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MvL

19

Apr 2017

0

The day Europe goes bankrupt. By Prince Michael of Liechtenstein

Behavioral scientists have observed that man as a species has developed an ability to ignore threatening or negative information. We tend not to look closely at bank statements showing debt or disturbing results of medical tests. Surprisingly, people with higher IQs are even more prone to this mental displacement than the less ...

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MvL

16

Dez 2016

0

25 years after Maastricht, the euro is worth rescuing. By Prince Michael of Liechtenstein

Europe is commemorating the inception of its common currency, the euro, a quarter of a century ago. The goal to establish it was set forth in the Maastricht Treaty, which was drafted in December 1991 and entered into force in 1993. The currency began its virtual existence in 1999, and euro bills and coins entered […]

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ezb-5

22

Nov 2016

0

Seen and not seen: EZB-Geldpolitik und Zombie-Firmen. Von Alexander Fink und Kevin Spur

Als die Zinssätze auf Staatsanleihen strauchelnder Regierungen im Euroraum bis zum Sommer 2012 enorm stiegen, kündigte EZB-Präsident Mario Draghi am 26. Juli 2012 an, dass die EZB „innerhalb ihres Mandats alles Erforderliche tun [werde], um den Euro zu erhalten“. Das bis heute ungenutzte OMT-Programm war geboren, das einen ...

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Enrico Colombatto (250x300)

12

Okt 2016

0

QE has failed. What comes next? By Enrico Colombatto

Expansionary monetary policy has been in place for eurozone economies for almost five years, and the results have been disappointing. Authorities in Brussels and Frankfurt had hoped that a few months of low interest rates, unlimited support for commercial banks and implicit guarantees to worried government-debt holders would be ...

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euro-ezb

14

Sep 2016

0

Eurozone: Keine Strukturreformen in Sicht. Von Gordon Kerr und John Butler unter Mitwirkung von Enrico Colombatto

Die Glaubwürdigkeit der EZB-Strategie geldpolitisch gestützter Strukturreformen schwindet, denn die Euro-Mitgliedsstaaten scheinen wenig geneigt, ihre Haushaltsdefizite ernsthaft anzugehen. Nicht nur Kritik seitens der Europäischen Kommission und hochrangiger Politiker lässt Zweifel am Kurs der EZB aufkommen. Auch wachsende ...

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enricocolombatto#

05

Sep 2016

0

Central banks and corporate bonds. By Enrico Colombatto

Late in the 20th century, the role of central banks as a safety net for the banking industry became stronger. If a commercial bank ran into trouble, it was widely believed that the central bank would step in and offer all the (paper) money required to ward off a liquidity crisis, bankruptcy and contagion. Recently, […]

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