Greece Archive

ECB Capital

I’ve been reading up some on ECB capital. Seems a minimum capital level for the ECB is not specified. However, the ECB distributes profits ultimately to the national govts. And that ECB losses are ultimately the responsibility of the national govts. That’s why, faced with potential losses, the ECB has required the ...Read More

ECB and Euro zone on Greek debt haircuts

So how do you reconcile these two releases? How about, they want the market to price in large haircuts so the ECB can buy the bonds that much cheaper? Just guessing! ECB Says Private-Sector Involvement in Rescues is Stability Risk By Jeff Black October 13 (Bloomberg) — The ECB said the involvement ...Read More

Trichet comments

As suspected: *DJ Trichet: No Crisis Of The Euro As A Currency He looks at the euro as a currency as per the single mandate of price stability. *DJ Trichet: Euro As Currency Is Evidently Not In Danger There is no euro crisis as the value of the euro has been reasonably ...Read More

Greek public debt- not as bad as headlines indicate?

Sustainability of Greek Public Debt ...Read More

Merkel does not want to allow Greece to default

To my point, Merkel’s view is now that allowing Greece to default is a gift to the Greek govt. that rewards bad behavior, introduces moral hazard, etc. The trick is to support Greece and not permit default without using German taxpayer funds and without weakening the credit capacity of Germany. Hence, the ...Read More

Lignet Link

Interview with Langley Intelligence Group ...Read More

Mosler: Greek Default Not Logical Path Out of Crisis

Mosler: Greek Default Not Logical Path Out of Crisis By Forrest Jones and Kathleen Walter September 30 — Letting Greece default won’t end Europe’s crisis and won’t allow Germany and other core nations to brush themselves off and move merrily on their way, says Warren Mosler, principal and co-founder of AVM, an ...Read More

Mosler Bonds for the ECB, and reasons why Greece will not be allowed to default

First, The ECB should turn the bonds it buys into Mosler bonds, by requiring the govt of issue to legally state that in the case of non payment, the bearer on demand can use those bonds for payment of taxes to the govt of issue. The ECB holding Mosler bonds will shift ...Read More