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Italian Banks On Verge Of New Crisis After €400 Million Hole Emerges At Banca Carige
Italian Banks On Verge Of New Crisis After €400 Million Hole Emerges At Banca Carige Remember the Italian “doom loop”? Two months ago we reported that during the first Italian bond market freakout this May over the ascent of the populist due of Salvini-Di Maio to the Italian throne, Italian bank holdings of domestic government […]
Europe In Panic Mode Over Economy As USA Soars
Europe In Panic Mode Over Economy As USA Soars The eurozone’s economic growth rate has slumped to a four-year low. The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2%, the slowest rate in more than four years. With the 19-nation […]
Bundesbank warns of Coming Pension Crisis
Bundesbank warns of Coming Pension Crisis The Bundesbank has come out warning that there is a German pension crisis. They have proposed that states raise the pension tax and that they should gradually increase the retirement age because the life expectancy in the future has risen. Central Bank President, Jens Weidmann, has stated that he is generally in […]
The Italian people must understand that their country is at war
The Italian people must understand that their country is at war The conflict between the European Union and Italy is a full-blown financial war. Euro countries cannot print their own money and for that reason they cannot have an endless deficit. Countries within the eurozone have to live within their means or else, without the […]
Europe More Than Europe: From ‘Boom’ To The Precipice of Recession
Europe More Than Europe: From ‘Boom’ To The Precipice of Recession Data dependent, they claim. They aren’t. Mario Draghi at his last press conference admitted, “incoming information, [is] somewhat weaker than expected.” There is so much riding on the word “somewhat.” Because of the weasel, the head of the ECB told the assembled media policy […]
Why’s France so Worried about Italy’s Showdown with Brussels?
Why’s France so Worried about Italy’s Showdown with Brussels? The French megabanks are on the hook. France was just served with a stark reminder of an inconvenient truth: €277 billion of Italian government debt — the equivalent of 14% of French GDP — is owed to French banks. Given that Italy’s government is currently locked […]
French FinMin: The Euro Zone Is Not Prepared To Face A New Crisis
French FinMin: The Euro Zone Is Not Prepared To Face A New Crisis Europe finds itself at a troubling crossroads: while on one hand the official narrative emanating from Brussels and Berlin (and, of course, the ECB) is that there is no risk of contagion from Italy’s budget crisis in the European Union, on the […]
“Peak QE”: This Is What Share Of The Market Central Banks Now Own
“Peak QE”: This Is What Share Of The Market Central Banks Now Own After a decade of unprecedented liquidity injections by central banks to preserve the western financial system, global QE has peaked. First, the aggregate balance sheet of major central banks started to shrink earlier in the year, a reversal that took investors many […]
ECB To End QE In December, Will Keep Rates Unchanged “As Long As Necessary”
ECB To End QE In December, Will Keep Rates Unchanged “As Long As Necessary” In a statement that was a virtual replica from September, the ECB announced it was keeping its three key rates unchanged (main refinancing operations: 0.00%, marginal lending facility: 0.25%; deposit facility: -0.40%), that it will end its LSAP QE program at […]
Italy Openly Defiant of Eurozone Stability Pact, Deliberately and Knowingly
Italy Openly Defiant of Eurozone Stability Pact, Deliberately and Knowingly Eurozone officials and the ECB are in a quandary over Italy’s deliberate defiance of budget rules. There is a fundamental irony in Italy’s open defiance of Eurozone stability rules. Both France and Germany did the same in 2003. Eurointelligence reports Italy Formulates First Fundamental Challenge […]
The European financial establishment has just declared war on Italy
The European financial establishment has just declared war on Italy This week in a CNBC interview Jeroen Dijsselbloem, the former Dutch minister of finance who served as the President of the Eurogroup, declared war on the Italian government. The European financial establishment is prepared to destroy the banking system and cause the Italian economy to […]
Juncker Warns ‘The EU Cannot Survive Without Italy’
Juncker Warns ‘The EU Cannot Survive Without Italy’ Ignoring warnings from the European Commission, the ECB and the European Commission (as well as practically every other supranational organization in Europe), the populist-led Italian government managed to submit their draft budget to the Commission before a midnight deadline – an outcome that was cheered by BTP […]
