When Greece’s debt crisis struck in 2009, George, owner of a jewellery shop outside Athens, found himself saddled with a new €100,000 loan just as his business turnover plummeted.
Tag: European Markets
The euro zone economy is in the midst of a mid-sized inflation shock, with inflation holding above 3% for the rest of the year, a situation that requires a “measured” policy response, European Central Bank Chief Economist Philip Lane said on Friday.
Switzerland goes to the polls on June 14 to vote on whether to cap its population at 10 million people in a referendum some have likened to a “Swiss Brexit”, alarming many businesses who fear an economic blow should the proposal succeed.
Britain’s jobs market cooled rapidly in May after employers put the brakes on permanent hiring after the Iran war heightened cost pressures and uncertainty about the economic outlook, an industry survey showed on Monday.
The ECB should raise interest rates in June, even if ongoing peace talks with Iran yield a deal, as the conflict has been far longer than projected and high energy prices are spilling into the broader economy, board member Isabel Schnabel said.