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We have had two announcements of central banks in Europe. The Bank of England with a new boss, Mr. Carney, made the first one. The second one was made by the ECB. The Bank of England mentioned that forward guidance and intermediate thresholds...
Last week’s meeting of EU finance ministers brought about new rules on bank collapses. The new rules are definitely inspired by Cyprus event. Under the new regime, banks’ creditors and shareholders would be the first to take losses....
At Bratislava´s meeting, the Governing Council of the ECB rewrote the monetary history of the Eurozone. The Council decided to lower basic interest rates to 0.5 % starting from May 8th 2013. It is nothing but a confirmation that nothing was...
Let’s begin with currency wars once again. Why? It is a real current issue. Look. Francois Hollande assured his partners within the euro zone at the beginning of the week that strong Euro is nothing for France and for others as well. He said...
Spanish economy is now producing nothing else but promises. Why to lock trash bins and how many policemen are needed against one disabled person? IMF against the EU, the EU against the core and China against the FED. All the eyes have been...
The Hot Wednesday wasn’t that hot after all. Greece denies need for the third bailout package. Spaniards don’t want any bailouts either. Rompuy has a plan. Americans don’t want to be left behind. The Judgment Day came, but it didn’t...
Unlimited purchases of ECB bonds? New dollars from FED? Maybe… Greece wants more time. Time is money. A bit of tension was brought into the holiday boredom by the rumor brought by the German magazine Der Spiegel saying that ECB is preparing...
Central banks still don’t provide monetary opium, how long will the current illusions last without it? New taxes and economic growth. Milton Friedman would be 100 years old. Crisis is 5 years old. Last week we challenged the governor of the...
Why the zombie banks aren’t stressed by stress testing, about Austrian Japanese, and about how difficult life the Spanish banks and especially Spanish bankers have. And that Trichet, even though he uses bad economic theories and non- functioning...
This week about how FED doesn’t want to leave alone the “Print” button and what you can go to jail in Argentina for. In Europe, we will have a look at the biggest default in the history, hope that German Luftwaffe won’t take off, we...
