Europe began a new campaign to shield economies from the coronavirus as the region’s two main central banks either delivered or signaled action to avoid a 2008-style crisis, and German Chancellor Angela Merkel promised to do “whatever is necessary”.
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.
Germany’s economy minister said he believed the Russian-backed Nord Stream 2 pipeline can go ahead while preserving Ukraine’s vital interests, but that Berlin is also in talks to diversify its energy supply with liquefied natural gas.
Leaders of the world's top economic powers have reaffirmed their support for free trade but tempered the statement by acknowledging countries could defend their home companies and markets against unfair practices.
Irish bond markets, along with other debt markets in Europe, traded wildly yesterday, while CRH rose again on stock markets as investors tried to second-guess the effects of the unexpected election of Donald Trump will have on Europe’s politics and companies.