The ECB has unveiled a new crisis-fighting tool to counter an "unwarranted" jump in borrowing costs for more indebted eurozone governments as it hikes its interest rates for the first time in over a decade.
Inflation has surged back to levels not seen in many developed economies since the 1970s and 1980s. Economists and central bankers at the European Cental Bank's conference in Portugal warn it will take time before price rises cool.
Negotiations were difficult and the plan got off to a slow start, but Europe's huge post-coronavirus recovery fund may make its first payments in July after two important obstacles were passed
EU president-elect Ursula von der Leyen may have won a narrow majority in the European Parliament, but analysts say to lead the divided bloc she must build a stable support base