ICYMI: Germany floats subsidies for energy-intensive industries (POLITICO)
By Victor Jack, Gabriel Rinaldi · May 5, 2023 BERLIN — Germany’s Economy and Climate Minister Robert Habeck on Friday proposed a plan to subsidize electricity costs for struggling energy-intensive industries, hinting at support for EU joint debt to fund the measure bloc-wide if necessary. In a working paper, Habeck’s ministry suggested reimbursing energy-intensive companies […]
ECB needs a new type of bazooka to battle Baltic risk (POLITICO)
By Johanna Treeck · May 5, 2023 FRANKFURT — Russia’s war has pushed borrowing costs for the Baltic states above those of the most indebted eurozone member countries, opening a new chapter in a saga that has been an obsession of policymakers and financial markets since the sovereign debt crisis. This time it’s not out-of-control […]
In the Blind Spot (Grey economy — Influencers — Drug wars)
Happy coronation weekend to all my royalist readers, but also commiserations to the republicans. It’s been an extraordinarily busy week for me, but things will get into more of a normal flow as soon as the new Charles era begins proper. This edition of the Blind Spot Wrap was mostly compiled by Dario Garcia Giner, […]
In the Blind Spot (Soft power — Gazprom Mercenaries — NIM)
Greetings and welcome to the weekend. I thought it was hayfever that I was suffering from but turns out it was actually a cold, no doubt connected to the lack of any semblance of spring or summer in the UK. I still have my winter coat hanging out, goddammit. This week’s Blind Spot Wrap was […]
Who will pay for the digital euro? Because seigniorage may not be enough (POLITICO)
By Bjarke Smith-Meyer · Apr 27, 2023, 10:41 AM BRUSSELS ― Banks don’t like it, ordinary people have never heard of it, and shopkeepers don’t want to pay for it. Apart from that, the European Central Bank’s digital revolution is getting off to a really great start. The ECB needs to find a way of […]
ECB member calls for fiscal progress as 25th anniversary nears (POLITICO)
By Johanna Treeck · Apr 24, 2023 FRANKFURT — As it heads toward its silver anniversary in May, the European Central Bank (ECB) has its eyes on a less conventional gift than most would want to mark the occasion — a more meaningful step toward a full fiscal union. “We need to start thinking about […]
Spot Markets Live 24/04/23 ***On near death experiences***
.. Anjuli Davies10:59 Morning morning ! FRANCES COPPOLA10:59 Morning everyone Anjuli Davies10:59 Frances, you’ve had a busy morning already You’re officially a talking head on Credit Suisse FRANCES COPPOLA11:00 I took over the BBC Anjuli Davies11:00 Ah Jim Cramer ….. FRANCES COPPOLA11:01 Credit Suisse outflows… CHF 61bn in the first quarter, following CHF 110bn in […]
In the Blind Spot (Meme warfare, RTGS renewal, HSBC)
This week’s Blind Spot Wrap was compiled by Izabella Kaminska and Dario Garcia Giner, but sadly suffered an unscheduled delivery failure. Apologies for the delay! Business, econ, finance etc: The Reserve Bank of Australia said it would split its board into two panels: one to handle interest rates and another to handle currency issuance. The […]
Spot Markets Live (17/04/23) ***time to charge depositors edition?***
Anjuli Davies10:58 Good morning! FRANCES COPPOLA10:58 Morning! Anjuli Davies10:59 Welcome back Did you have a good Easter break? FRANCES COPPOLA10:59 I did. Northumberland is beautiful at this time of year. Anjuli Davies10:59 Sun’s out, markets are up – what’s there to talk about? FRANCES COPPOLA11:00 Nicely green. Apart from Barclays . Anjuli Davies11:01 There’s been […]
Rationist No. 7: That extreme wealth concentration destroyed the Roman Republic
This is the seventh in a series of essays by Tim Ferguson, founder of the Anacyclosis Institute, arguing in favour of Rationism, a middle-class-oriented political theory that advocates benchmarking the national economy against the national median household net worth. Izabella Kaminska has also described Rationism as Vitruvian Capitalism, based on its promotion of the values […]