Posts
Crise financière : la Commission persiste à refuser la régulation. Jean Quatremer, Les Coulisses de Bruxelles (en)What they actually agreed. Richard, The EUReferendum (en)
The Great Depression: A reminder amid the ever-increasing hyperbole. NoseMonkey, EUtopia (en)
The crisis goes sovereign. PO Neil, Fisful of Euros (en)
" ... With European countries in a rush to take banking sector liabilities onto the public balance sheet, they might want to take a look at where that route goes, in extremis: Iceland, as a banking crisis becomes a full blown macroeconomic crisis ...
... We have: Russia apparently emerging as the lender of last resort (which must indicate other requests that were turned down), and the adoption of a what looks like a crazily overvalued peg for the króna ...
Putin's judo video suggests he's a tad out of touch. Certain Ideas of Europe (en)
" ... THIS ONE really defies belief. Weary old Gordon Brown, who had bags under his eyes well before the current crisis began, has just stayed up all night with his top advisors crafting a colossal plan to partially nationalise British banks. Angela Merkel, Nicolas Sarkozy, Silvio Berlusconi and their counterparts across Europe are also looking harried as they cope with urgent fire-fighting in their own markets and economies. Dmitry Medvedev has hands full in Moscow too ...
... “Without sport,” Mr. Putin said at a news conference Tuesday to coincide with the video's release, “it is impossible to speak about a healthy lifestyle or the health of a nation.” ..."
Crise financière: l'Islande veut profiter du bouclier de l'euro. Jean Quatremer, Les Coulisses de Bruxelles (en)
" ... En pleine tourmente financière, ce petit pays qui a toujours refusé d'adhérer à l'Union est en train de tourner casaque. La Banque centrale islandaise va ainsi fixer un taux de change fixe de la couronne islandaise par rapport à l'euro pour enrayer la chute de sa monnaie, soit 131 couronnes pour un Euro ...
.... L'Islande cherche donc a profiter du bouclier de l'euro, l'Union étant préservée des turbulences monétaires depuis le début de la crise. D'ailleurs, l'opinion publique a parfaitement compris ce qu'elle perdait puisqu'elle est devenu majoritairement favorable à l'adhésion. La Commission considère qu'il est désormais tout à fait possible que la petite île nordique rejoigne le club européen, ce qui semblait presque totalement exclu avant le début de la crise financière..."
Joining the dots. Richard, The EUReferendum (en)
" ... At the Ecofin meeting yesterday, two things happened. Firstly, the ministers effectively gave the green light to member states to break the EU's state aid rules.Secondly, they turned their faces away from initiating structural reforms to the regulatory system, which might have freed the logjam in inter-bank lending – preferring instead to make one minor and largely cosmetic change ..."
The truth will out … but not here. Richard, The EUReferendum (en)
" ... Martin Sullivan, former chief executive of AIG, the collapsed insurance giant that had to be rescued by the US government, is saying that, "above all … mark-to-market accounting played a central role in the company's rapid deterioration" ...
... What is also so very instructive is that, while the Americans have gone about suspending mark to market after a massive public and media discussion, and via an instruction from Congress after a heated debate, we see the same action being taken in the EU by a committee in Luxembourg behind closed doors, with no public debate and without the issue even being put on the published agenda ... "
Nationalistation is the Solution. Jerome A Paris, European Tribune (en)
" ... Grankly, I see no other solution than the full nationalisation of all establishments that show any sign of weakness, and the massive netting out of positions to clean up things as much as possible.
The thing is that the longer this takes to happen, and the bigger the mess to clean up. And yet it's not happening - mostly for ideological reasons (nationalisation = socialism = evil; somehow the same logic does not seem to apply to the generous but pointless hosing of public money on the bankers that created the mess in the first place...) ..."
Blogging The Crisis. Eurosoc 2, EuroSoc (en)
" The Spanish government is trying to pump liquidity into the financial system by encouraging cash hoarders to start circulating their savings. According the the Guardian, over €54 billion in 500-Euro notes is believed to have been stashed away under beds or in safes. Much of the cash is a product of the black market, thought to represent a fifth of Spain's GDP ...
The crisis goes sovereign. PO Neil, Fisful of Euros (en)
" ... With European countries in a rush to take banking sector liabilities onto the public balance sheet, they might want to take a look at where that route goes, in extremis: Iceland, as a banking crisis becomes a full blown macroeconomic crisis ...
... We have: Russia apparently emerging as the lender of last resort (which must indicate other requests that were turned down), and the adoption of a what looks like a crazily overvalued peg for the króna ...
