Tags » European Central Bank

The Negative Macroeconomic Impact of Overpaid Bureaucrats

Last year, I shared some remarkable research from the Organization for Economic Cooperation and Development about the negative relationship between government spending and economic performance. 1,195 more words

Big Government

Germany: Inflation hit its highest level for more than three years in December


¬© AFP/File | German food prices increased 2.5 percent in December, more than double November’s figure

FRANKFURT AM MAIN (AFP)¬†–¬†Inflation in Germany, Europe’s largest economy, hit its highest level for more than three years in December, beating analyst expectations, official data showed on Tuesday. 156 more words

Monte Paschi survived the Inquisition and two world wars but was no match for 21st-century bankers and politicians

The silence was deafening.

On the afternoon of Dec. 9, Marco Morelli, chief executive officer of Banca Monte dei Paschi di Siena SpA, was preparing for a board meeting in the lender’s Belle Epoque-era offices in Milan when the news hit: the European Central Bank had rejected his bid for more time to raise the 5 billion euros (US$5.2 billion) needed to stay afloat. 1,538 more words


Italy's Monte Paschi needs US$9.2 billion in capital, twice more than originally sought: ECB

The European Central Bank said Banca Monte dei Paschi di Siena SpA needs about 8.8 billion euros (US$9.2 billion) to bolster its balance sheet, almost twice the amount the Italian lender had sought to raise in a failed capital increase. 418 more words


??Italian Bank Rescue??

Dear Friends,

Smoke and mirrors again. In the end, the Italian banks will be saved, if at all, by wiping out creditors and equity holders. Many of the creditors are simple folk, sold credit yield with no safety. 937 more words

Asher Edelman

After doing nothing for almost a decade, the US has ended up with the most normal interest rates of the G7

In the wake of the global financial crisis, the US Federal Reserve was faster than most of its counterparts to slash interest rates to historically low levels. 160 more words