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使用者:ContiHarvell993

2012-07-25T14:12:18Z

46.105.228.172：新頁面: The European Central Bank has said it will not yet roll back the emergency measures it implemented to contain the eurozone debt crisis. "Any 'exit strategy' talk for the time being is pr...

The European Central Bank has said it will not yet roll back the emergency measures it implemented to contain the eurozone debt crisis.

"Any 'exit strategy' talk for the time being is premature," ECB president Mario Draghi said after its latest monthly meeting.

He has previously said the worst of the crisis is over.

The ECB recently took the unusual step of lending more than 1tn euros ($1.3tn; �828bn) of low-interest loans to banks.

The ECB provided 530bn euros of low-interest loans to 800 banks across the whole of the European Union - including 37.4bn euros to UK banks - in February, after 489bn euros were lent out in December.

Eurozone leaders also recently agreed to boost joint lending power of the "firewall" - its bailout funds - from 500bn euros to 800bn euros.
'Sufficient wage adjustment'

But since the eurozone central bank stopped buying the government bonds of countries such as Italy and Spain last year, borrowing costs for governments in the eurozone have been rising again.
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It is now up to governments to address the bigger economic and fiscal problems facing the region�

Jonathan Loynes Economist

The yield on Spain's 10-year bond has risen to 5.61%, compared with 4.9% a month ago and on Wednesday, the country raised 2.6bn euros from investors in mid-term loans, almost at the bottom end of what it was seeking.

Mr Draghi said that there were still risks related to a renewed intensification of tensions in euro-area debt markets. However, he said that he expected the economy to grow modestly over 2012.

He warned the eurozone's governments, without singling any out, that they must honour their commitment to reducing and containing debt.

"National policy-makers need to fully meet their responsibilities to ensure fiscal sustainability, to increase the adjustment capacity of product and labour markets, to enhance productivity and competitiveness, and to ensure the soundness of their financial system.

"In particular, countries which have suffered losses in cost competitiveness need to ensure sufficient wage adjustment and foster productivity growth."

Italy and Spain are trying to avoid the fate of Greece, Portugal and the Republic of Ireland by making severe cuts to public spending amid much public protest.

Jonathan Loynes, an economist at Capital Economics, found the ECB president to be "distinctly non-committal with regard to the possibility of further unconventional policy support", such as its cheap loans.

"The ECB has done its job by propping up the banks. It is now up to governments to address the bigger economic and fiscal problems facing the region," he said.

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使用者:DemingFretwell992

2012-07-24T08:15:44Z

46.105.228.172：新頁面: The United States has announced it will further ease sanctions against Burma. Secretary of State Hillary Clinton said some travel and financial restrictions would be relaxed, with Burmes...

The United States has announced it will further ease sanctions against Burma.

Secretary of State Hillary Clinton said some travel and financial restrictions would be relaxed, with Burmese leaders allowed to visit the US.

European Union leaders had said earlier on Wednesday that they would consider taking similar steps.

The news follows by-elections in Burma on Sunday in which pro-democracy leader Aung San Suu Kyi's party secured a landslide win.

The National League for Democracy (NLD) took 43 out of 45 seats up for grabs in the polls, which were generally deemed to be free and fair.

Mrs Clinton, who paid a visit to Burma last year, praised President Thein Sein's "leadership and courage".

"We fully recognise and embrace the progress that has taken place and we will continue our policy of engagement," she said.

Under the moves, the US will name an ambassador to Burma and establish an office for its Agency for International Development in the country.

The US would also begin "targeted easing" of the ban on US financial services and investment in Burma, she said without giving further details.
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Analysis
image of Rachel Harvey Rachel Harvey BBC South East Asia Correspondent

The recent by-elections are being hailed as an important step in Burma's transition from decades of authoritarian military rule towards a more open, democratic and representative system. But it is a transition fraught with difficulties.

Aung San Suu Kyi will feel that the risk she took in deciding to participate in the elections has been vindicated by the scale of her party's success.

But the real test will be to see how effective she is able to be as an agent for change within parliament.

Harvey: What now after poll landslide?

Administration officials said agriculture, tourism, telecommunications and banking would be among the economic sectors to be considered for the relaxation of sanctions.

Mrs Clinton said that sanctions would remain in place "on individuals and institutions that remain on the wrong side of these historic reform efforts".

The US eased some sanctions on Burma in February.
Political prisoners

The US move came hours after Asian leaders meeting for a regional summit issued a formal call for sanctions against Burma to be lifted immediately to help the country's political and economic development.

Speaking in London, British Foreign Secretary William Hague said EU members would probably be willing to lift some of their sanctions on Burma.

"That does not mean an instant and complete opening up of trade with Burma," he added.

Mr Hague said he would keep up pressure on Burma to free political prisoners.

The Chinese foreign ministry welcomed the Western moves to relax sanctions on Burma, and called for all restrictions to be lifted.

使用者:KristynBlas936

2012-07-22T13:27:25Z