Posts
Nowhere, But Fast. Eurosoc 4, EuroSoc (en)
En Attaque! (will it work?). Alpha.Source-CV (en)
"... do take note of the fact that Japan did not participate in move which suggests (to me at least) that the prospect of having a ZIRPY nation is not what the high lords of the G7 want at the moment. In that respect, I suspect the BOJ was politely asked to stay clear. As for the ECB, it seems as that Trichet et al. just had to swallow a huge piece of humble-pie with today's move and one can only hope that the institution will maintain at least a small part of its credibility after this. It will need it.
How to tackle the Global Financial Crisis? Eberhard Rhein, Blogactiv.eu (en)
" ... One conclusion seems evident. The EU will not escape a unified centrally guided financial supervision that may be structured like the EU monetary authorities, with a central institute directing and coordinating 27 national agencies. The Commission proposal for group supervision may be at best a first step on the road towards “federal structures”.One should expect staunch opposition from member states against a more federal organisation of banking and insurance supervision. It may well take 10-15 years to reach the final stage, provided at the end it will be more than loose coordination among groups of national supervisors ..."
Iceland, unlikely villain. Certain Ideas of Europe (en)
"... When asked about the financial crisis, a surprising one in three people, unprompted, mentioned that frozen little island up north. And Iceland is not even a member of the European Union! They sounded very angry about a public rescue package for fat-cats in the City of London, but when it came to Iceland, they shrugged and sighed and looked rather incredulous that such a tiny place could cause so much trouble ..."
Du désordre européen au gouvernement économique? Jean Quatremer, Les Coulisses de Bruxelles (fr)
"... Hier, le président de la Commission, José Manuel Durao Barroso, a reconnu l'évidence devant le Parlement européen : « oui, les interventions publiques ont essentiellement eu lieu au niveau national parce c’est là que se trouvent l’argent et les compétences. Cela reflète que nous sommes une union d’Etats et non un Etat unitaire » . Néanmoins, les gouvernements commencent à prendre conscience que ce cavalier seul les mènent droit dans le mur ...
... Selon nos informations, Gordon Brown proposerait que les Etats européens et du G7 garantissent les prêts interbancaires ...
... De même, l’idée d’un « fonds de secours » européen, torpillé mercredi dernier par l’Allemagne, soucieuse de ne pas payer pour les autres, a fait son retour ..."
Bring on the crises! EUvangelist, Blogectiv.eu (en)
" ... the chances of a European solution have suddenly increased. If that happens,this will be the umpteenth example in which it took a crisis to convince the EU to do something good that it would have been unwilling to do in the absence of a crisis. Maybe what the EU needs is a strategy to provoke a series of crises targeted at prodding its reluctant members to do the right thing…"
Something smells. Richard, EUReferendum (en)
" ... The big question is, whether the UK acted unilaterally or whether the deal was stitched up at Ecofin, with probably the germ of the idea hatched at the "pre-meeting" – the so-called "summit" in Paris on Saturday.My instinct is that Ecofin in Luxembourg was where the final deal was done. Most likely, there would only have been a small group in the know – the "Paris four" ... France, Germany, Italy and UK. Spain might have been brought into the deal, and perhaps a few more (possibly Ireland, Holland, Belgium and Luxembourg). And, of course, Barroso would have been in the loop. ..."
A crisis of "enormous proportions". Richard, EUReferendum (en)
" Poor old Ambrose this morning was running out of hyperbole. Once you've proclaimed that the sky is falling in, there is not much left in the vocabulary to describe a situation that is getting even worse ..."
"... do take note of the fact that Japan did not participate in move which suggests (to me at least) that the prospect of having a ZIRPY nation is not what the high lords of the G7 want at the moment. In that respect, I suspect the BOJ was politely asked to stay clear. As for the ECB, it seems as that Trichet et al. just had to swallow a huge piece of humble-pie with today's move and one can only hope that the institution will maintain at least a small part of its credibility after this. It will need it.
How to tackle the Global Financial Crisis? Eberhard Rhein, Blogactiv.eu (en)
" ... One conclusion seems evident. The EU will not escape a unified centrally guided financial supervision that may be structured like the EU monetary authorities, with a central institute directing and coordinating 27 national agencies. The Commission proposal for group supervision may be at best a first step on the road towards “federal structures”.One should expect staunch opposition from member states against a more federal organisation of banking and insurance supervision. It may well take 10-15 years to reach the final stage, provided at the end it will be more than loose coordination among groups of national supervisors ..."
Iceland, unlikely villain. Certain Ideas of Europe (en)
"... When asked about the financial crisis, a surprising one in three people, unprompted, mentioned that frozen little island up north. And Iceland is not even a member of the European Union! They sounded very angry about a public rescue package for fat-cats in the City of London, but when it came to Iceland, they shrugged and sighed and looked rather incredulous that such a tiny place could cause so much trouble ..."
Du désordre européen au gouvernement économique? Jean Quatremer, Les Coulisses de Bruxelles (fr)
"... Hier, le président de la Commission, José Manuel Durao Barroso, a reconnu l'évidence devant le Parlement européen : « oui, les interventions publiques ont essentiellement eu lieu au niveau national parce c’est là que se trouvent l’argent et les compétences. Cela reflète que nous sommes une union d’Etats et non un Etat unitaire » . Néanmoins, les gouvernements commencent à prendre conscience que ce cavalier seul les mènent droit dans le mur ...
... Selon nos informations, Gordon Brown proposerait que les Etats européens et du G7 garantissent les prêts interbancaires ...
... De même, l’idée d’un « fonds de secours » européen, torpillé mercredi dernier par l’Allemagne, soucieuse de ne pas payer pour les autres, a fait son retour ..."
Bring on the crises! EUvangelist, Blogectiv.eu (en)
" ... the chances of a European solution have suddenly increased. If that happens,this will be the umpteenth example in which it took a crisis to convince the EU to do something good that it would have been unwilling to do in the absence of a crisis. Maybe what the EU needs is a strategy to provoke a series of crises targeted at prodding its reluctant members to do the right thing…"
Something smells. Richard, EUReferendum (en)
" ... The big question is, whether the UK acted unilaterally or whether the deal was stitched up at Ecofin, with probably the germ of the idea hatched at the "pre-meeting" – the so-called "summit" in Paris on Saturday.My instinct is that Ecofin in Luxembourg was where the final deal was done. Most likely, there would only have been a small group in the know – the "Paris four" ... France, Germany, Italy and UK. Spain might have been brought into the deal, and perhaps a few more (possibly Ireland, Holland, Belgium and Luxembourg). And, of course, Barroso would have been in the loop. ..."
A crisis of "enormous proportions". Richard, EUReferendum (en)
" Poor old Ambrose this morning was running out of hyperbole. Once you've proclaimed that the sky is falling in, there is not much left in the vocabulary to describe a situation that is getting even worse ..."
Government debt to exceed 60 per cent of GDP. Ironies Too (en)
"... In the analysis of April 08, I voiced the concern that the governments debt ceiling of 40% would soon be busted through onward sand upwards to 60% of GDP by late 2009. Recent events put Britain directly on this path to exceed 60% of GDP with all of the consequences in terms of currency devaluation ..."
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