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The possibility of the digital euro

Published Tue, 25 Feb 2025 16:12:57 GMT

Paschal Donohoe is the Eurogroup president and the Minister for Public Expenditure, National Development Plan Delivery and Reform of Ireland.In recent years, the pace of innovation and change in the financial and payments sector has been exponential. We can now make payments, transfer money, and invest by using tools that didn’t even exist a few years ago. And between 2019 and 2022, the share of euro area mobile payments more than tripled in both number and value.These new technologies can benefit both consumers and companies, enabling greater access to financial services, offering more choices and increasing the efficiency of operations. But they also raise important questions about how to regulate them to safeguard our financial stability and protect consumers.We have seen the emergence of cryptocurrencies from private actors and the concept of Central Bank Digital Currencies (CBDCs) take hold globally. In this context, we need to consider how best to ensure our common currency — ...

Europe lurches into civil war over car engine ban

Published Tue, 25 Feb 2025 16:12:57 GMT

BRUSSELS — The future of the internal combustion engine is turning into a Franco-German war. An alliance of car-friendly countries led by Germany on Monday dialed up the temperature in a fight against EU legislation that would consign the engine to the scrapheap as part of landmark efforts to slash greenhouse gas emissions from transport.Following a meeting in Strasbourg, key ministers from a gang of car-loving countries said rules ending the sale of new combustion-engine cars and vans by 2035 — already accepted by the European Parliament and agreed in principle by member countries — needed changes. Or else.“There is no [European Commission] proposal that corresponds to what we expect, and that is why we have not yet reached our goal,” German Transport Minister Volker Wissing said after the meeting,But France isn’t planning to surrender. Paris signalled it will stand behind the EU’s 2035 zero emissions plan, as has Madrid, putting two of the bloc’s larg...

New poll says majority of Canadians want elections inquiry : In The News for Mar. 14

Published Tue, 25 Feb 2025 16:12:57 GMT

In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what’s on the radar of our editors for the morning of Mar. 14 …What we are watching in Canada …New polling suggests the majority of Canadians want the federal government to call an independent inquiry into foreign interference in the last two federal elections, but still feel the country’s electoral system is safe.Market research firm Leger surveyed 1,544 people between March 10 and 12, asking a range of questions about Canada’s electoral system and allegations of foreign interference.The results suggest 71 per cent of Canadians feel the electoral system is safe, while 29 per cent feel it is not.And the majority, 69 per cent of respondents, said they generally trust the results of elections in Canada. One in five said they do not trust the results, and another 11 per cent said they don’t know.The poll cannot be assigned a margin of error because onl...

Senator fears ‘modern Chinese exclusion’ but some redress activists reject link

Published Tue, 25 Feb 2025 16:12:57 GMT

Senator Yuen Pau Woo questions whether a foreign influence registry might become “a modern form of Chinese exclusion,” and says angry reaction to his suggestion proves his point about racial profiling and stigmatization.But some activists who were involved in campaigns to right the wrongs of Canada’s head tax on Chinese immigrants and the Chinese Immigration Act of 1923 — also known as the Chinese exclusion act — strongly dispute the comparison.“I can’t see how he can complete his statement with a straight face,” said Bill Chu, a veteran Vancouver activist who campaigned for head tax redress. Woo drew a link between the historic wrongs against Chinese immigrants in a Tweet on Friday, comparing it with efforts to create a foreign influence transparency registry.“100 years ago, as part of the Chinese Exclusion Act, Canada forced all Chinese people in the country to register or face deportation,” Woo said. “How can we prevent this r...

‘Riceboy Sleeps’ sparks frenzy of activity for B.C. writer-director Anthony Shim

Published Tue, 25 Feb 2025 16:12:57 GMT

TORONTO — There’s been nothing tranquil about the B.C.-set immigrant drama “Riceboy Sleeps” since its buzz-laden debut at Toronto International Film Festival last year.After its September premiere, the mother-son film collected a slew of festival awards, including $25,000 prizes at TIFF and the Windsor International Film Festival, the title of best Canadian film at the Vancouver International Film Festival and an audience prize at the Busan International Film Festival. Last week, “Riceboy Sleeps” was declared best Canadian feature by the Toronto Film Critics Association, an annual honour that comes with a $100,000 prize.Now, writer-director Anthony Shim says he’s excited to finally put the family drama before general audiences as the movie opens in theatres March 17.The staggered rollout across Canada includes Toronto, Montreal, Edmonton and Vancouver, with future release plans in Korea, Singapore and the United States.Shim notes the film will test the public’s appetite for cinema n...

