TUESDAY, 18 FEB 2020



Facebook Linked In Twitter

Nikos Christodoulides: We Do Not Meddle With Turkish Cypriots’ Internal Matters

EIB President Confirms €230m Were Provided For Local Projects Last Year In Cyprus



Christine Lagarde: Monetary Policy Cannot And Should Not Be The Only Game In Town

Christine Lagarde: Monetary Policy Cannot And Should Not Be The Only Game In Town

European Central Bank President Christine Lagarde has urged EU member states to become more involved in supporting the eurozone economy through targeted spending and business-friendly reforms, the CNA reported.

Addressing the European Parliament plenary session for the first time to discuss the Eurozone’s economy and the ECB’s activities, Lagarde called on governments to do more to boost the economy.

Lagarde said that “"other policy areas... have to play their part” in helping the economy. She warned that monetary policy “cannot, and should not be, the only game in town.”

"The longer our accommodative measures remain in place, the greater the risk that side effects will become more pronounced”, she said, adding that “when interest rates are low, fiscal policy can be highly effective. It can support euro area growth momentum, which in turn intensifies price pressures and eventually leads to higher interest rates."

“A more resilient economic and monetary union with these elements would not just help to protect our living standards from adverse domestic and global developments,” she said. “It would also support Europe’s influence in the world, including by making the euro more attractive worldwide.”

On Wednesday, MEPs will vote on a resolution setting out their priorities on the ECB’s role in assisting the EU’s economy, and the green transition, among others.

In the resolution, the EP welcomes, among other,  the role of the ECB in safeguarding euro stability.

They express concern that after a short economic recovery, growth has slowed down to 1.1 % of GDP in the euro area. The EP is, furthermore, concerned by the decrease in growth in industrial production and world trade and notes, as underlined by Mario Draghi, the need for maintaining both appropriate liquidity conditions and a degree of monetary accommodation.

The resolution stresses that the ECB has improved its communication; believes, however, that it should continue its efforts to make its decisions available and understandable to all citizens, as well as its actions undertaken to maintain price stability in the euro area and therefore to preserve the purchasing power of the common currency.

It also invites the ECB, without prejudice to the Member States’ prerogatives, to create a system for better monitoring large transactions with a view to combating money laundering, tax evasion and the financing of terrorism and organised crime.


Number Of Students Choosing Cyprus’ Higher Education Institutions Constantly Rises

The number of students in Cyprus’ higher education institutions is constantly ...

Cyprus GDP Set To Grow Over The Next Two-Year-Period According To Commission Forecast

The economy in Cyprus will grow by 3.2% in 2019, 2.8% in 2020 and 2.5% in 2021, according ...

MONEYVAL: Cyprus AML Regime Needs Improvement

In a report published today, the Council of Europe’s anti-money laundering body ...



The Director of LSE Dame Minouche Shafik in Cyprus

The Cyprus LSE Alumni Association is proud to host a conversation with the LSE Director Dame Minouche Shafik, ‘Where is the world economy going and ...

Technology is Transforming the Mining Industry

The global mining industry has radically evolved over the last 25 years, largely due to technological advancements as well as regulations imposed by ...

Ferry Connection Between Greece And Cyprus To Be Re-Established in May 2020

Greek authorities have approved the reintroduction of a ferry connection between Greece and Cyprus, a line that stopped operating in 2000, the Greek City Times ...

Transport Minister Travels To Brussels And Stockholm For Series Of Meetings

Cyprus’ Minister of Transport, Communications and Works Yiannis Karousos will be flying to Brussels on Monday, where on Tuesday, in the framework of ...

Crystal Springs Beach Hotel Tops HolidayCheck Cyprus Hotels

The top 10 Cyprus hotel winners of the ‘HolidayCheck Awards 2020’ have been announced with the Crystal Springs Beach Hotel in Protaras taking the ...

Facebook Boss Urges Tighter Regulation On Harmful Online Content

Facebook boss Mark Zuckerberg has called for more regulation of harmful online content, saying it was not for companies like his to decide what counts as ...

EIB President Confirms €230m Were Provided For Local Projects Last Year In Cyprus

Werner Hoyer, President of the European Investment Bank, today visited Cyprus to discuss recent and future investment in the country and see how the EIB ...

Birth Rate Of Enterprises In Cyprus Saw An Increase Between 2015-2016

In 2017, according to data released by Eurostat, the number of new enterprise births in the European Union (EU) as a proportion of the total number of active ...