's report, the European Commission has launched numerous initiatives but national governments have blocked the structural changes he argued were essential.
Prime minister Sebastien Lecornu resigns after 14 hours as French borrowing costs spike and OAT yields exceed Italian BTPs, exposing a €3.35 trillion debt pile the EU has long ignored.
Flash estimate beats expectations as services inflation eases to lowest since March 2022; analysts see no rate move at next week's meeting
ECB president says French bond spreads have risen but country does not meet IMF bailout conditions, while warning Trump's attacks on Fed independence threaten global economy
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