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Month: February 2023

“Resilient EU” to escape recession in 2023

by: Stephanie Horsman
14/02/2023
recession

The European Commission has announced that the EU is on a ‘healthier footing’ than expected in 2023, and may escape recession, experience growth and see prices fall. 

The dire warnings of early autumn have been toned down with the release of the European Commission’s Winter 2023 Economic Forecast.  

EU Commissioner for the Economy Paolo Gentiloni held a press conference on Monday that set out a fairly rosy picture, compared to the doom and gloom of last year.  

His key messages included word that the EU’s economy was looking better than anticipated and is expected to avoid recession this year. This is mainly due to positive developments, including gas prices falling to below pre-war levels, a mercifully mild winter and better growth than previously thought.  

The EU’s growth forecast is now set at 0.8%, a full 0.5 points above the autumnal projection, and the 2022 numbers have been revised up by 0.3% to 3.5%.  

Additionally, inflation, according to Gentiloni, has peaked and is now set to decline. This is mainly credited to fast-declining energy prices. As a result, the inflation forecast is falling from a terrifying 9.2% in 2022 to a more modest 6.4% in 2023, and a manageable 2.8% expected for 2024.  

Of particular interest is the stabilisation of wages versus inflation by 2024. This year will see a continuation of less purchasing power for employees due to higher costs, but nominal wage growth is anticipated to pick up by 2024 and, coupled with higher minimum wages in several member states, this will give the economy a boost with consumers opening their wallets more freely than is the current case.  

Past risk factors, such as the pandemic and gas shortages, have diminished, but this is counter-balanced by the continuing uncertainty caused by the war in Ukraine as well as weaker demand for trade. Labour shortages and job vacancy rates are also to remain tight for the next two years, though with growth picking up, this should change.  

In general, the future is looking significantly brighter in economic terms for the EU, with growth percentages in 2022 outstripping the world’s usual powerhouses of the USA and China.  

 

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Photo by Mathieu Stern for Unsplash 

Proud Pink Ribbon Monaco association makes generous donation to Princess Grace Hospital

by: Elsa Carpenter
14/02/2023
pink ribbon monaco

After a weekend of charity walks and a gala dinner, Pink Ribbon Monaco has made an important donation of €25,000 to Monaco’s Princess Grace Hospital, which will fund vital medical research into the detection of lobular breast cancer. 

The €25,000 cheque handed to the Centre Hospitalier Princesse Grace on Monday 13th February by founder Natasha Frost-Savio (second from right in photo) was the product of a successful charity auction during the association’s Dare to Bear gala dinner at the Hotel Hermitage over the weekend. It was part of a number of events run by the charity this month, which included the popular Pink Ribbon Walk.

“These funds will be put to work immediately, beginning medical research led by Doctor Florent Hugonnet that will improve the detection of lobular breast cancer, one of the most difficult breast cancers to detect,” says Frost-Savio. “After 12 years of working to raise awareness of breast cancer screening, Pink Ribbon Monaco is very proud to start a new chapter by raising funds for science.” 

The new method of medical imagery studied by Doctor Hugonnet will ultimately better doctors’ abilities to identify and target cancerous cells quicker and more efficiently while improving survival and recovery rates among patients.  

To learn more about the association and its work, please click here.

 

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Photo source: Monaco Communications Department

The Sea is Green: SBM launches cultural season with evening of art and gastronomy at the Hotel Hermitage

by: Elsa Carpenter
14/02/2023
the sea is green

A season of art de vivre begins on 11th March with a prestigious dinner recital, Musique de l’Eau, at the Hotel Hermitage.

The Winter Garden will host this exceptional night of culture – one that combines music with haute cuisine and an art exhibition – described by SBM as a “tribute to a more gentle way of life”.  

The event is entitled Musique de l’Eau and Monegasque pianist Stella Almondo is to perform while Michelin-starred chef Yannick Alléno will provide the gourmet accoutrements in the form of a four-course meal alongside a display of sea-themed creations by ceramist Jean Boghossian.  

Tickets to the event, which marks the beginning of SBM’s The Sea is Green programme, cost €410. Reservations are required and can be made here.  

