Tags: european central bank
Europe: This is not 1992-93
October 22nd, 2011
in Op Ed
by Dirk EhntsPaolo Pesenti at the NY Fed’s Liberty Streets Economics blog correctly describes the European Crisis of '92-'93. However, his conclusion is partly open to debate:From the summer of 1993 on, building domestic credibility meant, in additio… more »
The Disappearing Credit Crunch
October 17th, 2011
in Op Ed
by Dirk Ehnts Here is some reporting on the ECB from the October 6 NYT (my highlighting):To help avert a credit crunch, the E.C.B. also said it would resume buying so-called covered bonds, which are a form of debt secured by packages of loans an… more »
Spreading Haircuts in the EU?
October 12th, 2011
in Op Ed
by Dirk Ehnts If and when Greece gets a hair cut of 20% (50%?), all other countries will ask for the same. A Latvian newspaper reports (via Google Translate): If indeed Greece, for obedience to write off 50% debt, the Latvian will certainly be ask… more »
Mosler Bonds: Isolate Default Cost to the Defaulter - Prevent Default
September 29th, 2011
in Op Ed
by Warren Mosler The proposal is simple: The ECB should turn the bonds it buys into Mosler bonds, which provide the feature requiring the government of issue to legally state that, in the case of non payment, the bearer on demand can use those bonds fo… more »
I'm Okay, EUR Okay?
August 22nd, 2011
in Announcements, Op Ed
by Warren Mosler First, the euro funding issue/crisis could vanish with a simple announcement, like:The ECB (European Central Bank) hereby guarantees all the debt of the national governments. But they won't do that. They are worried about their abil… more »
