Banks, insurance giants are free again to abuse the real economy

Not many years after the financial meltdown of 2008-2010, the main culpable parties for that global catastrophe, the big banks and the gigantic insurance companies are now commandingly asking the world to forget that. They demand to be again left completely unchecked, free to repeat what they did then; inflate all and every market to […]

Fed, ECB take positions to face the next global financial crisis; the Brits uncovered

The appointment of Jerome Powell as the next head of the US central bank, the famous Fed, is a reassurance to the financial world that the giant lenders will continue being favored by ample and very cheap money. Last Thursday, Donald Trump, the American President didn’t dare to change the cautious approach to monetary policy. […]

Extra mild ECB tapering of QE and zero interest rates keep euro low

Last Thursday, Mario Draghi, the President of the European Central Bank performed again his superb balancing act, between the needs of the South and the demands of the North. He led the Governing Council of ECB, Eurozone’s most powerful body, to map the exit road from the extraordinary monetary measures (Quantitative Easing) state as frictionlessly […]

German political spillovers: ECB’s Draghi resists first attacks by AfD

Last Monday, Mario Draghi, President of the European Central Bank, speaking at the Economic Committee of the European Parliament had the opportunity to test the grounds and familiarize himself with the nature of political climate he may come across after the German elections. He had a heated exchange with the head of the AfD group […]

Draghi’s 2018 compromise: enough money printing to revive inflation and check euro ascent

Last Thursday Mario Draghi, the President of the European Central Bank, reassured the Eurozone banking conglomerates they will continue being blessed with zero cost money, well into the foreseeable future. He stated, “one thing is clear; the bottom line is that interest rates will stay, as it’s written here, at the present levels (zero for […]

Is euro to repeat its past highs with the dollar?

The strengthening of the euro vis-à-vis the US dollar is taking alarming proportions, puzzling markets and the European Central Bank. The Eurozone single currency has gained 14% from the beginning of the year, with the tempo of appreciation accelerating. It gained around 10% during the summer. For around three years, the ECB has been following […]

Yellen and Draghi tell Trump and markets not to expedite the next crisis

The disappointment of financial markets with the lack of hints about monetary policy from the Jackson Hole gathering of central bankers is understandable. Both Janet Yellen, US Federal Reserve System Chair and Mario Draghi, the European Central Bank President while keeping their policy guidelines unchanged, choose to forcibly attack the demands of bankers – supported […]

The ECB accuses the politicians of inaction, continues injecting billions to banks

Last Saturday 8 July the Belgian newspaper De Standaard published an interview with Peter Praet, Member of the Executive Board and chief economist of the European Central Bank. Praet said it plainly “We do say that we still need a long period of accommodative policy before we are ready”. What he means by ‘being ready’ […]

ECB intervenes to clean May’s and Schäuble’s mess

Last Thursday 8 June, on the day the Britons were punishing Theresa May for her mistakes and arrogance, the European Central Bank under Mario Draghi was preparing for a less favorable politico-economic environment and a much longer disinflationary period. Indirectly, Mario Draghi blamed the dying out inflation on the avowed neoliberals, of the kind of […]

Germany caught with selfish double standards in euro area policy

Over the past three years the European Central Bank, guided by its President Mario Draghi, has been folowing a super relaxed monetary policy. It has been aiming at reviving uncertain economic growth and dying inflation, by handing out to banks, and through them to the economy, hundreds of billions of euro and at the same […]

The ECB again takes care of the bankers not the people

Last week the European Central Bank surprised everybody by letting it be known that interest rates will “remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases”. To be noted, presently, the main refinancing operations interest rate is zero. Of course, the markets […]

Trump to subject the Fed, challenge the ECB and make Wall St. bankers even richer

It’s obvious by now that the European Central Bank and its President Mario Draghi are following a diametrically opposite monetary policy than the American central bank, the famous FeD. Both Draghi and ECB Vice President Vítor Constâncio have loudly reassured everybody that the Eurozone’s central bank will continue injecting €60 to €80 billion a month […]

ECB steadily continues monetary easing policy as EU economy gains momentum

European Central Bank – Press Conference Vítor Constâncio, Vice-President of the ECB, Mario Draghi President of ECB and Christine Graeff, Director General Communications (from left to right). Location: Frankfurt . Date: 09/03/2017 © ECB, 2017 / Source: ECB – Audiovisual Service It was last Thursday when the president of the European Central Bank gave a […]

The four top Americans who flew to Europe perplexed things about Trump’s intentions

Four top ranking Washington bigwigs – who flew to Munich, Brussels and Bonn to mend fences with Europe, after Donald Trump termed NATO ‘obsolete’ and rejoiced the unraveling of the EU, left the Europeans bewildered with the dangerously diverging stories they had to narrate. Only the extreme right wing, Polish Defense Minister Anton Macierewicz seemed […]

Draghi repels Trump’s threats, rejects Schauble’s dictums

Mario Draghi, the President of the European Central Bank, is under mounting pressures both at home and abroad. From the other side of the Atlantic US President Donald Trump is overtly targeting a much cheaper dollar compared to euro, while at his inaugural speech he clearly praised trade protectionism by saying, “Protection will lead to […]

