Draghi emphasizes ECB limits of tools it can apply

Note: This section contains information in English only.
Source: Bloomberg
Mario Draghi, the President of ECB highlighted interest rate reductions, liquidity injections and bond purchasing as only remaining tools ECB can use. He rejected ECB ability to cap borrowing costs or apply quantitative easing. Draghi reminded that the main task of ECB is to provide stable prices. Draghi did not support further interest rate cuts and added that monetary policy is not responsible for all the current problems in the Eurozone. 
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Thu, 07 Jun 2012 07:58:26 GMT

France provides more benefits for workers

While European countries responding to the Eurozone's debt crisis are tightening belts, French President F. Hollande has provided more generous retirement benefits and moved lower the retirement age from 62 to 60 years old for some workers. The pension decree might increase tension between Germany and France, which are arguing how to effectively address the crisis. 

Thu, 07 Jun 2012 08:20:25 GMT

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The hiring in Australia posted a surprise advance in May, reducing need for further interest rate cuts. The number of workers added surged by 38,900 last month, Sydney statistics bureau reported on Thursday. Analysts questioned by Bloomberg predicted flat employment. The unemployment rate slightly climbed from 5% in April to 5.1% in May.

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