This tag highlights content related to economic systems, trends, and impacts — including topics such as macroeconomic analysis, financial markets, economic policy, and sustainable growth.
“The war in Ukraine is severely affecting the euro area economy and has significantly increased uncertainty,” Christine Lagarde, President of the European Central Bank (ECB), said after its Governing Council met on Thursday afternoon. The ECB restated its intention to conclude bond buying in the third quarter. With inflation at
Romania is rolling out a EUR 3.4 billion part-EU-funded assistance package to help struggling companies and families amid the economic downturn caused by Russia’s invasion of Ukraine. Under the “Support for Romania” measures that Prime Minister Nicolae Ciuca unveiled on Monday, firms impacted by the war
The war in Ukraine is set to inflict twice the amount of economic damage that the COVID-19 pandemic did, the World Bank says in its new report that includes detailed outlook analyses for Poland, Bulgaria, Croatia and Romania. According to the Washington-based lender’s ECA Economic Update Spring
The EU banned Russian seafaring vessels from entering European ports, as it approved its fifth tranche of sanctions against Russia on Friday. The bloc also embargoed Russian coal supplies from August and enforced restrictions on all transactions with four major Russian banks. “We are proposing a fifth package of sanctions,
The Hungarian Ministry of Finance took the unusual step of issuing a public statement aimed at international investors on Friday. After Sunday’s celebrations, Hungarian Prime Minister Viktor Orban woke up to a grim domestic economic reality that includes a plummeting forint, rocketing prices and rule of law disputes that
At an emergency NATO summit in Brussels on Thursday, US President Joe Biden said that the defence alliance had “never been more united” even though Russia’s Vladimir Putin was counting on dissension among its members over his invasion of Ukraine, according to Euronews. Biden commented, “Putin is getting exactly
Ukrainians are going through a “living hell”, UN Secretary-General Antonio Guterres said on Tuesday, in what he termed an unwinnable war in Ukraine, the Guardian reported. “Sooner or later it will have to move from the battlefields to the peace table”, Guterres said of the war. “That is inevitable.
The BBC reported that Russian troops were holding 400 doctors and patients captive in a hospital in the coastal city of Mariupol on Tuesday evening. In a separate development, the city’s local authorities said that around 2,000 cars were able to leave the besieged city, and the ICRC
While the Hungarian forint was hardest hit, all the currencies of the Central and Eastern Europe (CEE) region are suffering adverse effects as a result of the war in Ukraine. Proximity to the war zone, dependence on Russian gas and the impact of EU sanctions combined to commence the CEE
US troops will not fight in Ukraine, but would defend “every inch of NATO territory” US President Joe Biden said on Friday. “A direct confrontation between Nato and Russia is World War III,” wrote Biden on Twitter. Russia attacked cities across Ukraine on Friday. Russian forces incessantly bombarded the northeastern
Delegations from Ukraine and Russia were unable to broker a 24-hour ceasefire in their meeting on Thursday morning in Turkey. While Ukraine’s Foreign Minister Dymetro Kuleba said such a ceasefire would be necessary for urgent humanitarian issues, his opposite number Sergei Lavrov commented after their meeting the West’
Ukraine’s President Volodymyr Zelensky is calling Russian forces bombing on Wednesday of a 600-bed children’s and maternity hospital in the port city of Mariupol “genocide”. Ukrainian authorities say the facility has been “completely destroyed” – 17 people were wounded, writes the Guardian. “Hospitals and schools are destroyed. Churches
Calling Russia’s invasion of Ukraine “a tectonic shift in European history”, the European Union is working out how to wean itself off of imports of Russian oil, gas and coal and diversify its sources of energy while speeding up the development of renewables. Half of the gas and coal
On early Friday, Al Jazeera reported that Russian forces had sent missiles into Kyiv and other locations in Ukraine. Stating that Putin “must and will fail”, the European Union has agreed severe sanctions on Russia. Namely, this means the EU will freeze Russian assets within the Union. Also, Russian banks’
The European Union’s top court ruled that it can reduce funds to member states over rule of law concerns, rejecting a legal challenge from Poland and Hungary, on Wednesday. Hungary called the verdict “an example of how Brussels is abusing its power”, while Poland condemned the Court of Justice