Policy entrepreneur
So the greek central bank just announced the cost of the greek bank recapitalization : 27.5bn euros just for the 4 biggest banks, 40 bn overall. That could even top at 50bn, the Bank of Greece admits. This represents about 20% of Greece’s GDP. What a scam, isn’t it? Well, this is actually awesome: just by doing this, bankers are providing the
» Read moreBeing busy with my projects, I’m not posting very much these days. So here is a quick roundup of warning signs I’m looking in my radar.
» Read moreAs the crisis deepens, europeans banks are increasingly relying on central banks. What does it mean for the real economy?
» Read moreThe last balance sheet released by the Central bank of Cyprus confirms that the cypriot banking sector is under emergency liquidity assistance injection.
» Read moreThe European Central Bank is suspected of providing emergency liquidity assistance Spanish banks. However, there intriguing evidences that Cyprus banks are primarily benefiting from this discrete liquidity support.
» Read moreOn Thursday, the Irish government announced that it reached a deal about the promissory notes issue, that forces Ireland to pay 3,06 bn euros on march 31st. But this deal actually does not defer any payment neither relieves Ireland from its heavy debt burden. In France, the only newspaper that reported about this information was Les Echos. But their paper is such a misleading
» Read more