Tag Archives: Mario Draghi

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

John Ward – Euroblown : Daftest Idea So Far From The EUnatics – 11 June 2012

ImageEuropean officials are drafting a proposal to issue joint euro-area bonds for countries running a budget deficit if all of the region’s governments agree, Der Spiegel reported yesterday afternoon. The ‘brains’ behind this idea are, predictably, European Commission President Jose Barroso, European Union President Herman van Rompuy, and Luxembourg Prime Minister Jean-Claude Juncker. Continue reading

Mish/ Mike Shedlock – Another Meaningless Nannycrat Rumor : Europe Mulls “Secret Plan For New Europe” – 4 June 2012

A story is making the rounds that suggests leaders are going to get together and hammer out a “fiscal union”.

The story appears to have originated on the Welt Online, a German tabloid. The article mentions a Secret Plan for a New Europe. Continue reading

John Ward – Crash 2 : Why Draghi’s Stron Words On The Euro Presage The First Big Banking Collapses. The Over Beveraged Banker Staggers in, Stage Right – 1 June 2012

“Her-huh…I guess Wall Street wen’ out an’ got drunk” (GW Bush, 2009)

When Mario Draghi directly says, in front of a phalanx of media and snappers, that without concerted action now the euro is dead, then you know he’s trying to do two things: first, stir the poetry nutters in Brussels into some form of action that isn’t entirely dyfunctional; and second, use that to slow down the melting process in order to keep attention away from the real deal: the banking collapse, and the entry of $700 trillion of derivates into the real world. It promises to be quite some birth. Continue reading

John Ward – Spanish Bankia Ruse : Draghi Bats The Stinky Ball Back To Madrid – 30 May 2012

“But eeth oonly leetle beet of thyeet, Mario…”

I’m amazed it’s taken this long to be honest, but Mario Draghi’s ECB yesterday told the chaps at Bankia thanks but no thanks in relation to their planned sh*t-for euros exchange via the ‘recapitalised’ Spanish bank. As I posted earlier this week, he had no choice: otherwise every bank from Arnhem to Zaragossa would’ve been at it. Continue reading

John Ward – Euroblown : Official Bankia Solid…Heading Draghi’s Way – 28 May 2012

Forget Grexit: this is euroexit

In an amazingly cunning stunt, the Spanish Government plans to pay for Bankia’s nationalisation with its own debt…and then get Mario Draghi’s European Central Bank (ECB) to exchange this junk for cash. And throughout ClubMed, poorer citizens are dumping the banks in favour of cash, while the 3% are dumping the euro in favour of London property. Continue reading

John Ward – Euroblown : Merkel “Fears Greek Distractions Will Torpedo Currency Union” – Summint Signposts : Hollande’s Eurobond, And Greece’s Banks – 23 May 2012

Can Hollande offer what Merkel wants?

The poker game that is non-negotiable bailout terms v Greek exit threat continues, but most of the propaganda is now coming from Berlin-am-Brussels. A German source suggested last night that Merkel is adamant that Greece must not derail the dash to Fiscal Union. If Francois Hollande gets his way, however, the Greeks will not be required to call the EU’s bluff – or vice versa. Continue reading