ECB: The bastion of effective and equitable Europeanism keeps up quantitative easing

Last Thursday, 12 December, Mario Draghi, President of the European Central Bank, was forced to compromise with the Germans during the Governing Council’s regular meeting. He accepted to reduce the monthly injections of cash into the economy (through asset purchases of mainly government bonds) from €80 billion to €60bn, along the lines of the nonstandard […]

After the Italian ‘no’ and the Brexit, Germans must decide which Europe they want

There is no doubt that Europe is in disarray. The long standing malaise of high unemployment and economic stagnation has already mutated into critical political problems. The mutations of the European political ecosystem take various, unseen before forms. In the northern EU countries they invariably appear as extreme right or even semi-fascist political parties, inflated […]

Draghi left alone with no hope of boosting EU growth as Merkel just focuses on next elections

It was last Monday when the president of the European Central Bank (ECB) discussed with members of the economic and monetary affairs committee at the European Parliament (EP) about the EU economy in the aftermath of the UK referendum, revealing that the euro area economy shows notable adjustment properties to the global economic and political uncertainty. […]

Mario Draghi didn’t do it but Kim Jong-un did

Last Thursday, Mario Draghi, the President of the European Central Bank, was unable to move the capital and money markets with his customary monetary policy Press conference in Frankfurt am Main. On the contrary, North Korea’s leader Kim Jong-un, a global castoff, did it the next day just by pressing a button. However, it took […]

Will the outcome of the UK referendum “calm” the financial markets?

Just one day left for both the Remain and Leave campaigners to persuade the undecided Britons to vote in their favor promoting what is best for their country. The world is about to finally find out what will be the outcome of the UK referendum with the reports and polls already showing reverse results compared to last […]

Brexit update: Leave campaign leads race but undecided voters will determine the outcome of the EU referendum

The time has come and the British citizens will have to take the faith of their country in their own hands. In just over a week they will decide whether they want to stay or leave the European Union with the rest of the world to wait the outcome with great anxiety. There have been […]

For how long and at what cost can the ECB continue printing trillions to keep euro area going?

Last Tuesday Eurostat, the EU statistical service issued a Press release revealing that the GDP of Eurozone (EU19) and EU28 rose in the first quarter of this year by 1.7% and 1.8% respectively, compared with the same three-month period of 2015. On the yearly developments platform, there is more good news. The same source revealed […]

Unemployment and exclusion brings EU cities to boiling point

Last Tuesday Eurostat, the EU statistical service release its latest estimates about the April unemployment rate and May inflation in Eurozone, which unfortunately didn’t diverge markedly from the gloomy predictions of analysts. This week however, the same source published a very interesting survey about the labor market situation in EU. It’s a special report about […]

Eurozone’s central bank leadership prepares for shoddier prospects

It has become commonplace to state that the European economy still doesn’t fare well after six years of recession or practical stagnation. For good reasons however in the past few days the horizon looked particularly darkened. Negative statistical evidence and meandering statements by key people are indicative of that. Inflation or rather disinflation statistics, persistently […]

Why the ECB had to clarify it caters for the entire Eurozone not just Germany?

Last Thursday morning this newspaper concluded that the “only EU institution with true European motives and vision remains the European Central Bank of Mario Draghi”. Just some hours later in that Thursday afternoon the European Sting was confirmed one hundred percent by Mario Draghi, the President of ECB, who said that “We have a mandate […]

No hard drivers in sight to remodel the stagnating affairs of the EU

It’s a tautological statement to say that the euro area is an economy which barely moves ahead, towards producing more jobs and incomes for the tens of millions of the unemployed and materially deprived. However, it seems that it’s worse than that. Mario Draghi, the President of the European Central Bank, said it plainly in […]

ECB’s new money bonanza handed out to help the real economy or create new bubbles?

Last Thursday the European Central Bank announced it will pump extra piles of freshly printed money into Eurozone’s banking system. The President of ECB, Mario Draghi said that he will be delivering €80 billion a month for the public bonds owned by banks for as long as it is needed. On top of this, the […]

Pumping more money into banks but leaving them unregulated doesn’t help

On Thursday 25 February, this newspaper concluded that “the other major central banks in Europe, China, Japan and elsewhere appear ready to fill the gap that the Fed plans to leave in the ‘money for nothin’ game”. This week’s developments completely justified this prediction. The immediate result is a new appreciation of the dollar with […]

Does Draghi have another ace up his sleeve given his Quantitative Easing failure?

Last Monday Eurostat, the statistical service of the European Union, released a flash estimate for euro area annual inflation revealing a -0,2% inflation rate for February. The latter has worried the European Central Bank’s (ECB) officials and especially its president Mario Draghi. ECB’s Governing Council meeting which is taking place next week will have to reconsider […]

2016 crisis update: the year of the Red Fire Monkey burns the world’s markets down

The Chinese New Year began two days ago and has brought already significant turbulences and volatilities to the global financial markets and economies. Luckily for the world’s second largest economy, Chinese stock markets are closed due to New Year’s festivities and haven’t experienced, at least yet, the losses of the European, U.S. and Japanese markets. This […]