Tag Archives: ECB

ZeroHedge – Tyler Durden – Draghi To Miss Jackson Hole Forum; All Rumors Now To Focus On ECB 6 September Meeting – 28 August 2012

With the market realization slowly dawning that Bernanke will not announce anything of note at this year’s Jackson Hole meeting, especially with the NFP number following the symposium expected to demonstrate another improvement in the economy, and ahead of the FOMC meeting in the second week of September, many hopes were resting on the shoulders of Draghi, whose ECB has now become a backup option when it comes to jawboning markets higher on empty promises. Continue reading

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ZeroHedge – Tyler Durden – What Today’s Real ECB News Really Means – 24 August 2012

Bloomberg has run a story, citing two anonymous central bank officials, stating the ECB may not be ready to finalise its plan to buy government bonds at the September 6th meeting. JPMorgan’s European economists note that the story cites two reasons for this: (a) The Governing Council wish to wait until they have seen the German constitutional court ruling on September 12th before proceeding; and (b) The programme is still being worked on staff may not be able to finalize it by then. Critically, JPM, like us, regard (a) as something of a smokescreen. Continue reading

Mish/ Mike Shedlock – ECB Considers Interest Rate Caps; Such A Scheme Possibly Work? – 19 August 2012

The European Central Bank is considering buying the bonds of crisis-wracked eurozone countries to ensure borrowing costs do not rise beyond a pre-determined level, German newsweekly Der Spiegel said Sunday. Continue reading

Der Spiegel – Printing Money The European Central Bank’s Discreet Help for Greece – 9 August 2012

The European Central Bank is now taking risky measures to help save Athens from its acute financial emergency. Increasingly, euro-zone leaders are pushing the dirty work on the ECB. In the end, though, they will likely have no choice but to pay Greece the next tranche of its bailout package. Continue reading

John Ward – ECB Policy On Greece: Yes, You Do Have To Be Mad To Work Here – 7 August 2012

It doesn’t get much sillier than this.

Earlier on Eurenders, Mario the money-changer told Stavros at the Bank of Greece that he could have more and easier access to the wonga at Mario’s Loans. But Stavros already owes Mario €3.2Billion on a previous Bond.

So Stavros asks the eurozone for a bridging loan from the ECB to pay back the Bond issued to the ECB. Eurozone says no. So Stavros asks the ECB for a further 30 days in which to cough up. Eurozone says no. Continue reading

Mish/ Mike Shedlock – Is There A Limit On Central Bank’s Ability To Inflate? – 25 June 2012

On Friday, ECB President Mario Draghi announced ECB to Accept BBB- Rated Debt (One Step Above Junk) as Collateral. Reaction from the German central bank was immediate: Bundesbank Swipes at Draghi as European Fault Lines Deepen

“We’re critical of this,” Bundesbank spokesman Michael Best said yesterday. In terms of collateral, “we won’t accept what we don’t have to accept,” he said. Continue reading

Mish/ Mike Shedlock – Casino Bar Shall Remain Open : ECB “On Standby” Promising Liquidity For Greek Election Fallout; Bank Of England Launches Two New Stimulus Packages – 15 June 2012

The message of the day is “damn the consequences, the casino bar shall remain open”, whatever it takes, no matter the consequences to taxpayers who will be responsible for the bar tab.

Bank of England Launches Two New Stimulus Packages

The BBC reports Bank shares jump on new business support plans Continue reading