Tag Archives: Stabilisation

ECB Market Intervention: The Securities Market Programme (SMP)

Update: As of September 6th, 2012, the SMP was discontinued and the assets held in its accounts were transferred assimilated by the Outright Monetary Transactions (OMT) accounts. For a preliminary assessment of the OMT, please check this blog post. Otherwise, … Continue reading

Posted in Aides Memoire, ECB, Economic Concepts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | 13 Comments

ECB Market Intervention: Covered Bond Purchasing Programme (CBPP)

Having looked at the tools available to the ECB, at its balance sheet, and at the transmission of monetary policy into the interbank lending market.after considering financial market failures due to Fractional Reserve Banking, overlending and VaR, I would like … Continue reading

Posted in Aides Memoire, Banking, ECB, Economic Concepts | Tagged , , , , , , , , , , , , , , , , , | 10 Comments

A very brief note on corporate mobility

I read this great piece by the Economist and almost peed myself with laughter! It’s an interesting piece for two reasons. First because it describes a real scientific concern about the mobility of corporations which makes a lot of different … Continue reading

Posted in Banking, Current Events | Tagged , , , | Leave a comment

Thank you Mr Bini Smaghi, but Fiscal Federalism is not Centralisation…

As I mentioned in an earlier post, Mr Lorenzo Bini Smaghi recently gave a speech where he addressed the issue of European Fiscal Union, at length. That post gave a pure report of the speech and made no efforts to … Continue reading

Posted in A € for your Thoughts, Sovereign debt Crisis | Tagged , , , , , , , , , , , | Leave a comment