Anonymous ID: 47eec8 June 4, 2020, 6:56 a.m. No.9464157   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>4287 >>4553 >>4700

RAF SNPSHT01 Global Explorer-Sentinel ZJ691 with a wide berth over the UK

The Sentinel R.Mk 1 provides long-range, wide-area battlefield surveillance, delivering critical intelligence and target tracking information to British and coalition forces. The aircraft has been operationally deployed in support of operations in Afghanistan, Libya and Mali, and is currently deployed in support of British and Coalition operations in Iraq and Syria. Using its powerful multi-mode radar, the Sentinelโ€™s mission crew identifies, tracks and images numerous targets over great ranges, passing the information in near real time to friendly forces. A team of intelligence imagery analysts from 1 Intelligence, Surveillance, Reconnaissance (ISR) Wing backs up the Sentinel crews, conducting in-depth forensic analysis of collected data, and using it to generate intelligence products for time-critical dissemination to commanders and decision makers, enabling them to execute current operations and plan future strategies.

https://www.raf.mod.uk/aircraft/sentinel-r1/

Anonymous ID: 47eec8 June 4, 2020, 7:16 a.m. No.9464319   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>4335 >>4553 >>4700

European Central Bank ramps up pandemic bond buys to 1.35 trillion euros

 

The European Central Bank has boosted its pandemic emergency support program by 600 billion euros to 1.35 trillion euros (US$1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus outbreak.

The central bank for the 19 countries that use the euro also extended the monetary stimulus program to at least the end of June next year, from the end of 2020 currently.

ECB President Christine Lagarde will give her assessment of the economy at a news conference after the meeting, which due to the pandemic was held by teleconference among the 25 members of the bank's governing council.

Under the pandemic support program, the ECB buys corporate and government bonds and other financial assets from banks, paying with newly created money. That helps lower longer-term interest rates, keeping the pandemic from drying up needed funding for borrowers.

The large size of the intended purchases also sends a signal to financial markets that the ECB is determined to ensure interest rates remain low throughout the eurozone and prevent borrowing costs from rising for indebted governments such as Italy.

While the ECB says its purchases are not targeted at supporting Italy, the program so far bought a larger share of Italian bonds than for other countries and is credited with keeping market pressure off a nation that has been among the hardest hit by the pandemic.

Italy's lockdown will cost it lost tax revenues and additional spending to support the economy. That means added borrowing that will boost its already large debt pile of 135 percent of annual economic output. Any investor doubts about Italy's ability to pay could lead to a spiral of higher borrowing costs and trigger a financial crisis similar to the one that led to Greece and four other member governments needing international bailouts in 2010-2015.

The support from the ECB comes on top of up to 540 billion euros agreed on by the eurozone member governments that includes credit lines from the euro bailout fund, and a longer-term recovery fund of 750 billion euro recovery fund backed by common borrowing by EU governments that is still being worked out. Germany, the largest member economy, on Wednesday proposed an additional 130 billion euros of stimulus including tax breaks and subsidies for buying electric cars.

The different support packages aim to cushion what the European Union's executive commission says will be a steep fall of 7.75 percent in economic output this year and to support a recovery in coming years.

The central bank left its key interest rate benchmarks unchanged at record lows on Thursday. The rate at which the ECB lends to banks is zero. Its rate on deposits left overnight by commercial banks is now minus 0.5 percent, a penalty aimed at pushing banks to lend the excess cash. The bank has also set up long-term offers of credit to banks at even lower rates if they show they are lending to companies.

https://www.thestandard.com.hk/breaking-news/section/2/148561/European-Central-Bank-ramps-up-pandemic-bond-buys-to-1.35-trillion-euros