Tag Archives: debt repurchases

ECB: Monetary Policy Transmission – Interest Rate Channel System, Reserves & the Interbanking Market

Having looked at the tools available to the ECB and at its balance sheet, after considering financial market failures due to Fractional Reserve Banking, overlending and VaR, I would like to turn my attention to the actual operation of monetary … Continue reading

Posted in Aides Memoire, Banking, ECB | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

The end (of the crisis) is nigh! – On treaty change and Lenders of Last Resort

Another week and another bout of hysteria, as banks warn about the risk of a Euro-breakup due to the upcoming banking crisis. May be that’s to over do it, but clearly it increases the ever unquantifiable risk of that happening. … Continue reading

Posted in Current Events, ECB | Tagged , , , , , , , , , , , , , | 1 Comment

Euro-Update(29): November 2011 Roundup

November has been a very busy month. In this post I propose to go through the political and economic news over the last 23 days. The figure below superimposes the relevant economic and political events on the movements of the … Continue reading

Posted in Euro-zone Update, Uncategorized | Tagged , , , , , , , , , | 1 Comment

The European Crisis Game they play: “Forecasting” the results of the July 21, 2011 Eurogroup meeting

I suppose this post applies to most decisions under crisis, but I suppose that this meeting is what everyone wants to know about. Right? So I’ll have a shot at it… I am actually going to go against everyone and … Continue reading

Posted in European Interdependences, Sovereign debt Crisis | Tagged , , , , , , , , , , , | Leave a comment

Euro Update (27): Repurchases or restructuring? What’s the trade-off?

You may have noticed that I have been spending some time writing about repurchases and debt restructures. I started out by mapping where we were, and more recently, where we are. I considered the options ahead and their apparent consequences … Continue reading

Posted in Euro-zone Update, Sovereign debt Crisis | Tagged , , , , | Leave a comment