The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
Financial Stability Review, May 2021
Foreword
This is the third issue of the Financial Stability Review (FSR) prepared in the context of the coronavirus COVID-19 pandemic, with many euro area countries having faced a third wave of infections. As a result, a vast number of firms – particularly those in the services, leisure and travel sectors – still cannot operate normally, and the economy is still reliant upon policy support to prevent widespread unemployment, corporate insolvencies and economic contraction. The human and economic costs of the pandemic continue to accrue.
That said, vaccination programmes are progressing and offering a route out of the pandemic. Financial markets have been driven by expectations of an upswing, exemplified by a striking rally in global equity markets. We are optimistic that financial and economic conditions will bounce back. There is, however, a reality that the pandemic will leave a legacy of higher debt and weaker balance sheets, which – i
but i also was unable, at the curriculum committee, to bring up the question of their ongoing financial relationship with edison, or entanglements with edison learning inc.. have we look into that at all? i am not going to say anything that may be related to a lawsuit, but do we have information about that? can i get that from our legal department? we do not have that information. we can certainly ask the petitioner. commissioner wynns: if the charter is denied, it will not be an issue. the real comment i wanted to make is that it is extremely difficult for me, sadly, to trust that it is a good idea for us to enter a charter relationship with this school. i think a lot of the comments that have been made about the changes in management and programs that have been made at edison really are tell us that in fact this was probably not a renewal. we do not hold the charter, so it is not really up to us. one of the restrictions is that renewals in california are for five years.
have we look into that at all? i am not going to say anything that may be related to a lawsuit, but do we have information about that? can i get that from our legal department? we do not have that information. we can certainly ask the petitioner. commissioner wynns: if the charter is denied, it will not be an issue. the real comment i wanted to make is that it is extremely difficult for me, sadly, to trust that it is a good idea for us to enter a charter relationship with this school. i think a lot of the comments that have been made about the changes in management and programs that have been made at edison really are tell us that in fact this was probably not a renewal. we do not hold the charter, so it is not really up to us. one of the restrictions is that renewals in california are for five years. but this is probably more appropriately a new charter proposal, which would have allowed us to charter for a shorter period of time, the initial chartering term. that might