🇷🇴President @NicușorDanRO and 🇮🇹PM @GiorgiaMeloni brought together 17 🇪🇺MS in the #FriendsOfCohesion Group around a common goal for 2028-2034 🇪🇺 budget: keeping #CAP and #CohesionPolicy as priorities, alongside investment in security, competitiveness, connectivity and resilience.
Ο Διοικητής Γιάννης Στουρνάρας #live με την Πρόεδρο της @ecb Christine @Lagarde για τη σημασία της χρηματοοικονομικής εκπαίδευσης & της ισότητας των φύλων.
🗓 2 Μαρτίου
⏰16:00 – 17:30
Δείτε εδώ:
🔗https://t.co/diShcYw0FU
#InternationalWomensDay#FinancialLiteracy
🇬🇷 At the end of last week, ESM MD @pierregramegna sat down with @ralexop, in an interview for @ertnewsofficial, discussing the challenges Europe faces, ESM's role, and recent economic developments in Greece.
👉 Link: https://t.co/RIxl3pwzx4
Another historic landmark under @eu2023es!
@EUCouncil has agreed on a new Economic governance framework that ensures both stability and growth, with rules that are:
🔹 Balanced
🔹 Realistic
🔹 Fit for present and future challenges
#EU2023ES
Συγχαρητήρια στην Ελλάδα👏- @EU_Commission endorses 3rd payment request in 🇬🇷 #RRF recovery plan:
📌boosting electromobility
📌energy-efficient building renovation
📌loans to support private investment in green/digital
It paves way for payment of €3.6 billion.
Well done Greece!
Κρ. Λαγκάρντ στην ΕΡΤ: Απότελεσμα σκληρής δουλειάς, μεταρρυθμίσεων και προσήλωσης η επενδυτική βαθμίδα, οι Έλληνες θα συνεχίσουν https://t.co/nTNpGervDA
The financial rulebook that binds the euro zone is in need of an overhaul after public debt surged -- but governments with competing strategic visions can't agree on how exactly to go about it https://t.co/x6QEzWAsUK
Global Central Bank Update:
-The Fed hiked rates for the 9th time, 25 bps increase to 4.75-5.00%. This is now the highest Fed Funds Rate since September 2007.
-Hong Kong: 25 bps hike to 5.25% (9th hike)
-Saudi Arabia: 25 bps hike to 5.50% (9th hike)
Good morning from #Germany where German banks have direct financial exposure to #Switzerland's banks of at least $11.5bn. Thus, there are likely to be some casualties affected by the wipeout of Credit Suisse CoCo bonds of the volume of $17bn.
Timeline of Credit Suisse, $CS, Collapse:
- 2009: Fined $536 million for bypassing US sanctions
- 2014: Fined $2.6 billion for evading US taxes
- 2021: Lost $5.5 billion due to risky exposure to Archegos fund failure
- 2021: Froze $10 billon in funds due to Greensill collapse
- 2022: Pleads guilty to defrauding investors over $850 million loan, fined $475 million
- 2023: Delays annual report to address accounting concerns from the SEC
- 2023: Saudi National Bank said they won't provide further financial support
- 2023: US Treasury and ECB announce they are monitoring CS situation
Now, Credit Suisse is asking the Swiss Central Bank for support.
Their Credit Default Swap premiums are trading above 2008 levels.
At this point, they have dug their own grave.