Poll suggests most Canadians trust election results, want interference inquiry

Published Tue, 25 Feb 2025 16:12:57 GMT

OTTAWA — New polling suggests the majority of Canadians want the federal government to call an independent inquiry into foreign interference in the last two federal elections, but still feel the country’s electoral system is safe.Market research firm Leger surveyed 1,544 people between March 10 and 12, asking a range of questions about Canada’s electoral system and allegations of foreign interference.The results suggest 71 per cent of Canadians feel the electoral system is safe, while 29 per cent feel it is not.And the majority, 69 per cent of respondents, said they generally trust the results of elections in Canada. One in five said they do not trust the results, and another 11 per cent said they don’t know.The poll cannot be assigned a margin of error because online surveys are not considered truly random samples.Allegations that China meddled in the 2019 and 2021 federal elections have dominated debate on Parliament Hill for weeks, following a series of media re...

Canadians uninterested in King Charles’ coronation, British monarchy, survey suggests

Published Tue, 25 Feb 2025 16:12:57 GMT

MONTREAL — New polling results suggest Canadians are largely indifferent to King Charles, and more than half believe his May 6 coronation is the right time for the country to reconsider its ties with the monarchy.The web survey of 1,544 adults released Tuesday by market research firm Leger indicates many Canadians are greeting the ascension of Charles to the throne with a shrug.Only 12 per cent of respondents said it was good news that Charles is now King, compared to 14 per cent who said it was bad news and 67 per cent who were indifferent.Only 13 per cent of those surveyed said they felt a personal attachment to the monarchy, compared with 81 per cent who didn’t. The survey found the level of attachment to the monarchy has dropped since the days immediately following Queen Elizabeth’s death last September, when 19 per cent said they felt an attachment and 77 per cent said they didn’t. Indifference to Charles has also risen in the same period.A majority of respond...

Key dates in Recep Tayyip Erdogan’s 20-year rule of Turkey

Published Tue, 25 Feb 2025 16:12:57 GMT

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan, who is seeking a third consecutive term in office in elections in May, marks 20 years in power on Tuesday.The 69-year-old, who served as prime minister from 2003-2014 and as president thereafter, started as a reformist who expanded rights and freedoms, allowing his majority-Muslim country to start European Union membership negotiations.He later reversed course, cracking down on dissent, stifling the media and passing measures that eroded democracy.The presidential and parliamentary elections set for May 14 could be Erdogan’s most challenging yet. They will be held amid economic turmoil and high inflation, just three months after a devastating earthquake that killed tens of thousands.Here’s a look at some of the key dates during Erdogan’s rule:March 27, 1994: Erdogan is elected mayor of Istanbul, running on the pro-Islamic Welfare Party ticket.Dec. 12, 1997: Erdogan is convicted of “inciting hatred” for reading a poem that...

Daily horoscope for March 14, 2023

Published Tue, 25 Feb 2025 16:12:57 GMT

Moon Alert: There are no restrictions to shopping or important decisions today. The Moon is in Sagittarius.Happy Birthday for Tuesday, March 14, 2023:You have a fine mind, and you like to be intellectually stimulated. You are a sensitive, caring humanitarian. This year, service to others is your theme, which is why it’s important to take care of yourself. You might enroll in classes or consider a personal makeover. Personalize your home.ARIES(March 21-April 19) ★★Whoa, Nellie! Today is even tougher than yesterday. People might be pushy, and they might do it in an underhanded way. Unfortunately, you can’t take things at face value. Deceit and confusion are everywhere. Even you feel discouraged. It’s important to know when to do nothing. Tonight: Don’t fight.TAURUS(April 20-May 20) ★★There’s no point in trying to encourage a friend or a member of a group to go along with your plans, especially if they involve finances, third-party funding or getting suppo...

Parliament and Council negotiators agree on new rules to boost energy savings 

Published Tue, 25 Feb 2025 16:12:57 GMT

MEPs and the Swedish Presidency of the Council agreed on new energy saving targets in both primary and final energy consumption in the EU, ITRE.Member states should collectively ensure a reduction of energy consumption of at least 11.7% at EU level by 2030 (compared to the projections of the 2020 Reference Scenario). A robust monitoring and enforcement mechanism will accompany this objective to make sure member states deliver on their national contributions to this binding EU target.MEPs and the Council Presidency also agreed on annual energy savings by member states of 1.5% (on average) until 2030. The annual energy savings will begin with 1.3% in the period until the end of 2025, and will progressively reach 1.9% in the last period up to the end of 2030.The targets should be achieved through measures at local, regional and national levels, in different sectors - e.g. public administration, buildings, businesses, data centres, etc. MEPs insisted that the scheme should in particular...