Six central bankers and a financial regulator get dragged to court.
There’s now a special math for NIRP refugees in Europe.
It’s the closest the Eurozone has come to falling apart.
“The €20 billion the government set aside is starting to look like small beer.”
NIRP is dying.
Investors have gotten so used to central bank “laxity” they “cannot believe it will end.”
They said it was contained, but now it hit the largest bank.
A “horrifying threat” (lower prices) has been vanquished.
Necessary to “maintain a dialogue” with external actors, says ECB.
A toxic trifecta for bondholders.