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 […]
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 […]
In the Blind Spot (Greedflation, Conglomeration, War Games)
This edition of the Blind Spot Wrap was compiled by Izabella Kaminska and Dario Garcia Giner. Multipolar spin: Macron caused a stir by saying the EU should oppose “the extraterritoriality of the US dollar” so Pacemaker’s Kathleen Tyson dove into the historic roots of how the dollar became “extraterritorial”, and the “injustice and risks extraterritoriality […]
In the Blind Spot (Black Ops Capital, Daisy Chain QE, Substack)
This week’s Blind Spot Wrap was compiled by Izabella Kaminska and Dario Garcia Giner. De-dollarisation goes mainstream:. The IMF’s latest Currency Composition of Official Foreign Exchange Reserves (COFER) release showed an increase in overall positions in Q4, 2022. Kathleen Tyson of Pacemaker Global argued the data could indicate that her theory that Western central banks […]
In the Blind Spot (De-dollarisation, MMFs, Rollover)
This edition of the Blind Spot Wrap was compiled by Izabella Kaminska and Dario Garcia Giner. US dollar says: Et tu Brute? Kenyan President William Ruto claimed measures had been put in place to protect local and international businesses from dollar shortages, and that their impact would be felt soon. Oil producers will now purchase fuel […]
Germany’s e-fuel fetish ain’t new. Just ask the Führer. (POLITICO)
By Matthew Karnitschnig – Mar 28, 2023 BERLIN — Hitler had a problem. It was early June in 1942 and though the diabolical German leader’s plan to whip his Volk into a frenzy and rape and pillage the rest of Europe showed early success, his army had run into a wall in Stalingrad and was […]