Tag: Europe

Financial markets could face a sharp downturn in the event of any further shocks to the global economy, European Central Bank Vice-President Luis de Guindos told CNBC on Wednesday.

Confidence among businesses and consumers in the eurozone sank in May by more than expected, indicating that the economic revival after 2022’s energy-price shock has started to fade.

A digital euro could be launched in three or four years but banknotes will be available as long as there is demand for them, Fabio Panetta, a member of the European Central Bank’s Executive Board, told Les Echos.

The contrast between the services and manufacturing readings were already outlined earlier by the French and German reports.

The European Central Bank will have to keep raising interest further to bring inflation back to its mid-term goal of 2% though most of the tightening has already been done, ECB’s Vice President Luis de Guindos said on Thursday.