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Tag Archives: european central bank
Greece: Are You Finally Ready to Do the Right Thing and Leave the Euro?
Greece: Are You Finally Ready to Do the Right Thing and Leave the Euro? The era of living off borrowed money is over in Greece, and the Greek people now have a choice. Almost four years ago I wrote Greece, Please Do The Right Thing: Default Now(June 1, 2011). Default remains the only real way forward […]
Thousands Of Anti-ECB Protesters Gather In Athens In “First Greek Pro-Government Rally” – Live Feed
Thousands Of Anti-ECB Protesters Gather In Athens In “First Greek Pro-Government Rally” – Live Feed In what is being described as “the first Greek pro-government rally”, thousands of people have gathered outside Greek Parliament in the infamous Syntagma Square to protest against a decision by the European Central Bank to restrict the eligibility of Greek bonds used […]
ECB Pulls The Trigger: Blocks Funding To Greece Via Debt Collateral – Full Statement
ECB Pulls The Trigger: Blocks Funding To Greece Via Debt Collateral – Full Statement Just what the market had hoped would not happen… *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL *ECB SAYS IT CAN’T ASSUME SUCCESSFUL CONCLUSION OF GREECE REVIEW What this means simply is that since Greek banks are now […]
How Much Longer Can Central Banks Push Bonds to Absurdity?
How Much Longer Can Central Banks Push Bonds to Absurdity? Central banks around the world have fallen all over each other lowering their benchmark interest rates. On Tuesday, the Reserve Bank of Australia was the latest, cutting its cash rate to an all-time low of 2.25%. It didn’t mince words: “A lower exchange rate is […]
Chaos, Fear, Panic Descend on EU’s Hallowed Halls of Power
Chaos, Fear, Panic Descend on EU’s Hallowed Halls of Power According to Greek private broadcaster Mega TV, “You just killed the Troika” were the parting words that Eurogroup Chief Jeroen Dijsselbloem whispered into the right ear of Greece’s new Finance Minister Yannis Varoufakis at the end of what was clearly a tense meeting. Varoufakis’ response […]
More euro-tragedy
More euro-tragedy Despite the uncertainties ahead of the Greek general election, the European Central Bank (ECB) went ahead and announced quantitative easing (QE) of €60bn per month from March to at least September 2016. What makes this interesting is the mounting evidence that QE does not bring about economic recovery. Even Jaime Caruana, General Manager […]
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece As Deutsche Bank’s George Saravelos politely puts it, “Developments since the Greek election on Sunday have moved very fast.” And indeed, so far the new Tsipras cabinet, and here we focus on the words and […]
ECB Euro QE Won’t Succeed
ECB Euro QE Won’t Succeed The European Central Bank (ECB) leaked the information beforehand to test the waters and this time followed through on their promise: Money printing galore in the form of 60 billion euros per month ($69 billion). ECB president Mario Draghi has been talking about it since 2012 and now finally got […]
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece As Deutsche Bank’s George Saravelos politely puts it, “Developments since the Greek election on Sunday have moved very fast.” And indeed, so far the new Tsipras cabinet, and here we focus on the words and […]
Greece at the Crossroads: the Oligarchs Blew It
Greece at the Crossroads: the Oligarchs Blew It Once one oligarchy falls, it will threaten to topple a long line of oligarch dominoes. A great many narratives invoking Greece are being tossed around, but only one really encapsulates the unvarnished truth: the Oligarchs blew it. The oligarchs in both Greece and the European Union/ECB had the […]
More reasons for the financial markets to worry
More reasons for the financial markets to worry Five tests of unity that the eurozone will face this week. In the wake of Sunday’s election in Greece, the unity of the eurozone will come under close scrutiny this week. The financial markets were already in a state of excitement over the launch of quantitative easing […]
Freedom, Where Are You? Not in America or Europe
Freedom, Where Are You? Not in America or Europe When the former Goldman Sachs executive who runs the European Central Bank (ECB) announced that he was going to print 720 billion euros annually with which to purchase bad debts from the politically connected big banks, the euro sank and the stock market and Swiss france shot […]
“QE Benefits Mostly The Wealthy” JPMorgan Admits, And Lists 8 Ways ECB’s QE Will Hurt Everyone Else
“QE Benefits Mostly The Wealthy” JPMorgan Admits, And Lists 8 Ways ECB’s QE Will Hurt Everyone Else Over the past 48 hours, the world has been bombarded with a relentless array of soundbites, originating either at the ECB, or – inexplicably – out of Greece, the place which has been explicitly isolated by Frankfurt, that […]
Carney Says QE Can Encourage Excessive Risk-Taking in Markets
Carney Says QE Can Encourage Excessive Risk-Taking in Markets Bank of England Governor Mark Carney warned easy monetary policy could prompt excessive risk-taking in financial markets. Two days after the European Central Bank announced a 1.1 trillion-euro ($1.23 trillion) quantitative-easing program, Carney said six years of sustained monetary stimulus was justified on an economic basis, […]
Troika Punches Panic Button on Greece and Spain
Troika Punches Panic Button on Greece and Spain After four years of inflicting economic pain and misery on Europe’s semi-bankrupt periphery, the Troika (IMF, ECB and European Commission) is suddenly in a lather over the potential political consequences of its disastrous economic policies: “I wouldn’t like extreme forces to come to power. I would prefer […]
