The banks stand on the edge of collapse. But it is the European Central Bank that has pulled the plug by threatening not to accept Cypriot government debt as collateral against liquidity support.
Group items matching
in title, tags, annotations or urlBig trouble from little Cyprus - FT.com - 0 views
-
-
A restructuring of public debt is still likely. As Hamlet advises: If it be not now, yet it will come.
-
Is there no alternative to the bail-ins? Yes: direct bank recapitalisation by the eurozone, for which the sum required is a small matter. If the banking union had been up and running, that would have happened. It is not, presumably because core countries do not want to bail out mismanaged banking systems,
- ...6 more annotations...
Read, I, Pencil | Library of Economics and Liberty - 0 views
-
Simple? Yet, not a single person on the face of this earth knows how to make me.
-
Not much meets the eye—there's some wood, lacquer, the printed labeling, graphite lead, a bit of metal, and an eraser.
-
a cedar of straight grain that grows in Northern California and Oregon
- ...16 more annotations...
-
" Articles EconLog EconTalk Books Encyclopedia Guides Search "I, Pencil: My Family Tree as told to Leonard E. Read" A selected essay reprint Home | Books | Read | Selected essay reprint Read, Leonard E. (1898-1983) BIO Display paragraphs in this essay containing: Search essay Editor/Trans. First Pub. Date Dec. 1958 Publisher/Edition Irvington-on-Hudson, NY: The Foundation for Economic Education, Inc. Pub. Date 1999 Comments Pamphlet PRINT EMAIL CITE COPYRIGHT Start PREVIOUS 4 of 5 NEXT End "
One more summit: The crisis rolls on | vox - 0 views
-
Reading the official documents from the June 28 summit requires linguistic and divination skills.
-
The clearest result is that EFSF/ESM funds can be used directly to support banks.
-
The summit attendees seem to have successfully drawn the conclusion that this was necessary from the disastrous impact of their mid-June decision on new lending to Spanish authorities to shore up their banks. Within hours, the main conclusion drawn by the markets was that the Spanish public debt had grown by €100 billion, bringing Spain closer to the fate of Ireland (bad bank debt dragging down a government with an otherwise healthy fiscal position).
- ...10 more annotations...
1 - 4 of 4
Showing 20▼ items per page