Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Deutsche Bundesbank’s payment and securities settlement symposium 2017, Frankfurt am Main, 18 May 2017 Fintech has created the potential for the design and implementation of innovative financial services that can better serve users’ needs in terms of speed and convenience. Innovative developments that lead to better services can support commerce, in particular e-commerce, as well as productivity and income growth. To fulfil its mandate under the Treaty,...

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By Christine Lagarde Finance ministers and central bank governors from the G7 countries met in Bari, Italy, this weekend to consider global economic issues, including steps to maintain economic stability and improving gender equality as important agenda items. Women’s economic empowerment has long been an international priority, of course. The G6—as it was then—was first created in 1975, a year named “International Women’s Year” by the United Nations to help more women worldwide realize their full potential. Mountain climber Junko Tabei masterfully demonstrated...

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“A strong and united Europe is an absolutely fundamental pillar of a strong and effective United Nations," said António Guterres, addressing MEPs in Strasbourg on 17 May. The Portueguese UN Secretary-General, the first European one since Austria’s Kurt Waldheim in the early 1980s, said global challenges such as the multiplication of conflicts, a human rights violations, climate change and globalisation required the EU and the UN to work together. Welcoming Guterres, Parliament President Antonio Tajani pointed out that both the...

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The Board of the European Investment Bank today approved a total of EUR 10.8 billion of new financing for 43 projects in the fields of energy, social housing, and support for business and innovation investment across Europe and beyond. “The EIB continues to deliver for Europe’s citizens, mobilising new investment to enhance economic opportunities. Financial projects approved today will support construction of new homes for thousands of families and allow high-speed internet access in towns and rural areas across Europe.”...

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It is a pleasure to be here to discuss Connectivity - the driving force of the twenty-first century. The Asian Development Bank estimates that Asia faces a $26tn infrastructure gap until 2030. Done the right way, more investment in cross-border infrastructure links could boost sustainable growth for all. That is why it is in Europe's interest to be part of this Initiative. China is at one end of the Belt and Road – Europe at the other. Our Trans-European Networks...

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The external positions of BIS reporting banks in Central, Eastern and South Eastern Europe (CESEE) have broadly stabilized, and post-crisis deleveraging seems to have been largely completed, while banks’ strategies in the region have become more selective, according to two new reports from the Vienna Initiative. A third such report shows that levels of bad loans in the region declined in the year to mid-2016, but in several countries, they continue to have a negative impact on the local...

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Some 88 million tonnes of food are wasted in the EU every year, equivalent to 173 kilos per person. Not only is this a waste or resources, it also contributes to climate change. Parliament is working on new measures to cut food waste in the EU by 50%. Check out our infographic to find out which sectors and countries waste the most food and read what is being done at EU level and what you can do yourself. (view the...

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The European economy has entered its fifth year of recovery, which is now reaching all EU Member States. This is expected to continue at a largely steady pace this year and next. In its Spring Forecast released today, the European Commission expects euro area GDP growth of 1.7% in 2017 and 1.8% in 2018 (1.6% and 1.8% in the Winter Forecast). GDP growth in the EU as a whole is expected to remain constant at 1.9% in both years...

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