Macroeconomic round up: More speed-bumps in Europe
Join NBR's Jason Walls for Macroeconomic round up, on NBR Radio. With special feature audio.
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The war of words between German officials and the European Central Bank has escalated, with the bank’s president again coming down hard on the Germans.
Mario Draghi this week said Germany was responsible for what he called a ‘global savings excess’ which led to ultra-low interest rates.
This follows the European Central Bank (ECB) coming under fire from Germany for its low, saver-punishing rates.
Mr Draghi countered this by saying the ECB has a “mandate for the whole eurozone, not just Germany.”
Lower expectations of economic growth added to eurozone's economic woes this week.
The European Commission announced the eurozone’s GDP is now forecast to expand just 1.6% this year, down 0.1% on last year’s figure.
“The economic recovery in Europe continues but the global context is less conducive than it was," Commission vice-president Valdis Dombrovskis said.
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Thu, 05 May 2016
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Macroeconomic round up: More speed-bumps in Europe
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