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ECB interest rates hike sparks fear of deep recession in eurozone

Many millions of people living across the 27-nation EU are struggling to survive. Brussels resident Jeferson Araujo has endured two rent increases since March. His landlord says her mortgage is going up and so a further rent hike is needed.

In an attempt to bring down soaring inflation, the European Central Bank - which manages the euro - has announced interest rates are going up by a further 75 basis points. That represents a huge increase for people repaying home loans. The economic outlook could get even worse, the ECB warns.

Some EU leaders have warned the ECB that increasing interest rates so aggressively could push the eurozone into a deep recession. Higher rates impede business expansion and employment.

More Below:

https://www.presstv.ir/Detail/2022/10/28/691704/ECB-interest-rates-hike-deep-recession

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Ghana Interested in Purchasing Floating Nuclear Power Plant From Russia - Envoy

Ghana is interested in purchasing a floating nuclear power plant from Russia, Ghanaian Ambassador to Russian Koma Steem Jehu-Appiah told Sputnik.

"I know that our minister of energy was here last year and signed a corresponding agreement. I think this is innovative, and in a conversation with the minister of energy, he said that the country is interested.

So, Ghana could purchase such a nuclear power plant," the diplomat said when asked about the possibility of Ghana purchasing a floating nuclear power plant.
Russia and Ghana began cooperation in the field of nuclear energy after signing an intergovernmental agreement in 2015.

The agreement outlined plans for joint work in the areas of training specialists, building nuclear power plants and related infrastructure, and providing maintenance services. In October 2023, representatives of Rosatom met with the Ghanaian Ministry of Energy in Cape Town. At the meeting, Russia proposed using floating nuclear power plants to supply power to ...

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