Emilie Vanderhulst
@emilievanderhulst.bsky.social
🇪🇺 covering ECB monetary policy + EMU + EcoFin + EU budget EUlaw and, sometimes, CFSP-CSDP / daily EU brief BXFM radio | OV
Imposing sanctions on a former EU Commissioner because he was in charge when 🇪🇺 decided to establish rules (you may like them or not) for firms willing to operate in ITS OWN Single Market 🤯. Crazy times.
(Plus, they don’t understand how the EU legislative process works)
(Plus, they don’t understand how the EU legislative process works)
December 24, 2025 at 7:04 AM
Imposing sanctions on a former EU Commissioner because he was in charge when 🇪🇺 decided to establish rules (you may like them or not) for firms willing to operate in ITS OWN Single Market 🤯. Crazy times.
(Plus, they don’t understand how the EU legislative process works)
(Plus, they don’t understand how the EU legislative process works)
1/n #EUCO #Ukraine The big come EU enhanced cooperations?
EU leaders have finally ruled out the idea of mobilising Russian #frozenassets and have decided to provide Ukraine with a 0-interest €90b loan, borrowed by the EU on capital markets and backed by #EUbudget… through EU enhanced cooperation
EU leaders have finally ruled out the idea of mobilising Russian #frozenassets and have decided to provide Ukraine with a 0-interest €90b loan, borrowed by the EU on capital markets and backed by #EUbudget… through EU enhanced cooperation
December 19, 2025 at 4:40 AM
1/n #EUCO #Ukraine The big come EU enhanced cooperations?
EU leaders have finally ruled out the idea of mobilising Russian #frozenassets and have decided to provide Ukraine with a 0-interest €90b loan, borrowed by the EU on capital markets and backed by #EUbudget… through EU enhanced cooperation
EU leaders have finally ruled out the idea of mobilising Russian #frozenassets and have decided to provide Ukraine with a 0-interest €90b loan, borrowed by the EU on capital markets and backed by #EUbudget… through EU enhanced cooperation
"I know that Russia is intimidating different countries over this decision" President Zelenskyy wrote, on #FrozenAssets, adding that Russia would see an absence of decision on the subject as a sign of weakness of the EU
December 18, 2025 at 3:47 PM
"I know that Russia is intimidating different countries over this decision" President Zelenskyy wrote, on #FrozenAssets, adding that Russia would see an absence of decision on the subject as a sign of weakness of the EU
1/n @president.ecb.europa.eu on the #EUCO, the EU support to Ukraine and #frozenassets: "it's for the leaders to decide. And, given the importance of the matter, given what is at stake, I am fully confident that they will find a solution. It could be this usual European way, going in circles
December 18, 2025 at 3:07 PM
1/n @president.ecb.europa.eu on the #EUCO, the EU support to Ukraine and #frozenassets: "it's for the leaders to decide. And, given the importance of the matter, given what is at stake, I am fully confident that they will find a solution. It could be this usual European way, going in circles
Today is also a @ecb.europa.eu Governing Council #monetarypolicy meeting day!
The #ECB is likely to keep its key rates on hold, but let's wait and see!
📷 Angela Morant/ECB
© 2025 European Central Bank
The #ECB is likely to keep its key rates on hold, but let's wait and see!
📷 Angela Morant/ECB
© 2025 European Central Bank
December 18, 2025 at 10:26 AM
Today is also a @ecb.europa.eu Governing Council #monetarypolicy meeting day!
The #ECB is likely to keep its key rates on hold, but let's wait and see!
📷 Angela Morant/ECB
© 2025 European Central Bank
The #ECB is likely to keep its key rates on hold, but let's wait and see!
📷 Angela Morant/ECB
© 2025 European Central Bank
#EUCO en of doorsteps time for the EU leaders arriving in Brussels for a busy December summit.
🇺🇦First point at the agenda: Ukraine and the EU support to Ukraine.
🇪🇺The other strategic discussions today will focus on the next Multiannual Financial Framework (#MFF) aka long term #EUbudget
🇺🇦First point at the agenda: Ukraine and the EU support to Ukraine.
🇪🇺The other strategic discussions today will focus on the next Multiannual Financial Framework (#MFF) aka long term #EUbudget
December 18, 2025 at 10:20 AM
Reposted by Emilie Vanderhulst
Powell called out Trump for making stuff up to smear him
"I'm not aware of that, Mr President. I haven't heard that from anybody at the Fed. You just added in a third building is what that is. No, it was built five years ago. We finished it five years ago. It's not new."
