European Central Bank President Mario Draghi renewed his call for a common bank deposit insurance scheme for the euro area on Monday, arguing that sharing a risk helps reduce it.
The EU’s Ombudsman accused the ECB of maladministration for failing to address concerns about the involvement of ECB Draghi in G30 group of financiers and economists.
ECB must be someone who can tighten the money taps after years of crisis-fighting and stimulus, the head of the Bundesbank Jens Weidmann said.
Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
Euro zone inflation hit 2 percent for the first time in more than a year in June due to surging energy and food costs, offering some comfort to the European Central Bank as it seeks to rein in its exceptional economic stimulus.
With Germany flash services PMI data also beating forecasts, the single currency rose to the day’s highs at $1.1674.
ECB officials are growing increasingly concerned that a looming trade war could derail the euro zone’s recovery.
The ECB will exercise patience over its first interest rate hike and plans to adjust policy only gradually as uncertainty is on the rise and inflation needs to increase further, Mario Draghi said.
Most government bond yields in the euro zone were steady, pausing after a hefty fall late last week after ECB signaled it would keep interest rates low.
European Central Bank Governor Mario Draghi gave a robust defense of the euro currency on Thursday and said it would be damaging to even discuss the idea of Italy leaving the currency.