Euro

Head of EU’s Newfangled Bank Regulator: Markets Are Dumb, Pumps Stocks Of Teetering Banks To Keep them From Toppling

by Wolf Richter •  • Comments Off on Head of EU’s Newfangled Bank Regulator: Markets Are Dumb, Pumps Stocks Of Teetering Banks To Keep them From Toppling

It’s not often that a bank regulator proclaims stocks of teetering banks are undervalued because markets are too dumb to value them correctly. That’s what Danièle Nouy, chair of the ECB’s Single Supervisory Mechanism just proclaimed. She has a motive.

German High Court Blows Up Euro, Says ‘Oh Wait,’ Abdicates

by Wolf Richter •  • Comments Off on German High Court Blows Up Euro, Says ‘Oh Wait,’ Abdicates

The ECB’s money-printing and bond-buying promise, lovingly dubbed Outright Monetary Transactions, became the bailing wire and duct tape that has kept the Eurozone together to this day. Turns out, it’s illegal under the EU treaties and unconstitutional in Germany.

This Ends In A “Planned Economy” – Bundesbank President

by Wolf Richter •  • Comments Off on This Ends In A “Planned Economy” – Bundesbank President

When Jens Weidmann, President of the emasculated Bundesbank, speaks, central bankers and money printers worldwide stuff wax into their ears. “Caution,” he started out, “the euro crisis is far from over.” Then he committed central-bank heresy.

French Megabank: “Germany Should Leave The Eurozone”

by Wolf Richter •  • Comments Off on French Megabank: “Germany Should Leave The Eurozone”

Suddenly, there’s a solution to France’s economic crisis. Unlike the cacophonous clamor from the far right to drop the euro, this one is attractively presented with graphs and in terms that even a French politician might understand. And it’s not contaminated by partisanship.

France Clamors for Currency War, Bundesbank Warns Of Housing Bubble

by Wolf Richter •  • Comments Off on France Clamors for Currency War, Bundesbank Warns Of Housing Bubble

The euro, its dexterous management, the “whatever-it-takes” guarantees by ECB President Draghi, the trillions being shifted around to prop up banks and governments – all these efforts to keep the Eurozone duct-taped together have hit countries differently. Including France and Germany. They’re shooting at each other now, and hitting the ECB.