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The EU is approaching an agreement on the attenuation of internal combustion engines

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The EU is approaching an agreement on the attenuation of internal combustion engines

Good day,

The European Union is gradually finalizing agreements aimed at banning the sale of internal combustion cars after 2035. The key was the settlement of the dispute with Germany at the end of last week, which demanded and received a broader exemption for so-called synthetic fuels. However, the likely result will still be a gradual transition to electromobility.

Since inflation is already driven up more by food than by energy, politicians are beginning to think that it would be good to regulate them as well.

There is a clear consensus among economists that it is not necessary and would not help. It would create further pressure to increase prices, warns the Governor of the National Bank of Slovakia and former Minister of Finance for Smer Peter Kažimír. “No one needs to blow into the grave.”

Regulating food prices would lead to food shortages and cause financial problems for traders and grocers, say economists at the Panel of Experts.

Today’s Economic newsfilter was prepared by Ján Kováč, has 1100 wordsyou read it for 4 and a half minutes.

1. The reduction of basic interest rates in the USA can start already in the summer

After the problems of the German Deutsche Bank on Friday, the financial markets received some good news yesterday. Deposits and loans after the bankrupt Silicon Valley Bank will be taken over by another American bank, First Citizens. The result of this merger, which was organized by the American government’s deposit protection agency, was a significant appreciation of the shares of several regional banks.

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The bank’s division will receive a 16.5 billion discount on assets worth 72 billion dollars. Seventeen SVB branches will open today under the new trade name First Citizens.

However, the situation in banks is fragile and central banks will have to continue to balance between protecting financial markets and suppressing inflation. And it looks like the rise in interest rates, at least in the US, may stop sooner than we thought until recently.

This is indicated by the milder statements of the American Fed from last week and the expectations of investors on the financial markets, which were summarized in his commentary by economist Vladimír Vaňo.

What changed after the collapse of Silicon Valley Bank:

  • The risk of a financial crisis is changing the rhetoric of central bankers and the expectations of traders on the financial market.
  • The US central bank’s statement from last week no longer includes the idea that it “expects the need for continued interest rate increases”. She replaced her

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