ESM is setting up an early warning for ex-program nations Direct recap is last defence for troubled viable banks Portugal has no problem borrowing at reasonable rates Klaus Regling and Jeroen Dijsselbloem are speaking on the ESM in Luxembourg Aside … Continue reading
European stocks are up xxx, Greek bonds are up xxx…, you get the picture They’ve also approved the 2013 ESM annual report
European Stability Mechanism just announcing No further detail at present
Deputy finance minister Werner Gatzer says there’s no reason to act on top court ruling. Glad that one is over and done with.
upholding preliminary ruling from 2012 says rights of German parliament to decide on budget not violated by ESM court reiterates Germany’s liability to ESM must be limited to EUR 190 bln, any further requirement must be approved by parliament also … Continue reading
Intention of ESM was that it wouldn’t be used Have to rely on existing treaties for bank union Determined to continue on the path of regulation Must regulate international shadow banking system Bank resolution fund to be built up over … Continue reading