Member states’ EU ambassadors today agreed on the Council’s partial negotiating mandate on the proposed Strategic Technologies for Europe Platform (STEP). The platform will support investments in critical technologies in the fields of digital and deep tech, clean tech and biotech in the EU. It will reduce the EU’s strategic dependencies and enhance its long-term competitiveness. The Council’s negotiating mandate is partial, because its position on additional financial support for STEP will depend on the final outcome of the horizontal negotiations...

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Cheaper cross-border payment services would benefit people and economies worldwide Kieran Murphy January 3, 2024 Faster, cheaper, and more transparent cross-border payment services have the potential to improve many lives by supporting economic growth, international trade, global development, and financial inclusion. The Group of Twenty has prioritized such progress. That’s because the financial links between countries, particularly between emerging market and developing economies, face several challenges that must be addressed, including high costs and inconsistent charges depending on the countries being linked, as we explore...

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Inflation in the eastern euro area: reasons and risks 10 January 2024 By Matteo Falagiarda Within the euro area, countries in central and eastern Europe have recently experienced the highest inflation rates. But why, exactly? The ECB Blog looks at the reasons for these higher prices and highlights the resulting risks and vulnerabilities. Since 2021 inflation in euro area countries in central and eastern Europe (EACEE) has significantly outpaced that of the euro area as a whole. The differentials have narrowed in recent months...

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New experimental statistics on distribution of household wealth in euro area provide quarterly information to policy makers, in line with national accounts First new data show that household net wealth in euro area increased by 29% over last five years, with homeowners’ net wealth increasing more than that of non-homeowners Inequality, as measured for example by share of wealth held by top 5% versus bottom 50%, decreased slightly over past five years The European Central Bank (ECB) has today...

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