In Europe

PM Theresa May wins election without majority

Brexit extension: how much will it actually cost the UK to leave the EU?

Jonathan Perraton via The Conversation UK | EU leaders have agreed a short extension to Brexit until October 31 at the latest, in order to give the British parliament time to agree a deal. This date avoids the UK still being a member when the next EU budget cycle starts – but what does it mean for the “divorce bill”, the money the UK will pay the EU after its departure?

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ECB

European banks could reduce the bill of 7 billion euros for the excess cash in the ECB deposit account

Intermoney | The president of the ECB opened the door to further stimulus if the economic and inflation perspectives in the Eurozone remain low, in the shadow of a scenario dominated by downside risks for activity. In fact, he recalled that “there is no lack of instruments” to fulfill his mandate, at the same time as he is contemplating new delays in raising interest rates. Textually he said: “we are assured that monetary policy continues to accompany the economy, adjusting our orientation on interest rates to reflect the new inflation perspectives”.