Mario Draghi proved last week that the European Central Bank is the only Eurozone institution catering for the entire single money area and not only for part of it. The announcement last week of the details of the new asset-backed securities purchases and covered bond acquisitions programmes, which include Greece and Cyprus under conditions, proves […]ECB reaches the boundaries of its mandate to revive the entirety of Eurozone
October 6, 2014 by Leave a Comment
Mario Draghi proved last week that the European Central Bank is the only Eurozone institution catering for the entire single money area and not only for part of it. The announcement last week of the details of the new asset-backed securities purchases and covered bond acquisitions programmes, which include Greece and Cyprus under conditions, proves […]Did Draghi ask the Germans to accept a drastic change of austerity policies?
September 2, 2014 by 1 Comment
With the unemployment rate always at double digit levels (11.5%), inflation falling again nearer to naught (0.3% in August), the Economic Sentiment Indicator (ESI) dropping and the Business Climate Indicator idling flat, the Eurozone economy is steadily heading to a dormant state at best or to a new long recession at worst. Speaking of overall […]The ECB ‘accidentally’ followed IMF‘s policy advice for growth and job creation by printing more money
April 7, 2014 by Leave a Comment
Christine Lagarde, Managing Director of the International Monetary Fund, speaking in Washington DC last Wednesday 2 April stressed that the world economy, in the aftermath of the Great Recession of 2008-2012, faces a long period of slow and sub-par growth, “well below the solid, sustainable growth that is needed to create enough jobs and improve […]ECB tied in the anti-monetary German ideology
February 7, 2014 by Leave a Comment
The European Central Bank President Mario Draghi had a very difficult job yesterday in bridging the Germanic insistence for monetary austerity with the need of supportive measures for the Eurozone real economy to grow. After yesterday’s meeting, the Governing Council of the central bank left the basic interest rate unchanged at 0.25% but it was […]
