Europe Economy

Financial stability risks have increased as the conflict has impacted all aspects of economic activity and financing conditions, ECB Vice President Luis de Guindos

Europe's common currency fell to as low as $1.0973 as traders weighed the impact of Russian sanctions on the European economy

The draft supplementary budget envisages new borrowing will take Germany's net debt in 2022 to 138.94 billion euros with the total government expenditure estimated at 495.8 billion euros

Russia's invasion has upended trade in energy, agricultural commodities and fertilisers and disrupted supply chains, resulting in slower growth across eastern Europe

The GDP also grew by 11.9 per cent compared to the same period last year, Xinhua news agency quoted the country's national institute of statistics (INE) as saying

"With price and financial stability risks no longer on the rise, conditions have allowed for the key rate reduction," Xinhua news agency quoted the bank as saying on Friday

The euro dropped to its weakest since 2017 after Russia halted gas supplies to Bulgaria and Poland, and investors fretted more about the region's economy

According to the latest official data, the inflation rate in Hungary stood at 8.5 per cent in March, well over the 3 per cent target set by the Hungarian National Bank (MNB)

Both sides agreed that rapid changes in the geopolitical environment highlight the need for joint in-depth strategic engagement

Western sanctions on Moscow have contributed to the price pressures, which are hitting the poorest countries the hardest

Inflation in the eurozone has been setting records for months and is at its highest level since recordkeeping for the euro began in 1997

The MSCI World Equity index was down 0.3% on the day, while Europe's STOXX 600 eased 0.2% to sit just below a one-month high hit on Tuesday

For the countries of Europe, the conflict poses existential questions

February's record 5.8 per cent inflation rate and the prospect of an even higher reading in March intensified pressure on the bank to act in line with its inflation-busting mandate

The 27-member European Union faces far more economic pain from the war and resulting sanctions than the U.S. true above all when it comes to the oil and gas that powers vehicles

Euro fell to $1.1008 in early Asia trade, its weakest since May 2020, following news Ukraine's Zaporizhzhia nuclear power plant was on fire after an attack by Russian troops

Russia has never defaulted on sovereign hard currency debt, but reserve freeze, severed financial ties, politics pose risk ; Moscow has stopped payments on local sovereign bonds already

Oil prices surged, with Brent crude touching $113.02 - its highest since 2014 - and U.S. crude coming close to passing its 2013 peak

European stock indexes were in their second day of falls, with the STOXX 600 down 0.7% at 0857 GMT, while Germany's DAX was down 1.2% on the day

European stock indexes were in their second day of falls, with the STOXX 600 down 0.7% at 0857 GMT, while Germany's DAX was down 1.2% on the day