Monthly Archives: December 2011

Banking Intermediation, FRB & Bank Runs

Posted on December 28, 2011 by fmpdea

Having described the tools available to the ECB (and these can be generalized to other CBs), I would like to briefly consider the functioning of the banking sector. In this post I will consider the very basic concepts of banking … Continue reading →

Posted in Aides Memoire, Banking | Tagged , , , , , , , , | 2 Comments

Christmas Charts & Readings

Posted on December 12, 2011 by fmpdea

So I’m off on a break. I hope you enjoyed all the drama and fallout from last Friday’s Council meeting. Fortunately, I was too busy to comment and blog about this over the weekend. “Fortunately”, because it strikes me as … Continue reading →

Posted in Uncategorized | Leave a comment

Merkel and Sarkozy’s Letter to Van Rompuy laying out the Dec 5 Agreement

Posted on December 7, 2011 by fmpdea

So I found the joint Franco-German press conference from December 5, at the website of the French Presidency (so in French) and confirmed (08:15 into the video) that the reporters did not misrepresent their statements. Merkel and Sarkozy had no … Continue reading →

Posted in Current Events, Euro-zone Update, European Integration | Tagged , , , , , , | Leave a comment

Accommodating the ECB and the Democratic Costs of Intergovernmentalism

Posted on December 7, 2011 by fmpdea

This post offers a short note clarifying the dynamics of the asymmetric relationship between the ECB and the governments of the Euro-area, its disparity with the USA and the UK and how this explains the lip service that is being … Continue reading →

Posted in ECB, European Integration, Sovereign debt Crisis | Tagged , , , , , , , , , , | 1 Comment

The latest Franco-German Agreement: Is it enough?

Posted on December 6, 2011 by fmpdea

So France and Germany reached what was hailed as yet another “comprehensive agreement” on the reform of the Eurozone fiscal policies. In my opinion this wasn’t that comprehensive an agreement. It was only the last of such several steps since … Continue reading →

Posted in Current Events, ECB, Euro-zone Update, European Integration, Sovereign debt Crisis, Uncategorized, Weekly Bond Yield developments in the Euro Area | Tagged , , , , , , , , , , , , , | 3 Comments