Latest European Central Bank News

German Chancellor Angela Merkel, left, and French President Emmanuel Macron walk onto the podium prior to a media conference at the end of an EU summit in Brussels, Tuesday, July 21, 2020. Weary European Union leaders finally clinched an unprecedented budget and coronavirus recovery fund early Tuesday, finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever. (John Thys, Pool Photo via AP)

Stimulus package breaks new ground in European unity

Jul. 21, 2020 11:00 AM EDT

FRANKFURT, Germany (AP) — European leaders took a historic step towards sharing financial burdens among the EU's 27 countries by agreeing to borrow and spend together to pull the economy out of the deep recession caused by the virus outbreak. Pushed by Germany's Angela Merkel and France's Emmanuel Macron,...

At sunset, the sky above the Frankfurt skyline and the water of the river Main are colored deep red, Friday, June 19, 2020, in Frankfurt, Germany. (Arne Dedert/dpa via AP)

European Central Bank urges leaders to act on economy

Jul. 16, 2020 10:43 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank hit pause Thursday after deploying massive stimulus measures in recent weeks and urged government leaders to do their part by agreeing on an EU-wide fund to support regions hardest hit by the virus outbreak. ECB President Christine Lagarde said that...

European Central Bank leaves stimulus programs unchanged ahead of a key meeting of EU leaders on economic recovery plan

Jul. 16, 2020 7:51 AM EDT
FRANKFURT, Germany (AP) — European Central Bank leaves stimulus programs unchanged ahead of a key meeting of EU leaders on economic recovery plan.
A man walks by the Euro sculpture in front of the old the European Central Bank in Frankfurt, Germany, Tuesday, May 5, 2020. Germany's Constitutional Court has ruled that the country's central bank must stop participating in a key European Central Bank stimulus program but gave the ECB time to demonstrate that the stimulus program is needed and appropriate. (AP Photo/Michael Probst)

Croatia, Bulgaria take big step toward joining the euro

Jul. 10, 2020 6:39 PM EDT

FRANKFURT, Germany (AP) — Croatia and Bulgaria took a big step toward joining the shared euro currency Friday, underlining the currency bloc's attraction despite its 2010-2015 debt crisis and the continuing debate about how to strengthen it against possible future trouble. Finance ministers of the 19...

German President Frank-Walter Steinmeier, left, and the former President of the European Central Bank (ECB), Mario Draghi, right, pose for the media at the Bellevue Palace in Berlin, Germany, Friday, Jan. 31, 2020. Mario Draghi has been awarded Germany's highest honor. It was a recognition of his central role in helping preserve Europe's single currency that has met with some criticism in the eurozone's biggest economy.  (Britta Pedersen/dpa via AP)

Pope names Draghi, ex-head of European Central Bank to panel

Jul. 10, 2020 9:48 AM EDT

VATICAN CITY (AP) — Mario Draghi, the former head of the European Central Bank, has been appointed by Pope Francis to a Vatican advisory panel, the Holy See said on Friday. The pontiff named Draghi, 72, as a member of the Pontifical Academy of Social Sciences. An economist who received his doctorate from...

FILE - In this file photo dated Friday, May 1, 2020,  the European Central Bank is shadowed by heavy clouds in Frankfurt, Germany.  The central bank for the 19 countries that use the euro said Thursday June 18, 2020, That it has handed out more than a trillion euros in cheap loans to banks as part of its effort to get the economy through the virus outbreak.  (AP Photo/Michael Probst, FILE)

European Central Bank hands out 1.3 trillion euros in loans

Jun. 18, 2020 11:31 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank has handed out 1.31 trillion euros ($1.46 trillion) in long-term, ultra-cheap credit to hundreds of banks as part of its emergency support aimed at cushioning the impact of the coronavirus pandemic on businesses and workers. The three-year loans are...