As was made evident by the internal memo about the EU financial transaction tax (FTT) – that we exclusively published yesterday – there are plenty of concerns amongst the supposed champions of the idea. Today, another heavyweight institution raised the…
Posted by Open Europe blog team
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bundesbank, ECB, ECB balance sheet, eurozone, financial markets, financial regulation, financial transaction tax, FTT, germany, interbank market, monetary policy, weidmann |
UK PM David Cameron is today meeting German Chancellor Angela Merkel, as part of British efforts to explain to EU partners the thinking behind Cameron’s recent EU speech. As we’ve argued repeatedly, this is the UK’s most important bilateral relationshi…
Posted by Open Europe blog team
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angela merkel, berlusconi, British diplomacy, Cameron. Anglo-German axis, ECB, ECR, eurobonds, germany, target 2 |
April 10, 2013
Yesterday, the ECB released its first survey on household wealth, which produced some surprising results – not least that Germany (on paper) seems to have one of the lowest levels of median wealth, below that of bailed out countries such as Cyprus an…
Posted by Open Europe blog team
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crisis, Cyprus, divergence, ECB, eurozone, Financial Services, german media, German public opinion, house prices, wealth |
March 28, 2013
Usually technical meetings behind closed doors in Brussels are pretty dull. However, judging by some of the reports floating around, yesterday’s meeting of the EU Committee of Permanent Representatives (COREPER) may have bucked the trend somewhat. Th…
Posted by Open Europe blog team
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bank bonus, banking regulation, banking supervision, banking union, Cameron's EU speech, CRD4, ECB, eu treaty, financial supervision, treaty change |
As we have noted at length, the capital controls are a key part of the Cypriot deal and could have a huge bearing on how and when Cyprus recovers from this crisis. Unfortunately, as with almost all important eurozone decisions, this one lacks clarity. …
Posted by Open Europe blog team
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bailout, bank capital, bank of cyprus, capital controls, cypriot parliament, Cyprus, ECB, ELA, eurozone crisis, eurozone exit, free movement |
March 24, 2013
Now, we’re not necessarily saying that Cyprus should leave the eurozone. But with eurozone finance ministers set for a pretty long and rough night of talks, trying to reach a compromise that will allow Cyprus to live another day inside the eurozone, th…
Posted by Open Europe blog team
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Article 50, Cyprus, default, ECB, eurozone, eurozone exit, treaty change |
In an op-ed yesterday’s Times, Mats Persson argued that:No matter how the nail-biting drama in Cyprus ends, the eurozone has never been this close to waving goodbye to a member. Yesterday afternoon the deputy leader of the ruling party claimed that hi…
Posted by Open Europe blog team
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Article 50, baailout, bail-ins, Cyprus, default, ECB, euro exot, ever closer union, treaty change |
It’s looking as if there will be a deal in Cyprus, although there are some big obstacles to be crossed to get there and it is likely to go down to the wire.Last night the Cypriot parliament voted to approve a few bills which will make a significant b…
Posted by Open Europe blog team
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bail-ins, bail-out, Cyprus, deposit levy, depositors, deposits, ECB, ELA, eurozone, imf, troika |
Is this Plan B or Plan C? We’ve lost track. Maybe Plan B+. Anyway, it seems that the Cypriot parliament is currently discussing the proposal for a ‘solidarity fund’ which the cabinet has reportedly unanimously approved. This idea originated yest…
Posted by Open Europe blog team
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bank capital, banking sector, Cyprus, ECB, eurozone, imf, sovereign debt |
The ECB – which holds the key to Cyprus’ future inside the euro by virtue of funding the country’s banks – this morning issued a statement which essentially set Monday as the deadline for a Cypriot bailout deal. It said:The Governing Council of the Eur…
Posted by Open Europe blog team
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bank capital, banking sector, Cyprus, ECB, ELA, eurozone. bail-out, liquidity, solvency, troika |
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