Tag Archive: ECB
Full text Spanish banks bailout: Memorandum of Understanding
Here the full text of the European’ Commission’s Memorandum of Understanding with Spain regarding the bailout of the Spanish banking sector released earlier today.
Memorandum of Understanding on Financial-Sector Policy Conditionally
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Wolfgang Münchau, FT: Merkel was the winner of the Euro summit
Wolfgang Münchau endorsed many of our arguments Wolfgang Münchau, Financial Times, has endorsed many of our arguments of our Friday's opinion about the Euro summit where we stated that there was nothing really new. Münchau even claims that "The real victor in Brussels was Merkel."
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At the Euro summit there was nothing really new. What was the party about ?
At the euro summit today there was essentially nothing what was really surprising. We wonder what markets are so excited about.
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The Northern Euro introduction: A retrospective from the year 2030
A retrospective from the year 2030 on two decades of failed european integration policy and 10 years of successful disintegration policy The following essay shows that currency regimes come and go over the time. Nothing is stable with the time, especially the use of a currency. What has never happened in history is the use …
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Italy: About the Hypocrisy of Politicians and the Blindness of the English-Speaking Financial Papers
Just a little wrap-up of two tweets read in 5 minutes, to which I finally added a bit more out of my recent Tweets. One Tweet: The British finance minister Osborne has emphasized that the euro zone needs to protect its peripheral economies. “The whole of Europe needs to become more competitive and productive. That …
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Why the Euro Crisis may last another 15 years
Abstract In the following article we will explain which types of crisis occur in the euro area and will argue that this crisis will last at least another fifteen years. (1) Competitiveness crisis: Before the euro introduction peripheral countries regularly saw their currency depreciate against the German Mark and helped them to increase their competitiveness. …
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Written in February 2012: Will the EUR/CHF never rise over 1.22 or 1.23 again?
Our analysis from February 2012 shows astonishing accurateness: It predicted that the euro would not rise against CHF and that the commodity currencies were overvalued and subject to correction.
Basic foreign exchange theory, the SNB price stability mandate and strong fundamentals for Switzerland and bad ones for the peripheral countries of the euro zone speak for the thesis that the EUR/CHF exchange rate might never go over the level of around...
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The new European Save-Havens: Trade SEK/CHF and NOK/CHF
After the announcement of the floor in the EUR/CHF pair, many predicted the Swedish and the Norwegian Krone to take the place of the Swiss Franc as European save-haven against the Euro turmoil (http://on.ft.com/pKSJ1V). Both countries possess a low level of debt, positive trade balance and very competitive economies.
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Jürgen Stark’s resignation and the ECB 2005 warning about labor cost divergence in the Euro-zone
The Wirtschaftswoche reports about the real reasons of ECB Chief economist Jürgen Stark’s resignation. The reasons are rather political, namely a protest against European governments:
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