Debt Crisis Responsible For EU Economic Woes - European Central Bank
Nov 20, 2019 ·
1m 53s
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Signs of excessive financial risk-taking as well as a slowdown in bank profitability are some of the biggest challenges in the euro area, the European Central Bank (ECB) said on...
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Signs of excessive financial risk-taking as well as a slowdown in bank profitability are some of the biggest challenges in the euro area, the European Central Bank (ECB) said on Wednesday. The eurozone has been struggling to grow in the aftermath of the sovereign debt crisis of 2011. The ECB, which oversees monetary policy across the 19-member region, has adopted several stimulus measures since then to boost the economy. In 2018, the ECB decided to scale back some of that stimulus amid improved data. However, the central bank returned to its easing stance in full force in September this year as prices and growth rates are treading water. Signs of excessive financial risk-taking as well as a slowdown in bank profitability are some of the biggest challenges in the euro area, the European Central Bank (ECB) said on Wednesday. The eurozone has been struggling to grow in the aftermath of the sovereign debt crisis of 2011. The ECB, which oversees monetary policy across the 19-member region, has adopted several stimulus measures since then to boost the economy. In 2018, the ECB decided to scale back some of that stimulus amid improved data. However, the central bank returned to its easing stance in full force in September this year as prices and growth rates are treading water. “Downside risks to global and euro area economic growth have increased and continue to create financial stability challenges,” the ECB said in a press release Wednesday. The central bank had already warned in May of “persistent downside risks,” which included global trade uncertainty and the U.K.’s departure from the EU.
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