February 29, 2012
The ECB held its second three year long term refinancing operation (LTRO) this morning. Overall 800 banks requested €529bn in funding. The market and wider reaction has been mixed – the amount was well within expectations although the number of ban…
Posted by Open Europe blog team
We’ll get back with a take on today’s €529 bn of loans by the ECB to 800 banks, via the so-called LTRO, soon.But first, something different. Remember, we’ve long been critical of the ECB’s backhanded QE, which has created a range of zombie banks in …
Posted by Open Europe blog team
February 28, 2012
The Irish government has just announced that it will hold a referendum on the euro fiscal compact. The Irish Taoiseach Enda Kenny said he had taken advice from the country’s Attorney General, and made the decision to call a public vote. He also said …
Posted by Open Europe blog team
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esm, eurozone. bail-out, fiscal compact, fiscal treaty, germany, ireland, Irish referendum, Merkel, referendum, sovereign debt, sovereignty |
Posted by Open Europe blog team
A few interesting developments overnight and this morning in the eurozone. Specifically, S&P’s decision to put Greece into ‘selective default’ and the ECB’s reaction.‘Selective default’ is essentially a partial default rating (in this c…
Posted by Open Europe blog team
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bail-out, ECB, ELA, eurozone, finance, Greece, sovereign debt |
February 27, 2012
The picture on the left is not some random shot to illustrate excessive bureaucracy, it’s literally the document setting out the details of the second Greek bailout package, which German MPs just voted on.Not exactly bed time reading. As expected, the …
Posted by Open Europe blog team
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bundestag, democracy, eurozone crisis, Greek bailout, Scrutiny |
We’d figured this one would cause confusion once a paper reported on it.This morning’s FT noted that RBS and Lloyd’s are considering borrowing from the ECB’s long term refinancing operation (LTRO). Remember, the LTRO is the ECB’s ‘bazooka’ respon…
Posted by Open Europe blog team
With the debate ahead of the Bundestag vote on approving the second bailout package for Greece due to get underway in 30 min or so (as ever we will be covering the event live on our twitter page @openeurope), Germany’s biggest selling tabloid, Bild Zei…
Posted by Open Europe blog team
Open Europe has today published a new report looking at the EU’s farm policy – the Common Agricultural Policy (CAP) – and how it could and should be reformed. As we set out in the report, the UK gets a bad deal from the CAP, contributing £7.1bn …
Posted by Open Europe blog team
Open Europe has today published a new report looking at the EU’s farm policy – the Common Agricultural Policy (CAP) – and how it could and should be reformed. As we set out in the report, the UK gets a bad deal from the CAP, contributing £7.1bn …
Posted by Open Europe blog team
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