FRANKFURT—European Central Bank officials signaled they are prepared to dramatically ramp up the ECB’s crisis response by renewing the central bank’s dormant government bond-purchase program.
“Within our mandate, the ECB is willing to do whatever it takes to preserve the euro and, believe me, it will be enough,” ECB President Mario Draghi said in [...]
“The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the Earth. Take it away from them, but leave them the power to create [...]
This article comes from the City Journal, a publication of the Manhattan Institute. They write about many interesting things mostly about urbanism. They come at things from a mostly conservative, free market viewpoint (Bill Kristol on on their board). This article gives a perceptive look at French politics and what Hollande’s election means to Europe. [...]
From DeutscheBank Research
April 23, 2012
Funding conditions for European banks have improved considerably since end-2011. In Q1, EU banks were able to issue a total of EUR 154 bn in senior and covered bonds – compared with only EUR 85 bn in the whole of H2 2011. Still, issuance was down 35% yoy; the [...]
Dear Professor Keen:
I am a monetary scientist and a fan of some of your work. I admire the courage it took for you to call the Australian housing crisis as early as you did, and to make a bet that you would be right. But I came across this video, wherein you say:
Markets and journalists are discussing (once again) the one-size-fits-all problem of ECB policy, with the Bundesbank questioning the generous provision of liquidity and its reignition of the exit debate pouring oil into the fire.
Yes, the economic paths for the peripherals are severely uphill, but reforms being implemented should allow for [...]
With the Italian latecomers finally reporting last week, all the top EU banks have now reported FY 2011 results, which overall were nothing to write home about. For the first time in at least a decade, all major revenue components (and thus also total revenues) declined YoY. While the decrease is still modest (NII -0.5%, fees [...]