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Archives for ECB

The Commission has today presented plans to tighten up budgetary supervision and oversight in an attempt to avoid a repeat of the current eurozone crisis in the future (i.e. making up for the obvious and fundamental flaw of the eurozone, which is that …

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What was inconceivable only a couple of months ago has now happened: EU leaders have agreed a massive €500 billion bailout package for eurozone countries facing sovereign debt problems – on top of the €110 billion already committed in a separ…

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Eurozone finance ministers yesterday agreed on a €30bn loan commitment to Greece over the next year, as part of a three-year commitment, with the IMF potentially coughing up another €10-15 billion. The interest rate on the loans is set at five p…

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This question is asked on today’s frontpage of Germany’s leading financial daily Handelsblatt, against the backdrop of a 50 euro note going up in flames (see picture).The quite sensational splash is apparently a reaction to ECB President Jean-Claude …

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As Greece’s troubles continue (save yesterday’s temporary boost), the debate on whether the EU Treaties legally allow the EU to bail out one of its member states rages on. On his blog, the FT’s EU correspondent Tony Barber claims that the “EU possesses…

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You can never leave

A recent legal paper by the European Central Bank deals with the subject: “Withdrawal and Expulsion from the EU and EMU: Some reflections”. It has received quite a bit of attention. Unsurprising, perhaps, given the state of the Greek economy (see h…

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