Al-Sisi reviews Egypt's food security, strategic commodity reserves    Egypt signs strategic agreements to attract global investment in gold, mineral exploration    Syria says it will defend its territory after Israeli strikes in Suwayda    Egyptian Exchange ends mixed on July 15    Suez Canal vehicle carrier traffic set to rebound by 20% in H2: SCA chief    Tut Group launches its operations in Egyptian market for exporting Egyptian products    China's urban jobless rate eases in June '25    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Deutsche Bank CEO backs Lagarde's vision for euro zone fiscal stimulus
Published in Amwal Al Ghad on 23 - 11 - 2019

Deutsche Bank CEO Christian Sewing has backed European Central Bank (ECB) President Christine Lagarde's call for fiscal stimulus from euro zone governments.
Speaking to CNBC at the European Banking Congress in Frankfurt, Sewing supported the new central bank chief's position that fiscal policy should look beyond just the "aggregate stance of public spending" and focus on its "composition."
"Sometimes it's not only about the fiscal stimulus itself, I think we should first look at the composition of where the investments are going," Sewing told CNBC's Annette Weisbach.
"Nevertheless, we need to invest into digital infrastructure. We need to invest in education. I think we have the strengths to do something more," he added, suggesting that Lagarde had "found the right tone."
Euro zone governments, particularly those with budget surpluses, have long been under pressure to spend more and thus boost the 19-member region, with the central bank having eased monetary policy to the point of all-time low negative deposit rates.
Germany and the Netherlands are both deemed to have adequate fiscal space to boost spending, but are reluctant to increase their debt levels.
In her maiden speech as head of the ECB on Friday, Lagarde proposed moving toward a "new European policy mix."
"One key element here is euro area fiscal policy, which is not just about the aggregate stance of public spending, but also its composition," she said.
"Investment is a particularly important part of the response to today's challenges, because it is both today's demand and tomorrow's supply,"


Clic here to read the story from its source.