"I'm not aware of that, Mr President. I haven't heard that from anybody at the Fed. You just added in a third building is what that is. No, it was built five years ago. We finished it five years ago. It's not new."
July 24, 2025 at 8:51 PM
Powell called out Trump for making stuff up to smear him
"I'm not aware of that, Mr President. I haven't heard that from anybody at the Fed. You just added in a third building is what that is. No, it was built five years ago. We finished it five years ago. It's not new."
"I'm not aware of that, Mr President. I haven't heard that from anybody at the Fed. You just added in a third building is what that is. No, it was built five years ago. We finished it five years ago. It's not new."
Reposted by Emilie Vanderhulst
Five US banking associations challenge the banking licence applications submitted by several crypto firms alleging that custody services are not fiduciary services
www.aba.com
July 24, 2025 at 2:20 PM
Five US banking associations challenge the banking licence applications submitted by several crypto firms alleging that custody services are not fiduciary services
Answering a question on the risk assessment in the 24 July #ECB monetary statement, ECB President Christine Lagarde clarified: "as a result of our strategy review, it was determined that we had to amplify, enhance, and probably give a slightly higher focus to risk assessments.
July 24, 2025 at 2:09 PM
Answering a question on the risk assessment in the 24 July #ECB monetary statement, ECB President Christine Lagarde clarified: "as a result of our strategy review, it was determined that we had to amplify, enhance, and probably give a slightly higher focus to risk assessments.
ECB President Lagarde @president.ecb.europa.eu on the availability of liquidities: "there is still plenty of liquidity in the system."
"the volume has reduced over the course of time and it has reduced as a result of the reinvestment of #TLTROs, which is now completed.
"the volume has reduced over the course of time and it has reduced as a result of the reinvestment of #TLTROs, which is now completed.
July 24, 2025 at 2:01 PM
ECB President Lagarde @president.ecb.europa.eu on the availability of liquidities: "there is still plenty of liquidity in the system."
"the volume has reduced over the course of time and it has reduced as a result of the reinvestment of #TLTROs, which is now completed.
"the volume has reduced over the course of time and it has reduced as a result of the reinvestment of #TLTROs, which is now completed.
The #ECB Governing Council decided today to have a break in rates cuts and maintain the 3 ecb key rates unchanged
• Inflation at 2% med.-term target
• Domestic price pressures incl. wage growth continue to ease
BUT environment remains exceptionally uncertain, especially because of trade disputes
• Inflation at 2% med.-term target
• Domestic price pressures incl. wage growth continue to ease
BUT environment remains exceptionally uncertain, especially because of trade disputes
July 24, 2025 at 12:58 PM
The #ECB Governing Council decided today to have a break in rates cuts and maintain the 3 ecb key rates unchanged
• Inflation at 2% med.-term target
• Domestic price pressures incl. wage growth continue to ease
BUT environment remains exceptionally uncertain, especially because of trade disputes
• Inflation at 2% med.-term target
• Domestic price pressures incl. wage growth continue to ease
BUT environment remains exceptionally uncertain, especially because of trade disputes
Reposted by Emilie Vanderhulst
If we destroy nature, we destroy the economic activity that depends on it, says Executive Board member Frank Elderson. We are therefore assessing nature-related risks and the impact of ecosystem degradation on economic variables like inflation and growth europa.eu/!nNxPWr
May 22, 2025 at 3:47 PM
If we destroy nature, we destroy the economic activity that depends on it, says Executive Board member Frank Elderson. We are therefore assessing nature-related risks and the impact of ecosystem degradation on economic variables like inflation and growth europa.eu/!nNxPWr
#monetarypolicy | As expected by most of the observers, the #ECB Governing Council announced today that it decided to lower the three ECB key rates by 25 bps
📄 www.ecb.europa.eu/press/pr/dat...
📄 www.ecb.europa.eu/press/pr/dat...
April 17, 2025 at 12:24 PM
#monetarypolicy | As expected by most of the observers, the #ECB Governing Council announced today that it decided to lower the three ECB key rates by 25 bps
📄 www.ecb.europa.eu/press/pr/dat...
📄 www.ecb.europa.eu/press/pr/dat...
Reposted by Emilie Vanderhulst
People got this wrong once, and so everyone is hesitant to predict the same today. But things are much worse for the US than in 2008: public debt levels, the fiscal largesse and the catastrophic state of the IRS, the US lost its allies, and the EU is doing much more to boost the international euro
It’s funny how the ‘wrong crisis’ predicted by Bernanke and co pre 2008 (tensions with China > UST sell-off > dollar crisis > fiscal crisis) is now very much plausible.
