FT News Briefing Amsterdam becomes Europe’s trading hub, AstraZeneca vaccine to help poor countries, Italy’s recovery fund
Feb 11, 2021
Amsterdam has overtaken London as the biggest trading hub in Europe, highlighting a shift in financial dynamics post-Brexit. Meanwhile, the Federal Reserve's chairman emphasizes a need for patience to support the US labor market. The WHO's endorsement of the AstraZeneca vaccine aims to assist low-income countries in pandemic recovery. Italy is set to receive €200 billion from the EU recovery fund to rejuvenate its economy, but faces challenges in effectively utilizing these resources and navigating bureaucratic hurdles.
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Amsterdam's Rise
- Amsterdam overtook London as Europe's top share trading hub in January due to Brexit.
- EU-based financial institutions are banned from trading in the UK, boosting Amsterdam's volumes.
Powell's Policy
- Federal Reserve Chairman Jay Powell emphasized maintaining accommodative monetary policy.
- He believes the US job market still needs support despite inflation concerns.
WHO Vaccine Recommendation
- The WHO recommended the Oxford/AstraZeneca vaccine for all adults, despite some countries' restrictions.
- This is crucial for the COVAX program, supplying vaccines to lower-income nations.