ECB Archive

Bloomberg: Trichet says U.S. must pass plan to rescue ‘Global Finance’

[Skip to the end] Interesting how Europe feels its fate is in the hands of the US. The Euro was supposed to change all that. Yes, the national governments know they are constrained fiscally by their self imposed 3% deficit limits. And they also suspect that they are further limited by market ...Read More

Telegraph: Eurozone risks

[Skip to the end] Highlights are in yellow. Problem is it needs a fiscal response, and this all has nothing to do with interest rates. Banking crash hits Europe as ECB loses traction by Ambrose Evans-Pritchard (Telegraph) Analysts say German finance minister Peer Steinbrueck may have spoken too soon when he crowed ...Read More

Can the euro payments system last the week?

[Skip to the end] Euro equities and banks are now under attack, and the ECB is effectively borrowing hundreds of billions USD from the Fed via swap lines. The eurozone deposit insurance is by the national governments, not the ECN, which are credit constrained. National government euro bonds have been supported by ...Read More

Cliff’s Speech

[Skip to the end] (the blockquotes represent powerpoint slides) September 10th, 2007: Speech given at the Foundations and Endowments Investment Summit pdf version How Modern Money Operates and the Consequent Investment Implications by Cliff Viner, III Associates I’m taking a great risk here today. I’m taking a great risk in presenting statements ...Read More

The Daily Telegraph: Bank borrowing from ECB

[Skip to the end] [written on Sunday] While not a problem in the US for the Fed to do this and more (in fact it should be standard operating procedure), the eurozone has self imposed treaty issues that make it very problematic. If there are defaults its the national governments that will ...Read More

2008-05-16 EU Highlights

[Skip to the end] Only the rising euro has kept the ecb from hiking, so far. Highlights ECB’s Trichet Sees ‘Less Flattering’ Growth in Second Quarter ECB concern over liquidity scheme Trichet Says No Room to Relax in Inflation Fight ECB’s Mersch Says Current Rates Will Help Curb Inflation French First-Quarter Payrolls ...Read More

2008-04-04 EU Highlights

ECB’s Constancio Says Stronger Euro Helping to Curb Inflation So far, with inflation running well above target the ECB has decided it can’t afford to deliberately weaken the euro even with exporters screaming. ...Read More

Bloomberg: Europe inflation accelerates to 3.5%, sentiment drops

Europe Inflation Accelerates to 3.5%, Sentiment Drops By Fergal O’Brien (Bloomberg) European inflation accelerated to the fastest pace in almost 16 years, making it harder for the European Central Bank to cut interest rates as a global credit squeeze saps confidence among executives and consumers. Consumer-price inflation in the euro area accelerated ...Read More

ECB on inflation, again

Trichet expresses the mainstream view of monetary policy: “The financial market correction — it’s a very significant correction with turbulent episodes — that we are observing provides a reminder of how a disturbance in a particular market segment can propagate across many markets and many countries, Trichet said in a debate at ...Read More

ECB reiterates rate hike warning

ECB reiterates rate hike warning FRANKFURT(AFP): The European Central Bank (ECB) reiterated Thursday a strong warning about eurozone inflation, calling for price and wage moderation and suggesting it would raise interest rates if necessary. A monthly ECB bulletin said it was “absolutely essential” that long-term inflation be avoided, underscoring that the bank ...Read More