Eurozone Consumer Prices Close to Record Highs - ECB
The European Central Bank announced that the consumer price index of the Eurozone has edged to its highest level in a decade.
People's trust in authorities is crucial for exiting the current financial crisis, and uncertainty in politics will postpone restoration.
The European Central Bank President, Jean-Claude Trichet, made that announcement during a speech in Tokyo Friday, Darik Radio reported.
"Public authorities, executive branches, and central banks must do all they can to restore, preserve and foster confidence among households and corporations in order to pave the way for sustainable prosperity. This calls for a measured response to changing conditions", he said.
2009 will be a "very difficult year" for the economy, and added he expects to see a recovery in 2010, Trichet said
The ECB's 22-member Governing Council is divided over not only how low to cut borrowing costs but also whether to adopt unconventional monetary policy tools such as the purchase of debt assets to help revive its ailing 16-nation economy. The bank this month cut its benchmark less than economists had forecast, by a quarter point to 1,25%, and delayed a decision on new policy tools until its next meeting in May.
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Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
In the initial quarter of 2024, Bulgaria's economy expanded by 0.4%, as per an expedited evaluation by the National Statistical Institute (NSI), a slight deceleration from the 0.5% growth witnessed in the final quarter of the preceding year
According to Levon Hampartzoumian, the likelihood of Bulgaria joining the Eurozone in 2025 is very slim, as no country has ever entered during the middle of the year
According to Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), Bulgaria will not meet all the requirements for joining the Eurozone by the time the convergence report is released in June
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