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ECB profits on its Greek bonds

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TIM WALLACE

THE EUROPEAN Central Bank (ECB) made 555m (?480m) in interest income from its Greek bonds, accounts showed yesterday, indicating the whole Eurosystem may have made several billion on the emergency purchases.

That is expected to be divided up among the Eurozones national central banks, added to their own earnings and given to Athens.

The ECB made another 553m in interest on other securities bought under the emergency programme, including those of Spain and Italy.

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Joyce Campbell Clinic

German GDP slumps 0.6 per cent in Q4

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CITY A.M. REPORTER

The German economy shrank in the last three months of 2012, with a plunge in exports driving the contraction.

Seasonally adjusted data from the Federal Statistics Office confirmed an earlier flash estimate showing that German GDP fell by a more-than-expected 0.6 per cent in the last quarter of the year.

It marks the biggest fall since the economy contracted by 4.1 per cent at the start of 2009.

Foreign trade deducted 0.8 per cent from GDP while domestic demand added 0.2 per cent.

The data showed that exports dropped by two per cent in the fourth quarter while imports fell by 0.6 per cent, boding ill for struggling Eurozone states that had hoped to offload more of their goods on Germany, where rising wages, high employment and moderate inflation have boosted domestic demand.

     
     
  Joyce Campbell Clinic  
 

ADDRESS: 478 Barking Road

CITY: London

COUNTY: London

POST CODE: E6 2LT

TELEPHONE NUMBER: 020-8218-7420

CATEGORY: NHS Clinics

 

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