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Christine Lagarde says premature withdrawal of fiscal support would risk delaying eurozone recovery 08 April 2021 - 15:12 Carolynn Look and Alexander Weber Christine Lagarde, president of the European Central Bank. Picture: BLOOMBERG/CHRIS RATCLIFFE
Frankfurt/Brussels European Central Bank (ECB) president Christine Lagarde has said governments can’t afford to let up efforts to support the region’s economy through the pandemic-induced crisis.
“An ambitious and co-ordinated fiscal stance remains crucial, as a premature withdrawal of fiscal support would risk delaying the recovery and amplifying the longer-term scarring effects,” she told a meeting of the International Monetary and Financial Committee on Thursday.
By Reuters Staff
1 Min Read
FILE PHOTO: A signboard of MUFG Bank is seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai
(This March 30 story, corrects the picture added to the story)
TOKYO (Reuters) - The brokerage arm of Japan’s Mitsubishi UFJ Financial Group on Tuesday flagged potential losses of around $300 million at its European subsidiary related to an unnamed U.S. client.
The potential loss does not have any material impact on the business capability of the securities arm, or its European unit, Mitsubishi UFJ Securities Holdings Co Ltd said in a statement.
It did not name the U.S. client. However, the revelation comes after global banks, including rival Nomura Holdings, were bracing for the fall-out from the downfall of hedge fund Archegos Capital.