European Court rules that ECB’s OMT program of 2012 is OK; not a word from Germany about returning the Greek 2010 courtesy

Last Tuesday 16 June the European Court of Justice issued a historic decision ruling that Mario Draghi was legally correct when on 26 July 2012 speaking at the Global Investment Conference in London said the famous phrase, “…the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will […]

Why Eurozone urgently needs the ECB to print and distribute at least €500 billion

Next Thursday 22 January the European Central Bank is expected to announce its new extraordinary monetary program (quantitative easing), under which the central bank or the 19 member state national central banks will buy up to 20%-25% of Eurozone’s government debt. According to Eurostat, the government consolidated gross debt is around €9 trillion. Theoretically then […]

ECB guarantees the liquidity of the Atlantic financial volume

There is no doubt that the European Central Bank is determined not only to continue supporting Eurozone’s real economy with liquidity at almost zero interest rate cost for as long as it needs to achieve tangible growth, but by the same token it appears ready to succeed the American Fed in keeping the western financial […]

Berlin wants to break South’s politico-economic standing

Amidst the Cyprus banking crisis there was no room in the first page of mainstream media, to analyse and comment on the decision of the Spanish government to impose a haircut (tax), albeit small, on the country’s bank deposits to the tune of €3 to every thousand. In the face of it, the Madrid exchequer […]