Tag: Eurozone
Danske Bank updates its investment outlook: Stocks and bonds are weighted neutral
The increase in the neutral weight of stocks is due to the fact that the darkest clouds in the market have disappeared. Kivipelto, however, advises stock investors to be cautious about geographical diversification. “We are overweight in emerging markets. In addition, we still have a neutral weight on US and Japanese stocks. Regarding Europe, we […]
Inflation in Sweden is three decades high
The data show that electricity and food are peaking higher than expected price growth Inflation in Sweden has soared to double digits for the first time in more than thirty years, driven by rising electricity and food prices, Statistics Sweden said on Friday. Sweden’s inflation adjusted for fixed interest rates (KPIF), the measure used by […]
Croatia becomes a fully integrated EU member
ZAGREB, Croatia: On January 1, Croatia became a full member of the European Union, removed dozens of border controls and switched its currency to the euro. After joining the EU’s ID-check-free Schengen zone, Croats now belong to nearly 420 million people who can freely travel around the bloc’s 27 member states without passports for work […]
What major events does 2023 have in store
From King Charles III’s upcoming coronation at Westminster Abbey to the first ever Africa Super League and commemorating the 50th anniversary of Pablo Picasso’s death, FRANCE 24 looks ahead to the new year and shares some of the major events coming up in 2023. Croatia adopts the Euro and joins the Schengen Area More than […]
Eurozone bailout fund serves no purpose: Italy’s Meloni
ROME, Italy: Italian Prime Minister Giorgia Meloni has said the eurozone bailout fund serves no useful purpose, and has told the European Central Bank (ECB) to be more careful in how it communicates. In a three-hour press conference at the end of the year, Meloni, leader of the hard-right Brothers of Italy party, said, “The […]
Rehn: A recession in the Eurozone would be a disadvantage for Finland rather than a collapse
“The rising cost of energy has also increased food prices. The increase in food prices affects all citizens, but especially those with low incomes, for whom the food bill eats up the lion’s share of the income, he said. quoted saying Helsingin Sanomat’s public hearing in the parliament’s trade committee. Eurostat has reported that consumer […]
The quick assessment raises concerns about a recession in Finland
Adjusted production in April-June grew by 1.7 percent from the previous quarter. The estimate raised concerns among many economists that the contraction of the national economy will continue in the fourth quarter and thereby slide into recession. The technical definition of a recession is negative GDP growth for two consecutive quarters. “That’s how it starts, […]
EU officials speak out against Scottish nationalist leader over euro
Despite Nicola Sturgeon’s claims, it will be “impossible” for Scotland to join the bloc and not the single currency, officials say. Scotland will need “legally commit” to join the euro if it becomes independent and seeks membership of the European Union, two EU officials told the Herald on Sunday. Scottish First Minister Nicola Sturgeon, who […]
Accelerated inflation and rising interest rates caused fluctuations in the market
“In Europe, the energy crisis and the ongoing war in Ukraine cause gloomy signs about the economic outlook. However, the investment market is driven by the United States, where the economic issues are clearer and the war more distant. 49 percent of Varma’s entire investment portfolio continued to generate positive returns, says Varma’s CEO. Risto […]
The Governor of the Bank of Finland warns of a serious economic disruption
Stagflation refers to slow economic growth and high unemployment as well as constantly rising consumer prices. In September, the ECB estimated that the euro area economy could contract by 0.9 percent in 2023 if Russia stops selling natural gas and oil transported by sea to Europe and Europe does not find alternative sources of supply. […]
Insolvencies increase sharply when state support ends
Globally, the number of defaults has increased this year as governments wind down their pandemic support programs. Due to this, the number of payment defaults has been increasing, especially in many Western European countries and in Australia and Canada. We expect the number of insolvent companies to increase strongly from last year, particularly in the […]
Marin: Politicians must be able to discuss economic policy coordination
“The root cause of inflation is the high price of energy, so we need to focus on two things in particular. We need to rapidly increase energy production to solve this supply problem. And another thing we need to discuss and find solutions for is energy pricing,” he said quoted saying from STT. He considered […]
July inflation in the euro area at 8.9 percent on an annual basis
BRUSSELS, Belgium: The European Union’s statistics office, Eurostat, confirmed that inflation in the euro zone hit a new record high of 8.9 percent year-on-year in July, with core measures, excluding the most volatile components, also rising. Consumer prices in the 19 eurozone countries rose 0.1 percent month-on-month in July, the highest since the launch of […]
Germany has lessons to learn about reducing gas demand to preserve EU unity
On Tuesday, the EU reached a draft agreement that member states will voluntarily reduce gas consumption by 15 percent from August to March. The load will fall unevenly given that some countries are more dependent than others on Russian gas. But beyond what the text says, analysts say countries that failed to heed warnings about […]
The EU removes the last obstacle to Croatia’s adoption of the euro currency
BRUSSELS, Belgium: The European Union (EU) has removed the last obstacles for Croatia to adopt the euro currency, the first expansion of the currency bloc in almost a decade. EU finance ministers approved three related laws enabling Croatia to become the 20th member of the eurozone on 1 January. Lithuania was the last country to […]
The euro weakens to parity with the dollar