 

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Photo by Société des Bains de Mer

The Guardians of the Planet premieres in Monaco

by: Elsa Carpenter
13/02/2023
Les Gardiennes de la Planète

The Grimaldi Forum was honoured with the premiere screening of Les Gardiennes de la Planète last week, a project supported the Prince Albert II Foundation and UNESCO, in an event well-attended by the Princely family.  

Prince Albert II led the blue carpet at the Grimaldi Forum on Thursday 9th February alongside members of the Grimaldi family as well as the film’s director, Jean-Albert Lièvre, narrator Jean Dujardin and CEO of the Prince Albert II Foundation, Olivier Wenden.  

The French-language production, which will hit cinemas on Wednesday 22nd February after a number of special previews, including screenings at schools throughout the Principality, walks a line between documentary and story-telling.  

Told from the point of view of the whale and tracing a dramatic beaching on a remote shore, Les Gardiennes de la Planète – or The Guardians of the Planet in English – confronts the complex challenges of climate change that threaten this great species and provides a strong warning of the consequences the world could face if these giants disappear from the oceans.  

It offers a marvel of underwater cinematography with incredible screens featuring family groups in a range of locations around the world.

See the trailer below for a taster of this magical experience. 


 

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Monaco Red Cross releases €100,000 for earthquake rescue efforts

by: Cassandra Tanti
13/02/2023

The Monaco Red Cross has released €100,000 of its own funds for the International Federation of Red Cross and Red Crescent Societies (IFRC) in support of the Turkish and Syrian earthquake relief.

“Aware of the very worrying humanitarian situation throughout the region affected by the earthquake, the Monaco Red Cross, in accordance with the wishes of its President, has decided to release €100,000 from its own funds to support the populations and help with the deployment of the teams on the spot,” said the charity in a public statement.

In view of the scale of the disaster in Turkey and Syria and the ever-increasing number of dead and injured, the International Federation of Red Cross and Red Crescent Societies (IFRC) is launching emergency appeals totaling 200 million Swiss francs in response to the deadly 7.7 magnitude earthquake that struck Turkey and Syria on Monday 6th February.

There are now warnings that the death toll could double from the current tally of 33,000.

Following the devastating quake, the Monaco Red Cross launched an appeal for public donations to support the IFRC in its emergency response.

You can make a donation by specifying “Turkey/Syria” in a bank check or in cash to be deposited at the headquarters of the Monaco Red Cross – 27 bd de Suisse, 98000 Monaco (tel. +377 97.97.68.00), via the website www.croix-rouge.mc, or by bank transfer (RIB available online).

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Roca Team retain top spot despite defeat

by: Luke Entwistle
13/02/2023

AS Monaco Basketball suffered a surprise defeat against Bourg-en-Bresse in the Betclic Elite on Sunday (90-88) ahead of a week of cup action.

The Roca Team were pegged back by Bourg-en-Bresse despite a fluid first-quarter performance, during which the side scored 33 points and earned an 11-point lead. By half-time, Sasa Obradovic’s men had reached the 60-point mark and were on course to register a mammoth 120 points.

Elie Okobo steps up

However, their opponents found the defensive solutions in the second half, limiting Monaco to just 28 points in the remaining two quarters, and just 12 in a third quarter that proved costly.

In the absence of Mike James, Elie Okobo was Monaco’s main source of points, registering 16 on the afternoon, as well as leading the playmaking efforts with six assists. However, that wasn’t enough for the Roca Team, who couldn’t overturn the deficit in the final 10 minutes. Obradovic’s men succumbed to just their fourth league defeat of the season, but remain two points ahead of second-placed Boulogne-Levallois.

A warning

“We can’t allow such a performance. We lost our concentration because we wanted to speak with the referees too much. As a result, we were no longer present in attack, and that spread to our defence,” said Obradovic post-match.

Monaco next face Victor Wembanyama’s Boulogne-Levallois in the French Basketball Cup on Wednesday before another cup tie, once again against Bourg-en-Bresse in the Leaders’ Cup on Friday. For Obradovic, Sunday’s defeat serves as another lesson for those ties: “We totally lost control. It is a good warning for the upcoming matches.”

 

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Photo by AS Monaco Basket