Euro weakened against the pound yesterday, as Nigel Farage announced that the Brexit Party would not be standing in any seats the Conservative Party already holds. Meanwhile, the ECB’s council is calling for changes in decision-making, as Christine Lagarde takes up her post as President. They are calling for formal votes on issues such as setting interest rates, as well as stopping the President from announcing policy before discussing it with the council, effectively tying their hands. Lagarde told the media that, taking up her post, she would ‘start with teamwork’.
Local media in Croatia is reporting that the country’s central bank governor, Boris Vujcic, has said the country could join the eurozone as early as 2023. The government has already sent forward its letter of intent to enter the European Exchange Rate Mechanism II, back in July, and intends to have the process completed within a year.
The euro was given a boost late yesterday evening after reports that President Trump may delay auto tariffs on the EU for six months.
