Posts Tagged ‘ECB’s’
Who hoards large quantities of high-denomination banks notes? Money launderers, organized crime and drug dealers.
Who benefits? The European Central Bank.
Irish central bank governor Honohan says “It is a good idea, laying out the facts for the major banks. I think it will go some way to removing exaggerated concerns about some particular risks.”
Best the authorities get their collective bottoms in gear then.
Slower growth ahead, but growth to continue
Do not expect major problems coming out of stress test
All advanced economies are in difficult situation; must consolidate fiscally
IMF has not caught up with reality–underestimates euro zone recovery
The ECB gab-fest continues with the chief economist weighing in. I love the shot at the IMF…
EUR/USD is at session lows after [...]
Non-standard measures (refis at full allotment, sterilized bond buying..) are fully consistent with price stability.
Tougher sanctions needed for fiscal rule-breakers
Countries with large deficits face a period of low demand
Lower for longer in the euro area as well, sounds like…
EUR/USD firms bit more, presently at 1.2535.
Euro zone cannot allow a country to default
Luxembourg’s Mersch says he questions whether stress testing the largest banks is sufficient.
He’s not alone.
EUR/USD has dipped toward the base of the recent ranges, now at 1.2365. US equities are easing as well, now up 0.4% after opening up more than 1%. Small stops are seen below 1.2350 but central bank buying was rumored on [...]
Well there’s your problem!
ECB executive board member Bini-Smaghi says that Germany will continue to outpace the rest of Europe growth-wise. This will make it very difficult, in a fixed exchange rate regime, for Club Med countries to maintain competitiveness. It is very difficult to pull out of recession in an uncompetitive economy unless a rise [...]
ECB board member Juergen Stark on German radio has opined “It is not the case that we have a weak euro at the moment, the purchasing power of the euro is secured and will remain so.” The official added “Our monetary policy has not changed and the measures we decided on May 9 did not [...]
Greece has adopted very strong measures, shown will to put them in practice
Europe is taking steps as well as to strengthen budget rules
Italy must cut public spending to get room to reduce taxes
Italy, other countries budget laws’ objective is return to primary surplus
Rigorous stability pact has been positive factor for Italy
Euro zone recovery will be [...]
A theme has emerged among policy makers in Europe: the rescue package buys time but does not solve the problem. We have seen announcements of further austerity from Spain and Portugal, but the market is still concerned that the action is insufficient to stem the tide of debt.
Ratings agencies suck is the other essential message [...]
