Berlin – Just in time for the May European elections euro area leaders reached a compromise on the Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF), the second pillar of the European banking union project. As the ECB assumed the key role in defusing the eurozone sovereign debt and banking crisis with the levers of … [Read more...] about Draghi´s German Nightmare
Central Banking
Draghi dreams about monetary policy always within the (ECB) mandate. Whether he dreams in Italian or German, he can´t say.
When Draghi was asked at an exclusive session of the World Economic Forum (WEF) by Philip Hildebrand, the former governor of the Swiss Central Bank and since October 2012 the Vice Chairman of Blackrock, whether he "dreams of monetary policy in Italian or German”, his nightmares with the “pervasive German angst” suddenly entered the Davos … [Read more...] about Draghi dreams about monetary policy always within the (ECB) mandate. Whether he dreams in Italian or German, he can´t say.
Big Unease at the Tower of Basel
Once a European fortress, the BIS is about to experience a Canadian takeover. Is this an emerging Anglo-Saxon Trojan horse? When Canadian central banker Malcolm D. Knight became managing director of the Bank for International Settlements in Basel many European central bankers were not happy. A major top reshuffling is underway these days at the Bank for International … [Read more...] about Big Unease at the Tower of Basel