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European Central Bank Profile picture
@ecb
Jan 11, 2019 • 4 tweets • 2 min read • Read on X
[THREAD] Executive Board member Yves Mersch spoke today about Slovakia’s economic success since joining the euro area 10 years ago. Read on to find out more and take a look at the full speech ecb.europa.eu/press/key/date… 1/4 #EUROat20 Image
Yves Mersch: The Slovak economy has built strong ties to the Single Market, outperforming its central and eastern European neighbours in the euro area. Its export share is almost 100% of GDP, while nearly 20% of Slovak jobs depend on EU exports 2/4 Image
Yves Mersch: Slovakia’s economic convergence has been impressive. Its GDP is approaching that of EU Member States that joined before 2004 (EU15) and is now also very close to catching up with the GDP of the Czech Republic – a country that did not join the euro 3/4 Image
Research shows that joining the euro alone contributed to a 12% increase in Slovakia’s exports, and helped to strengthen its institutions, says Yves Mersch. Find out more about the euro’s benefits in our explainer ecb.europa.eu/explainers/tel… 4/4

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More from @ecb

European Central Bank Profile picture
Jan 4, 2023
🧵Interested in insights into the world of central banking?

Catch up with #TheECBPodcast to listen to our host, @katieranger_, talk to experts about the topics that matter to the euro area economy today.

Here is a recap of some of the episodes in 2022 ⬇️

1/4
Are cyberattacks a threat to financial stability? Why do hackers target financial institutions?

Our expert John Fell answered these and other questions on #TheECBPodcast pod.link/1481819425/epi…

2/4
President Christine @Lagarde and @LSEnews Director Minouche Shafik discussed the impact of gender bias on education, home life, the workplace and leadership in this episode of #TheECBPodcast pod.link/1481819425/epi…

3/4
Read 4 tweets
European Central Bank Profile picture
Jan 3, 2023
🧵 In 2022 we published ten new or updated Explainers, a clear and visual way to understand central banking topics – available in all EU languages!

Here is a recap of some of them in case you missed them ⬇️

1/4 Image
Raising interest rates is our main tool for fighting inflation. But what do higher rates mean for you?

Read our #Explainer to find out more ecb.europa.eu/ecb/educationa…

2/4
Climate change matters to the ECB, as it affects the economy in different ways.

Check out our #Explainer to find out how and to discover what we are doing to tackle climate-related risks ecb.europa.eu/ecb/educationa…

3/4
Read 4 tweets
European Central Bank Profile picture
Sep 26, 2022
🧵 The digitalisation of finance has broadened payment options, with emerging fintechs, big techs and cryptos causing disruptions, says Executive Board member Fabio Panetta at the @bundesbank. We need to preserve an anchor of stability for the monetary and payments systems.

1/4
Panetta: Safeguarding this anchor is what our digital euro project is all about. We want to ensure that central bank money remains available to everyone in the euro area. But we also need to modernise the payment infrastructure underpinning our financial system.

2/4
Panetta: Central bank money already exists in digital form for wholesale purposes. Wholesale central bank digital currency projects are about making digital interbank transactions, such as securities settlement and cross-currency payments, safer and more efficient.

3/4
Read 4 tweets
European Central Bank Profile picture
May 5, 2022
🧵 We must be prudent, recognising what we can do, but also what we cannot do, Executive Board member Fabio Panetta tells @LaStampa. We have limited room to cool imported inflation but we must prevent the rise in inflation from becoming entrenched.

ecb.europa.eu/press/inter/da…
 
1/4 Image
Panetta: With medium-term inflation around 2%, we can gradually reduce stimulus.
But we must remain data-driven. It would be unwise to act without fully understanding how the war and global factors will affect inflation, demand and production. Uncertainty is enormous

2/4
Panetta: We must prevent monetary adjustment from being accompanied by higher financial fragmentation. If the latter impedes monetary policy transmission, we should intervene decisively, building on the success of our pandemic purchase programme and the Next Generation EU
 
3/4
Read 4 tweets
European Central Bank Profile picture
Apr 28, 2022
The Russian invasion of Ukraine has cast a dark shadow over our continent, says Vice-President Luis de Guindos as he presents our 2021 Annual Report to the @Europarl_EN

Speech ecb.europa.eu/press/key/date…
Annual Report ecb.europa.eu/pub/annual/htm…

1/4
De Guindos: The war in Ukraine is above all a human tragedy causing enormous suffering. But it is also affecting the economy in Europe. Growth will be slower than expected and inflation is likely to remain high in the coming months

2/4
De Guindos: The war has also exposed major strategic vulnerabilities in Europe, including our dependency on fossil fuel imports. Speeding up the green transition is therefore crucial

3/4
Read 4 tweets
European Central Bank Profile picture
Apr 25, 2022
🧵 Globally coordinated efforts are needed to bring crypto-assets into a regulatory framework, says Executive Board member Fabio Panetta at @Columbia. We must not repeat past mistakes by waiting for the bubble to burst before acting ecb.europa.eu/press/key/date…

1/5
Panetta: Unbacked crypto-assets can’t even fulfil their objective of facilitating payments, since they are too volatile to perform as money. We must decide how to regulate them, seeking a balance between innovation, financial stability and consumer protection

2/5
Panetta: Crypto-assets already have a larger market than sub-prime mortgages had before the global financial crisis started. The longer we wait, the more exposures and vested interests build up. And the harder it will be to act

3/5
Read 5 tweets

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