Euro Area

[gaelic cowboy]

Calm down dears, everything's going to be OK. Pour quoi? Coz Captain Euro is here to save the day.

http://www.captaineuro.com/

Ruth is surely stranger than Richard.

what in the name of all that is holy and right in the Guinness brewery is that.

To be honest this is the bigger laugh from todays Irish Times Trichet wins medal for services to European unity

[Furunculus]

what in the name of all that is holy and right in the Guinness brewery is that.

To be honest this is the bigger laugh from todays Irish Times Trichet wins medal for services to European unity

re the link.

trichet can has his financial supervision........... over the eurozone. i am perectly willing to let bloody minded british obstruction bring the entire shooting match down in chaos and misery, rather than be dragged into fiscal union.

liberty has a price, its just a question of how many trichet will sacrifice to pay for mine!

[gaelic cowboy]

re the link.

trichet can has his financial supervision........... over the eurozone. i am perectly willing to let bloody minded british obstruction bring the entire shooting match down in chaos and misery, rather than be dragged into fiscal union.

liberty has a price, its just a question of how many trichet will sacrifice to pay for mine!

The reality is the ECB is TOO independent and this independence is killing the EU dream slowly a little bit more everyday.

Every time I hear an ECB board member say something like "Well will withdraw support from X if you default/restructure etc etc" I laugh, in a common currency the money flows over borders anyway.

He knows the time of strict independence of the ECB is coming to an end, after all it was only made so independent because the Germans didn't trust the French and Italians to mess with the currency.

[Louis VI the Fat]

The reality is the ECB is TOO independent and this independence is killing the EU dream slowly a little bit more everyday.

Every time I hear an ECB board member say something like "Well will withdraw support from X if you default/restructure etc etc" I laugh, in a common currency the money flows over borders anyway.

He knows the time of strict independence of the ECB is coming to an end, after all it was only made so independent because the Germans didn't trust the French and Italians to mess with the currency.

Captain Euro will make short notice of your fascistoid Euroscepticism!

[gaelic cowboy]

Captain Euro will make short notice of your fascistoid Euroscepticism!

CapnYoro what a joke.

Honestly you dont think there is a case to answer for the ECB been too obsessed with its independence.(while at the same time each member briefing there own national media in a manner no central bank board ever would anywhere)

[Kralizec]

The reality is the ECB is TOO independent and this independence is killing the EU dream slowly a little bit more everyday.

Every time I hear an ECB board member say something like "Well will withdraw support from X if you default/restructure etc etc" I laugh, in a common currency the money flows over borders anyway.

He knows the time of strict independence of the ECB is coming to an end, after all it was only made so independent because the Germans didn't trust the French and Italians to mess with the currency.

Partly. Also in part because they (the Germans) wanted the ECB to be like their own central bank, wich has proven time and time again to be a solid institution. Can't say I disagree.

[gaelic cowboy]

Partly. Also in part because they (the Germans) wanted the ECB to be like their own central bank, wich has proven time and time again to be a solid institution. Can't say I disagree.

Except the Bundesbank was only ever concerned with Germany whereas the ECB is a much larger concern and this was quite frankly beyond it.

Also the Bundesbank was just as caught out by large scale capital flows as everyone else was.

[Kralizec]

Yes, and how does that make the Bundesbank worse than other central banks?

If anything the ECB isn't independent enough. They should never have let themselves get pressured into buying government bonds from Greece and whatnot.

[gaelic cowboy]

Yes, and how does that make the Bundesbank worse than other central banks?

If anything the ECB isn't independent enough. They should never have let themselves get pressured into buying government bonds from Greece and whatnot.

I didn't say they were worse I said they made the same mistakes so they dont get a free pass on this mess, German banks hold massive amounts of Greek paper which suits the ECB fine and must be a black mark on the Bundesbank.

They were not pressured they had to buy lets remember they are the central bank of Greece, plus they must show faith in there own plan to fix Greece how could they expect others to buy Greek bonds to fix the deficit.

Thats like the old central bank of Holland telling the people in say Eindhoven there local bank will be abandoned totally with there savings evaporated, this never happens anywhere and it certainly wont happen under the ECB they have no other plan.