The euro weakened to the level of the dollar on Tuesday for the first time since the introduction of the currency in 2002. Finland was one of the first members of the Eurozone – an informal term for countries that belong to the European Economic and Monetary Union (EMU) and use the euro as their […]
Australian Labor is not alone. Left parties are making a comeback
One aspect of May’s federal election has been strangely overlooked: Labor’s gains follow a pattern among the main center-left parties in Europe and comparable countries. Traditional social democratic and workers-based parties are re-emerging and now hold offices (alone or in coalition) in all Scandinavia and in Germany, Spain, Portugal and New Zealand. Where the last […]
EU countries use strategies to tackle rising petrol pump prices: report
The main factor driving up prices is the supply problems associated with the conflict between Russia and Ukraine. The average price of petrol rose momentarily to more than € 2 per liter as the conflict escalated in February, but the latest rise is part of a steady rise in prices amid a shortage of supply […]
Eurostat: Alcohol prices in Finland the highest in the EU last year
In Finland, the prices of alcoholic beverages were the highest in the EU last year, according to a price comparison program coordinated by Eurostat, the European Union’s statistical office. According to the study, the price of alcohol in Finland was 120 per cent higher than the EU average in 2021. This is a significant increase […]
APN podcast: The Finnish “market” tradition
Eurozone inflation accelerated to a record 8.1 per cent in May, and this week’s All Points North examines how Finland can cope with rising prices. "Now the big question is how will wage earners adjust to this higher inflation, will there be additional wage increases, how will companies react, what does that mean for collective […]
As uncertainty persists, investors will withdraw EUR 100 million from funds registered in Finland
Investors raised a total of EUR 242 million from equity funds and EUR 313 million from short-term fixed income funds. New investments in hedge funds amounted to EUR 105 million, in long-term fixed income funds to EUR 301 million and in alternative funds to EUR 45 million. Last month was difficult, especially for fixed income […]
The research institute almost halves Finland’s economic forecast
The Finnish economy is both directly and indirectly adversely affected by Western sanctions and the general reluctance to cooperate with Russia. Sakari LähdemäkiDirector of Laboratory Forecasting. “Directly through the drying up of Russian trade and indirectly due to the deteriorating economic outlook across Europe.” “Finland’s economic growth is maintained by private consumption and investment. The […]
According to the EU standard, with relatively modest inflation, Finland is no longer so expensive
When the single currency, the euro, was introduced more than 20 years ago, the purchasing power of the Finnish people was the weakest in the EU, along with Spain, Portugal and Greece. Since then, relative purchasing power has improved as prices have risen less here than elsewhere, economists say. Since the turn of the millennium, […]
Rehn: Finland can bear the cost of sanctions because basic human values are under threat
“Russia is blatantly violating international agreements.” According to Rehn, the European Central Bank and the national monetary authorities, including the Bank of Finland, will implement without delay all sanctions imposed by the EU and national governments within its competence. Juha KilponenDirector of Monetary Policy and Research at the Bank of Finland, told me Helsingin Sanomat […]
Finland's Trade deficit was notably larger in 2021 than the year before
Presented quarterly, the change in the value of exports and imports took only a slight upward turn in the first quarter of 2021 following the decline in the previous year. Exports increased by 4.4 per cent and imports by 1.8 per cent. In the second quarter, exports rose already by 25.7 per cent, followed by […]
European Commission update forecast for the Finnish economy
The European Commission has raised its forecast for Finland’s economic growth. On Thursday, the Commission forecast that Finland’s GDP will grow by 3.4% this year from its previous estimate of 2.7%. The EU leader estimates that economic growth will continue in Finland next year, but at a slightly slower pace. According to the latest forecast, […]
President Fuest urges the new German government to show more commitment to European politics: ifo
The new eurozone government should oppose the relaxation of debt rules and strive for a balance between solidarity, ownership and financial discipline. This includes requiring banks to support equity investments in government bonds. The EU must be able to defend its interests vis-à-vis China, Fuest continues. While some of these are in agreement with the […]
Housing prices in Finland rose the fastest in a decade, Hypo says
“In the U.S., as many as two-thirds of buyers did not bid on houses earlier this year. In Finland, this has previously been the practice of investors, but now regular buyers have also joined the trigger-happy group, ”he described. Brotherus encouraged buyers to take the time to inspect the house, review the housing company documents, […]
Let’s make driving cheaper
Tax revenue from road transport in Finland totals about eight billion euros a year. Just 12 years ago, the number was 6.2 billion, indicating that the annual number has grown quite rapidly. This heavy taxation cannot be justified by road costs. Every year, less than 30% of road tax revenue is spent on maintenance and […]
The eurozone is ready to recover
“We should start seeing recovery soon provided the coronavirus doesn’t throw another key to work,” the ifo researcher says Pauliina Sandqvist. Researchers also expect inflation to rise to 1.1 percent in the first quarter – 0.3 percent compared to the same quarter in 2020 – and 1.8 percent in the second quarter. Inflation is expected […]
The amount of counterfeit money increased by a third last year
Last year, there were 1,496 counterfeit euro banknotes in circulation in Finland, compared with 980 in 2019, according to the Bank of Finland. The amount of counterfeit money found in Finland has grown steadily over the past five years, but is still small compared to other eurozone countries, the statement added. "The number of counterfeit […]
