While the European Central Bank and the U.S. Federal Reserve have vowed to do all it takes to prevent a banking crisis, there are fears of a bad situation becoming much worse.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Mar 28 2023
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LAGARDE WARNS OF WAGE-PRICE “TIT-FOR-TAT DYNAMIC”
Europe risks a “tit-for-tat dynamic” between workers and employers as each pushes for higher incomes to escape inflation’s bite, Christine Lagarde, president of the European Central Bank (ECB) warned at a German financial conference last week.
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BUNDESBANK BOSS SAYS ECB MUST KEEP RAISING INTEREST RATES
The European Central Bank (ECB) must remain “stubborn” and continue to raise its interest rates to bring inflation to heel, Joachim Nagel, president of Germany’s Bundesbank and Europe’s chief rate hawk, said in a public statement after the bank bumped its rate by a half-point on 16 March.
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INFLATION UP IN U.K., LIVING STANDARDS DECLINE
According to “experts,” it wasn’t going to happen. Inflation in Great Britain ticked up in February to 10.4 percent after finishing January at 10.1 percent, according to the Office for National Statistics reported.
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TOP TREND 2023, GOING GREEN LIKE IT OR NOT: EUROPEAN COMMISSION PROPOSES “GREEN DEAL”
A “green deal” industrial initiative proposed by the European Commission (EC) would see a minimum of 40 percent of the green energy technologies installed in European Union (EU) countries in 2030 made by businesses located there.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
This is week 34 of our reporting the long trend-line of layoffs that signal recession in a country near you. To illustrate the depth and range of the layoff trend we note that Recruit Holdings, owner of online job placement service Indeed, is laying off about 2,200 workers or about 15 percent of its staff.