ECB headquarters in Frankfurt, March 12, 2020 (AFP/Archives/Daniel ROLAND)
The European Central Bank said Thursday “closely follow the implications of the situation in Ukraine”, the scene of a military operation launched by Russia.
The Governing Council of the ECB “will carry out a comprehensive assessment of the economic outlook at the March meeting” including “recent developments in the geopolitical field”, added the institute in a statement sent to AFP by a- word.
The EU countries, which meet at an exceptional summit on Thursday evening in Brussels, are preparing for their part a new set of sanctions which will be the “most severe ever implemented”, warned Josep Borrell, head of diplomacy of the EU.
These sanctions, decided by the EU and the European governments, “will be implemented by the Eurosystem”, indicates on this subject the press release of the ECB.
The full ECB Governing Council meets Thursday in Paris and for the first time in months in person, as announced before the last weekend.
This meeting, which precedes a Council of Ministers of Economy and Finance (Ecofin) of the French Presidency of the European Union on Friday in Bercy, has been planned for a long time and is not intended to examine the course of the Monetary Policy.
As for the implications of the conflict which are monitored by the ECB, they should relate to “oil and gas prices, but also to investor confidence, consumer confidence, trade”, according to the chief economist of the institute. , Philip Lane, in an interview with the Frankfurter Allgemeine Zeitung published on Wednesday evening.
The banking supervisor housed within the ECB has already been interested for several days in the possible impact of sanctions on the large banks under its supervision.
It looks in particular at the impact on cash, lending, currency positions and trading in financial instruments, according to Bloomberg.
© 2022 AFP
Did you like this article ? Share it with your friends with the buttons below.
