The “second wave,” if prolonged, could cause bad loans to almost triple, to €1.4 trillion, says the ECB.
“Companies from outside the euro zone are setting up vehicles to issue debt in euros and thereby qualify for the ECB’s purchase programs.”
Central-Bank Forked-Tongue Syndrome.
But the ECB went into high gear to soothe the pain of the banks.
Fed leads in trimming its balance sheet; Now Bank of England governor publishes the reasoning for central banks to shed assets – before raising interest rates. A big shift!
Foreign Companies welcome. US Tax dodgers that didn’t qualify in the US, no problem.
But auto sales had already dropped three years in a row — before Covid.
“The stimulus the country urgently needs is not experimental and dangerous monetary policy.”
A curious phenomenon.
The flight into US dollars! Dollar-denominated debts of Mexican companies weigh heavily.