The European Central Bank said Thursday it had agreed on a framework for buying the bonds of troubled euro-zone countries on the open market in unlimited quantities, but left the timing unclear.
Central Bank Sets Bond Plan Meant to Ease Euro Debt Peril - NYTimes.com - 0 views
-
-
ON the open market, mimd
-
-
-
In essence, the bank left the next step to the beleaguered governments. They would be required to ask the E.C.B. formally to begin buying their bonds in the open market and would have to agree to follow detailed conditions for paying down their debt and hewing to fiscal discipline. It would be up to the E.C.B. to determine whether the terms of the agreement were acceptable, and whether the government was meeting those conditions over time.
- ...2 more annotations...
Merkel's good politics and bad economics - FT.com - 0 views
-
the ECB gears up to go full throttle into a business that, according to its statutes, is verboten: buying the debt of member states.
-
Of course, Mr Draghi mumbles about conditionality: cheap cash only in exchange for deficit-slashing and market reforms. Sure. And when Mr Monti and Mariano Rajoy, Spanish prime minister, instead bend to the wishes of their electorates, what then? Will Mr Draghi stop buying and let their bonds go through the floor? Of course not. You do not have to be a central banker to predict the obvious: no market pressure, no reform.
-
The ECB is about to turn into a money machine, into a lender of last resort, and damn the treaties that mandate an inflation-fighting commitment to “price stability”. The magic phrase now is “capping bond yields”, meaning the ECB buys up the debt of Italy and others in order to depress their borrowing costs.
- ...4 more annotations...
Italy's 'this time it's different' moment: With rejoinder by Giavazzi | vox - 0 views
-
Wyplosz - good article on self-fulfilling phrophicies
Eurocrisis: on towards total catastrophe - Mail Online - M E Synon's blog - 0 views
-
"catastrophe This is an edited version of my column in Monday's Irish Daily Mail -- "
German Bundesbank Opposes Euro Crisis Strategy - SPIEGEL ONLINE - 0 views
-
Good Der Spiegel article of late Aug 2012
Ways to accelerate private-sector deleveraging | Martin Wolf's Exchange - 0 views
-
The difficulties in financial de-leveraging. Excellent piece.
"Early Retirement for the Eurozone?" by Nouriel Roubini | Project Syndicate - 0 views
BBC News - Eurozone debt web: Who owes what to whom? - 0 views
-
Good graphics.
BBC News - What really caused the eurozone crisis? - 0 views
-
Good graphical treatment.
U.S. Ports Seek to Lure Big Ships After Panama Canal Expands - NYTimes.com - 0 views
-
But, he said, containers loaded on the West Coast, which has built up its container yards and highway and rail infrastructure, can outrun those that travel to the East Coast by water, and that can make the difference when speed and dependability are more important than cost alone
-
Besides, he added, costs and fees can shift; Panama can be expected to raise rates for canal passage, and “the railroads are not going to sit idly by” and let the water route undercut their business.
-
After Hurricane Katrina, Gov. Haley Barbour of Mississippi trumpeted plans for a “port of the future” at Gulfport with a 50-foot-deep channel, redirecting some $600 million in federal housing disaster funds on a project he pledged would spur the economy and create bountiful jobs.
- ...1 more annotation...
« First
‹ Previous
1021 - 1040 of 1248
Next ›
Last »
Showing 20▼ items per page