Greece’s current account recorded a deficit of 408.8 million euros in September, from a surplus of 1.1 billion euros in August, Bank of Greece (BoG) data released on Thursday showed.

Euro area insurers manage several trillion euro in assets and take a long‑term investment perspective. To counteract the long period of low interest rates, they have shifted towards holding more alternative and less liquid assets. As a result, their balance sheets have become less liquid and more sensitive to market conditions overall. Meanwhile, their holdings of sovereign bonds show a significant home bias, which may have even increased with quantitative easing.

Leadership and other people skills are only going to rise in value to employers. NoMoreStock/ShutterstockAcross the world, workers are increasingly anxious that artificial intelligence (AI) will make their jobs obsolete. But the evidence from research and industry tells a very different story. AI is not taking over the workplace. Instead, it’s quietly reshaping what human work looks like – and what makes people valuable within it.

Arun Gupta, Horacio Sapriza, and Vladimir YankovWe examine the firm-level and aggregate effects of the collateral channel using administrative bank-firm-loan level data. We introduce novel instrumental variables related to the efficiency of federal district bankruptcy courts and show their importance as predictors of collateral use and banks' expected losses given default across collateral types.