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Croations are worried the Euro is leading to higher prices

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The country adopted the euro as its offical currency on January 1

 
Croatians are complaining about steep price hikes after the country introduced the euro on January 1.

The situation has left the government and businesses at loggerheads with traders blaming inflation for the rises.

At this open-air market in Zagreb, people are on the hunt for the freshest produce and the lowest prices.

But since Croatia started using the euro at the beginning of the year – shoppers say prices have spiked, making that hunt a lot harder.

“We have all felt the price increases,” says one woman. “It’s certainly 30% more, for everything.”

This shopper says he’s felt it too – adding that he knows people looking for new jobs to cope.

When traders began to round prices from the local currency in January – most shot up.

The government has threatened sanctions unless they cut prices back again – but traders point the finger at inflation.

Igor Vujovic is the president of the country’s consumers’ association.

“We have been observing what’s happened from January 1, when we switched to the euro, and the prices have been going wild. Energy, oil, electricity and water prices didn’t change in the previous two months. We switched to the euro and the prices are still rising between 5 and 20 percent, I can say everyday in the last 10 days – it depends on the product.”

Over a two-week period, inspectors handed out fines totalling more than $250,000 and found about 40 percent of businesses hiked prices unjustifiably.

Critics say the government rushed to introduce the euro amid an energy crisis and high inflation.

Last year Croatia reported one of the highest inflation rates in the EU, with an annual rate of 10.8 percent.

But the government has long argued the euro will make Croatia’s economy stronger and make the country more resistant to external shocks. #trending #featured

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A British digital currency “later this decade”

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The Bank of England and Britain’s finance ministry think the UK is likely to need to create a central bank digital currency later this decade.

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Telegraph quoted BoE Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” the Telegraph quoted the report saying.

The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly.

A government source said the report would be published next week.

BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE’s CBDC work.

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Disney’s Drama

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What’s going on at Disney and why is the world’s largest entertainment company in trouble?

 
Dreams are a wish your heart makes, or at Disney, dreams are having a tough time of coming true.

After decades of turning children’s dreams into fantasies, the mouse-house is facing a crisis of leadership.

This Ticker Original looks at how the Walt Disney Company got here, and what happens next. #disney #bob iger

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The Tech Market Crash

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Since the Global Financial Crisis, tech companies have been riding high and making billions, so what happened?

 
It’s been a shocking year for tech companies. Riding high off the back of the pandemic, reality suddenly hit.

Across Silicon Valley, and spreading to Wall Street, the once darlings of the Nasdaq were suddenly hit hard.

So what happened, and where to from here?

This Ticker Original investigates. #snapchat #apple #tech stocks #nasdaq

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