Slumping exports sent Germany’s economy into reverse in the second quarter, with prospects of an early recovery slim as its manufacturers struggle at the sharp end of a global slowdown amplified by tariff conflicts and the fallout from Brexit.
The ECB could return to its major programme of buying bonds next year, possibly meaning interest rates would stay low for much longer, but only if Bundesbank chief Jens Weidmann doesn’t get his hands on the top job at the central bank.
Canadian financial services company TD Securities has said the pending expansion of its Irish operations puts Dublin in the spotlight as a potential location for its wider EU activities should it move its London operations in the aftermath of Brexit.
The European Central Bank is ready to act quickly to boost anaemic inflation in the Eurozone, its president said yesterday, offering the strongest hint yet that the bank will unveil fresh stimulus measures at its December 3 meeting.
German central banker Carl-Ludwig Thiele cited economic data, freedom of choice and even Russian novelist Fyodor Dostoyevsky in a passionate defence of banknotes and coins, rejecting the rising concept of a “cashless society”.
Greece’s left-wing Syriza appeared on course last night to trounce the ruling conservatives in yesterday’s snap election and could win the absolute majority it wants to fight international creditors’ insistence on painful austerity measures.