ECB

Economy

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Bouncer Ottmar Issing. ECB once again kept Greece in the game. Will the next five-year plan be merrier? Briefly today. Pandas are on holidays and without Angela Merkel who is having a rest and German Minister of Finance, Wolfgang Schauble, not much is going on in Europe. Mario Monti, Italian Prime Minister, informed Germans that he needs their help, not financial, but moral one. Spanish Prime Minister Mariano Rajoy considers asking Europe for help. Not…

Economy

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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 ECB Mario Draghi, who promised the moon to the markets, to stop talking and to show the money instead (Show Me the Money!). This week it turned out that there is no money to cover…

Economy

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When is going to happen the next Slovak cabinet billion-worth meeting? Is Draghi tough because Angela is on hliday? Will be two Greek bankrupts within six months a new European or Olympic record? What a week! When it come to euro crisis, there is no silly time for sure. For example, how many Slovak cabinet meetings, during which our representatives approved 1 billion EUR for a Spanish black hole, have there been before? For example, the whole fiscal…

Economy

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ECB trade unions protest, Barclays collects all the prizes both at home and abroad, Sarkozy packed toothbrush and pajamas – just in case, Finns and Dutch are disobedient, Klaus witty about the Europe as always. And you know who rules the EU? Communists. Ongoing crisis has profound social implications. So significant that they were noticed even by the trade unions in ECB. In a survey carried out among employees it turned out that the years of hard…

Economy

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Who wants to be Minister of Finance of Greece should report to the director. Everyone in ECB was following football,  players used as a collateral were playing. Will ESM turn into  European zombie banks hedge fund? Will ESM run out of resources even before it is set up? Troika still hasn’t gone to Greece to assess the situation there. Local leaders are affected by health problems – both Prime Minister and Minister of Finance were…

Economy

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We’ve been walled up. Greece has government but money is still missing. Which German team will win the European Championship? FED playing games, another package is postponed. How many Olympic medals will the EU-funded United Nations of Europe get? Let’s start from the end, namely from what happened last week. Eurozone is on fire and Europe instead of putting it down, sets up a bailout firewall. Slovak MPs just placed us on the wrong side…

Economy

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Greek run continues – sPain or sPanic? Fiscal rules will be strict. Right after exemptions for Spain, Italy…Will Spiderman save the banks? Can somebody who doesn’t pay taxes criticize others for not paying taxes? Who works the hardest in the EU? Will Greeks unveil the European bluff? Jogging on banks in peripheries continues. EUR 31 billion (1.9%) were withdrawn from Spain in April. Portuguese central bank also warns against possible withdrawal of the deposits from…

Economy, Think Tank News

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In response to the on-going financial crisis in the euro zone, LFMI, a leading economic policy think-tank in Lithuania, has worked out and submitted to responsible institutions a plan which would help countries exiting the euro zone to build stable and sound money. LFMI‘s proposal can be also used by the euro zone when attempting to strengthen the euro and to restore people‘s confidence in the single currency. The persisting crisis of euro zone state…