Canada ECB remains on alert in the corona crisis
Corona shock in medium-sized companies after a “brilliant decade”
More than a million jobs are in danger at medium-sized companies as a result of the corona crisis. This is the result of a study by the state development bank KfW. © Jens Büttner / dpa-Zentralbild / dpa Numerous medium-sized companies - such as an iron foundry here - are suffering from the Corona crisis. Accordingly, 16 percent of small and medium-sized companies plan to reduce the number of employees this year in order to cut costs.
The European Central Bank (ECB) is keeping further emergency measures open in the corona crisis. Initially, both the multi-billion dollar bond purchase program and interest rates will remain unchanged, as the Governing Council decided.
The central bank president Christine Lagarde, who has been in office for a year, recently emphasized: "If more has to be done, we will do more."
Recently there have been increasing signs that the economic recovery in the euro area is stalling. The corona virus is spreading massively again. In many countries, public life is being restricted again. Many economists assume that Europe's monetary authorities will step up again in the fight against the economic consequences of the pandemic.
Elga Bartsch: Blackrock economist on Lagarde: “Very well steered through the crisis”
Elga Bartsch considers it irrelevant that ECB boss Christine Lagarde is not an economist. Your political experience, however, is very important. © Blackrock The Blackrock economist's interim results for ECB President Christine Lagarde are positive. 54-year-old Elga Bartsch has been head of macro research at the Blackrock Investment Institute (BII) for two years, whose management and advisory group includes a number of former top central bankers. Ms.
In the December meeting of the ECB Council (December 10th) the ECB could expand its emergency purchase program for government and corporate bonds again. Then the central bank has the latest forecasts on the development of the economy and inflation. So far, the PEPP (Pandemic Emergency Purchase Program) has estimated 1.35 trillion euros until at least the end of June 2021.
Video: Second corona wave is burdening the economy (dpa afx)
The ECB has little leeway when it comes to interest rates. The key interest rate in the euro area has been at a record low of zero percent for four and a half years. Commercial banks have had to pay interest since mid-June 2014 when they park money at the central bank. This deposit rate is currently at minus 0.5 percent. Exemptions for certain sums are supposed to relieve the banks.
Embarrassing costume errors in famous films
And it's that time again! With her latest post, Carmen Geiss (55) got herself into trouble from the fans again. Only recently, the wife of millionaire Robert Geiss (56) had a shit storm. The reason was her corona infection in July, which she now made public. Now the blonde is once again exposed to criticism - and again due to the Corona crisis.
According to the Bundesbank, the negative interest rates have so far not been a problem for Germany's banks. However, in a mixture of economic downturn, increasing risk provisioning and shrinking equity buffers, the probability is increasing that a point will be reached at which negative interest rates lose their effect or they turn into their opposite.
With its monetary policy, which has been expansionary for years, the ECB wants to stimulate the economy and come closer to its goal of a stable price level with inflation just below 2.0 percent. Environmentalists accuse the ECB of buying too many securities from companies in its multi-billion dollar bond purchases, which are harmful to the climate. The globalization-critical network Attac therefore called for a demonstration in front of the ECB building in Frankfurt on Thursday.
A comprehensive review of the monetary policy strategy is ongoing. Among other things, ECB President Lagarde relies on dialogue with critics. The Frenchwoman, who took office on November 1, 2019, also wants to give room to climate change in the considerations.
Application deadline for Corona aid for professional sports extended .
Professional sports clubs will have more time to apply for Corona aid from the federal government's 200 million euro fund. © Christoph Soeder / dpa Federal Interior Minister Horst Seehofer (CSU) has extended the deadline for Corona aid to November 11th. Federal Interior Minister Horst Seehofer (CSU) extended the deadline for applications to November 11th, a spokesman for the ministry responsible for sports announced on Friday. Originally, the registration deadline would have been October 31st.