April 17, 2025 at 9:24 AM
People got this wrong once, and so everyone is hesitant to predict the same today. But things are much worse for the US than in 2008: public debt levels, the fiscal largesse and the catastrophic state of the IRS, the US lost its allies, and the EU is doing much more to boost the international euro
#monetarypolicy | #ECB more than likely to further cut its key rates today. So, - 25 bps?
April 17, 2025 at 9:05 AM
#monetarypolicy | #ECB more than likely to further cut its key rates today. So, - 25 bps?
Packed house for the @epc_eu policy dialogue focused on “The future of EU-UK relations on defence & security, trade & investment”. Insightful comment by Fabian Zuleeg on the common benefits the two parties would gain in a rapprochement in the field of capital markets but also on challenges regarding
March 14, 2025 at 11:29 AM
Packed house for the @epc_eu policy dialogue focused on “The future of EU-UK relations on defence & security, trade & investment”. Insightful comment by Fabian Zuleeg on the common benefits the two parties would gain in a rapprochement in the field of capital markets but also on challenges regarding
Very interesting initiative from ECB to foster independent academic research and economic analysis
Good news for researchers - don't miss out!
We just launched a pilot project @ecb.europa.eu to share anonymised data on bank balance sheets and interest rates for loans and deposits in the euro area. 1/2
www.ecb.europa.eu/press/pr/dat...
We just launched a pilot project @ecb.europa.eu to share anonymised data on bank balance sheets and interest rates for loans and deposits in the euro area. 1/2
www.ecb.europa.eu/press/pr/dat...
ECB launches pilot project for research access to confidential statistical data
The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purch...
www.ecb.europa.eu
March 14, 2025 at 9:55 AM
Very interesting initiative from ECB to foster independent academic research and economic analysis
1/2 Christine Lagarde at #ECBandItsWatchers conference: "In this way, clarity on the reaction fonction can be seen as providing framework guidance – i.e. a type of guidance that comes from the discipline implicit in a monetary policy framework
March 12, 2025 at 2:03 PM
1/2 Christine Lagarde at #ECBandItsWatchers conference: "In this way, clarity on the reaction fonction can be seen as providing framework guidance – i.e. a type of guidance that comes from the discipline implicit in a monetary policy framework
The European Commission responds with countermeasures to US announcement that it would impose 25% tariffs on imports of steel and aluminium, which Commission qualifies as unjustified
March 12, 2025 at 8:21 AM
The European Commission responds with countermeasures to US announcement that it would impose 25% tariffs on imports of steel and aluminium, which Commission qualifies as unjustified
The EU rn: Never waste a good crisis
"Trump is making Europe great again. The US president has provided the biggest stimulus towards European integration since the end of the cold war"
Totally agree with @gideonrachman.bsky.social I also argued similar before the US election (oh and how I was shouted at)
www.ft.com/content/724d...
Totally agree with @gideonrachman.bsky.social I also argued similar before the US election (oh and how I was shouted at)
www.ft.com/content/724d...
Trump is making Europe great again
The US president has provided the biggest stimulus towards European integration since the end of the cold war
www.ft.com
March 10, 2025 at 4:12 PM
The EU rn: Never waste a good crisis
1/n #eurogroup Commissioner Dombrovkis: As regards fiscal flexbility, what we propose is to activate national escape clauses, which would allow MSs for a limited period of time (just 4 years) to spend more on defence by up to one and half % of GDP each of those years. Current economic
March 10, 2025 at 3:16 PM
1/n #eurogroup Commissioner Dombrovkis: As regards fiscal flexbility, what we propose is to activate national escape clauses, which would allow MSs for a limited period of time (just 4 years) to spend more on defence by up to one and half % of GDP each of those years. Current economic
Full report of the March 2025 #ECB staff macroeconomic projections for the euro area, including the revised projections for inflation and growth
📄 www.ecb.europa.eu/press/projec...
📄 www.ecb.europa.eu/press/projec...
ECB staff macroeconomic projections for the euro area, March 2025
The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purch...
www.ecb.europa.eu
March 7, 2025 at 3:14 PM
Full report of the March 2025 #ECB staff macroeconomic projections for the euro area, including the revised projections for inflation and growth
📄 www.ecb.europa.eu/press/projec...
📄 www.ecb.europa.eu/press/projec...