Eurozone

Portrait for @LINO_MSR
by @LINO_MSR
2020-10-05T20:00:01+00:00
Business • Economy
European Central Bank preparing for possible digital euro launch in 2021
European Central Bank preparing for possible digital euro launch in 2021
Credit: DXR / Wikimedia Commons (Creative Commons Attribution ShareAlike 4.0)

The European Central Bank is currently preparing a concept for an official digital currency that would complement hard cash as a payment method. "Towards the middle of 2021 we will decide whether to launch a digital euro project." states the official website of the project.

Portrait for @ericof
by @ericof
2020-05-01T01:44:33+00:00
Business • Economy
Eurozone economy shrinks 3.8% in first quarter
The Hemicycle of the European Parliament in Strasbourg during a plenary session in 2014.
The Hemicycle of the European Parliament in Strasbourg during a plenary session in 2014. Credit: Diliff (Creative Commons Attribution ShareAlike 4.0)

The eurozone’s gross domestic product fell 3.8% versus the final three months of 2019, according to data released Thursday, as measures imposed to limit the Covid-19 pandemic’s spread stalled everything from schools to factories to churches.

Separate figures revealed a steep fall in economic activity in France (5.8%) and Spain (5.1%) over the same period.