Putin's judo video suggests he's a tad out of touch. Certain Ideas of Europe (en)
" ... THIS ONE really defies belief. Weary old Gordon Brown, who had bags under his eyes well before the current crisis began, has just stayed up all night with his top advisors crafting a colossal plan to partially nationalise British banks. Angela Merkel, Nicolas Sarkozy, Silvio Berlusconi and their counterparts across Europe are also looking harried as they cope with urgent fire-fighting in their own markets and economies. Dmitry Medvedev has hands full in Moscow too ...
... “Without sport,” Mr. Putin said at a news conference Tuesday to coincide with the video's release, “it is impossible to speak about a healthy lifestyle or the health of a nation.” ..."
Crise financière: l'Islande veut profiter du bouclier de l'euro. Jean Quatremer, Les Coulisses de Bruxelles (en)
" ... En pleine tourmente financière, ce petit pays qui a toujours refusé d'adhérer à l'Union est en train de tourner casaque. La Banque centrale islandaise va ainsi fixer un taux de change fixe de la couronne islandaise par rapport à l'euro pour enrayer la chute de sa monnaie, soit 131 couronnes pour un Euro ...
.... L'Islande cherche donc a profiter du bouclier de l'euro, l'Union étant préservée des turbulences monétaires depuis le début de la crise. D'ailleurs, l'opinion publique a parfaitement compris ce qu'elle perdait puisqu'elle est devenu majoritairement favorable à l'adhésion. La Commission considère qu'il est désormais tout à fait possible que la petite île nordique rejoigne le club européen, ce qui semblait presque totalement exclu avant le début de la crise financière..."
Joining the dots. Richard, The EUReferendum (en)
" ... At the Ecofin meeting yesterday, two things happened. Firstly, the ministers effectively gave the green light to member states to break the EU's state aid rules.Secondly, they turned their faces away from initiating structural reforms to the regulatory system, which might have freed the logjam in inter-bank lending – preferring instead to make one minor and largely cosmetic change ..."
The truth will out … but not here. Richard, The EUReferendum (en)
" ... Martin Sullivan, former chief executive of AIG, the collapsed insurance giant that had to be rescued by the US government, is saying that, "above all … mark-to-market accounting played a central role in the company's rapid deterioration" ...
... What is also so very instructive is that, while the Americans have gone about suspending mark to market after a massive public and media discussion, and via an instruction from Congress after a heated debate, we see the same action being taken in the EU by a committee in Luxembourg behind closed doors, with no public debate and without the issue even being put on the published agenda ... "
Nationalistation is the Solution. Jerome A Paris, European Tribune (en)
" ... Grankly, I see no other solution than the full nationalisation of all establishments that show any sign of weakness, and the massive netting out of positions to clean up things as much as possible.
The thing is that the longer this takes to happen, and the bigger the mess to clean up. And yet it's not happening - mostly for ideological reasons (nationalisation = socialism = evil; somehow the same logic does not seem to apply to the generous but pointless hosing of public money on the bankers that created the mess in the first place...) ..."
Blogging The Crisis. Eurosoc 2, EuroSoc (en)
" The Spanish government is trying to pump liquidity into the financial system by encouraging cash hoarders to start circulating their savings. According the the Guardian, over €54 billion in 500-Euro notes is believed to have been stashed away under beds or in safes. Much of the cash is a product of the black market, thought to represent a fifth of Spain's GDP ...
... The FTSE-100 is going to look very different after this recession. And not just its figures: Boris Johnston warns the government that some of Britain's top companies are fleeing to Ireland to avoid the long arm of the British taxman. Household names as British as fish and chips are heading to less punitive regimes in Ireland, Luxembourg, Switzerland and Holland.
Where will that leave Britain, with threadbare manufacturing, the smouldering remains of a finance sector and a public sector (with pension guarantees) swelling out of all proportion to its usefulness or the finances available to sustain it? ..."
Where will that leave Britain, with threadbare manufacturing, the smouldering remains of a finance sector and a public sector (with pension guarantees) swelling out of all proportion to its usefulness or the finances available to sustain it? ..."
The Gathering Tempest. Irony Too (en)
" ... The full implications of the mass nationalisation of British Banks cannot become clear until further details become known. The basis seems clear, however, a group of grossly incompetent and untrustworthy lying politicians are about to borrow more vast sums to save the skins of a number of Boards of devious and unscrupulous Banks who are in debt due to their own greed and incompetence ..."
No comments:
Post a Comment