A Strong Euro Isn't What the Doctor Ordered
If experience over the last decade holds true, a too-strong euro is the last thing the euro area needs. Former European Central Bank President Mario Draghi always tried to avoid mentioning currency strength but was forced to address it in 2014, 2017 and again in 2018. However, it's his most recent foreboding intervention on the " Future of European Competitiveness" that's most relevant now.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
30 minutes ago
- Bloomberg
London Must Drop Listing ‘Snobbishness' to Fix Decline, CBI Says
The UK should stop looking down on companies seeking a secondary listing in London if it wants to rebuild the stock exchange's waning status, the leader of one of the country's main corporate lobby groups said.
Forbes
an hour ago
- Forbes
How This Eco-Friendly Bottle Of Wine Turned Waste Into Success
Enrico Raimondo in his company Everything begun in 2015 with a humble water bottle: this was the very first handmade item by Enrico Raimondo, a mechanical designer, inventor and artisan from Veneto. The material though was one-of-a-kind: his inventor called it Raimante, crasis between the inventor's surname and the Italian word 'diamante' (diamond). It's a brand-new material that was born from the sustainable reuse of composite fiber scrap from in-mold lamination, plotter cutting, impregnation, and so on. The outcome of a special patented process (one of the current 10 patents owned by Raimondo) turns the scraps of carbon, linen, glass, or Kevlar fibers into a new material; a composite which folds and molds like fabric. This way, it can be used in endless ways to create the most diverse objects. It's extremely light and overall eco-friendly: the environmental impact to get the Raimante is close to zero. "I use these scraps in real time, when I receive them by the companies that want it to dispose of them –explains Enrico Raimondo– I do not chemically or physically alter them, and work them with my hands. The only operations that emit CO2 are the transport of offcuts from companies to my laboratory, and the storage of rolls in a cold room. The rest of the procedure is completely manual." Although carbon fiber is not new, the way it is reused is. To date, carbon fiber was familiar mainly to sports people. Indeed, for years it has been used both to make racing bicycles and parts for racing cars, such as the body. But nobody has ever made small objects, such as a water bottle, a glass, or a plate." Giannitessari Lessini Durello Riserva Metodo Classico "Dosaggio Zero" in a wine bottle made with ... More Raimante material In 2017, after obtaining an international patent for composite fibers certified for food contact, he created 'Combo', the first carbon fiber wine bottle. This special bottle combines two significant qualities: lightness (a Jeroboam, or 3-liter bottle, weighs only 400 gr.) and strength (fiberglass is virtually unbreakable). These carbon-fiber bottles might solve the issues of bottle weight, which affects the cost of transportation, and accidental bottle breakage during transportation: two deeply felt issues by those in the industry. Regrettably, those kinds of wine bottles are currently costly. Raimondo produces only Jeroboam bottles, and even empty each of them costs nearly $800. ' This is because these pieces are made entirely by hand, one by one –the inventor says–The inner lining alone takes 72 hours to dry, and this step can only be done in the air." Despite the production costs of his products, though, over the years he ended up meeting a wine producer who shared his philosophy of working for a more sustainable world: Gianni Tessari, a renowned producer of still and sparkling wines in Montecchia di Crosara (Verona, Italy). A wine bottle made with Raimante material Three years ago, the two entrepreneurs began a collaboration that lasts to this day. For Giannitessari winery, Raimondo has made – and still makes - a series of carbon, kevlar, and linen fiber bottles, each one being handcrafted and customized one by one. For his part, Gianni Tessari is the first producer in the Verona province who decided to bottle some of his most important wines, as the sparkling wine classic method 'Lessini Durello Extra Brut 60 Months', in very few magnums. Today, Enrico Raimondo is committed to many different projects, that range from the fashion sector (sports bags, shoes, belts, document holders) to kitchen utensils (plates, trays, glass), to the racing world (he is a Lamborghini official supplier, and collaborates also with the Ferrari racing stable), to the design for household furniture. And on and on. 'My aim has always been to create a better world for our children and for all of us –he concludes– Eventually I can say that this philosophy of sustainability begins to be understood and shared by more and more people, even taking the most unexpected directions.' Elisabetta Tosi
Yahoo
2 hours ago
- Yahoo
German business sentiment rises: Ifo sees sixth consecutive lift
Germany's closely-watched IFO index, which measures business optimism in the country, rose in June despite wider geopolitical uncertainty. Firms rated the business climate at 88.4, the sixth consecutive monthly rise, and a notch up from the 87.5 reading seen in May. Business expectations came in at 90.7, up from 89.0 recorded in the previous month, and also marking the highest level seen since early 2023. The optimism comes despite geopolitical risks that threaten the German economy. A 90-day pause to so-called 'reciprocal' tariffs imposed by the US will come to an end on 9 July, creating significant uncertainty for Europe. The EU could see a baseline tariff of 10% jump to 50% if a deal is not reached before then. Related Highest-paying jobs in Germany: Official data and job postings reveal top salaries German economic morale soars in June: 'Confidence is picking up' Added to this, President Donald Trump has already reintroduced a 50% duty on EU steel and aluminium entering the US, as well as placing a 25% tariff on imported cars and car parts. In 2024, Germany posted a record trade surplus with the US of €69.95 billion. This year, the rising value of the euro may slightly hamper exports as it behaves like an extra tariff, making German goods more expensive for some overseas consumers. Despite these headwinds, there are factors contributing to the positive business climate in Germany, notably the government's pledge to increase spending. Berlin has recently approved a constitutional amendment to its 'debt brake' rule, meaning defence spending above 1% of GDP will not be subject to borrowing limits. Chancellor Friedrich Merz wants to boost military spending to 3.5% of gross domestic product by 2029. The government has also created a €500 billion extrabudgetary fund for additional infrastructure spending, set to give businesses an added boost. Germany's economy grew by a greater-than-expected 0.4% in the first quarter of this year, partly linked to US tariff frontloading. Declining interest rates are also easing borrowing costs for German businesses. At the start of June, the ECB lowered its benchmark interest rate by a quarter point to 2%, its lowest level in more than two years. Markets widely expect the ECB to hold its benchmark interest rate steady during its next policy meeting on 23-24 July. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
