European Central Bank
The European Court of Human Rights has ordered Ukraine to pay former SFS head Roman Nasirov 9,750 euros in compensation for inadequate medical care. The court found a violation of Article 3 of the Convention due to the lack of adequate treatment and the non-execution of court decisions regarding his hospitalization.
President Zelenskyy informed European Central Bank President Christine Lagarde about the consequences of the Russian attack on Ukraine's energy system. They discussed the use of frozen Russian assets for Ukraine's recovery.
In September, eurozone inflation accelerated to 2. 2%, exceeding the ECB's target of 2%. This confirms expectations that the ECB will not cut interest rates this year.
Most employees in Europe are not willing to accept a significant pay cut for the opportunity to work a few days a week from home. Only 13% would agree to a 1-5% reduction in income, and 8% to a 6-10% reduction.
This summer, severe weather conditions in Europe caused short-term economic losses of at least €43 billion. By 2029, these losses are expected to increase to €126 billion.
Syria plans to remove two zeros from its currency and issue new banknotes to restore confidence. The banknotes will be printed by the Russian company Goznak, which has already cooperated with Syria.
The European Union is accelerating the launch of the digital euro due to a new US stablecoin law, which has raised concerns about the competitiveness of the European currency. The placement of the digital euro on public blockchain platforms, such as Ethereum or Solana, is being considered.
Spot gold prices rose 0. 6% to $3368.39 per ounce, while US gold futures rose 0.5% to $3376. This occurred amid a weakening dollar and expectations regarding trade talks and the Fed meeting.
Euroclear CEO Valerie Urbain believes that the European Commission's plan to invest frozen Russian assets in riskier instruments to increase profits for Ukraine is "expropriation. " She warns of significant risks and potential losses that could arise from such actions.
Volodymyr Zelensky met with Christine Lagarde, discussing the use of frozen Russian assets and the continuation of sanctions. Macrofinancial stability and European integration were also discussed.
Christine Lagarde stated that financial integration does not necessarily lead to crises if countries have consistent policies. Key factors are directing capital to the real sector and the stability of the banking system.
The head of the Central Bank of China announced the emergence of a new currency order, where the yuan will compete with the dollar. China strives for a multipolar system against the background of trade disputes with the United States.
The Association of Ukrainian Banks has included the leading Ukrainian insurtech project UKASKO as a member.
The European Commission has approved Bulgaria's transition to the euro from January 1, 2026, which will make it the 21st country in the Eurozone. The assessment confirms Bulgaria's compliance with the convergence criteria.
European stock markets are soaring as investors reorient towards European assets due to Trump's trade policy. The Stoxx 600 index is outperforming the S&P 500 by a record 18%
The court found Peter Kažimír guilty of bribery when he was Minister of Finance. He has to pay a fine of 200,000 euros, but remains in office for now.
The European Commission and the European Central Bank will give their consent for Bulgaria to join the Eurozone. This is expected to happen on January 1, 2026, making the country the 21st member of the currency union.
The European Central Bank expects all decisions regarding the digital euro to be made by the beginning of next year. The launch of the currency is expected in two to three years after that.
Oleksiy Poroshenko did not pay the military tax on income abroad for 2023-2024. The amount of unpaid taxes is estimated at UAH 770 million.
US trade shock rocked markets and confidence, exacerbating global threats according to a Brookings-FT study. IMF is set to cut growth forecasts due to rising uncertainty.
The head of the Central Bank of Greece, Yannis Stournaras, said that the trade war will have an impact on Europe's economic growth. Tariffs may lead to a decrease in inflation below the ECB's targets.
Donald Trump plans to introduce import tariffs, which could lead to a trade war. Europe is preparing to respond, considering protecting its own economic interests.
UKASKO is a technology provider for more than 20 insurance companies.
Martins Kazaks, the president of the Bank of Latvia and a member of the Governing Council of the ECB, supported the idea of outright seizure frozen Russian assets in Euroclear. He called it a viable option for assisting Ukraine.