Author Archives: bzik2

About bzik2

A beginning central banker with a twist

“Euro is like hotel California…

…you can check out any time but you can never leave” says a new Greek minister of finance, professor of economics at the University of Athens. Read more at: http://www.bloomberg.com/news/articles/2015-01-27/greece-s-new-finance-minister-says-euro-is-like-hotel-california

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European court says Yes to QE ‘bazooka’

“Plans for a full-scale money-printing operation to spur growth and inflation in the struggling eurozone cleared a legal hurdle yesterday after a favourable verdict from the European Court of Justice.” http://www.independent.co.uk/news/business/news/european-court-says-yes-to-qe-bazooka-9979035.html

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Summers withdraw from Fed race

“Lawrence Summers has taken himself out of the running to be the next chair of the Federal Reserve, withdrawing his name after opposition from key Democratic senators indicated they would oppose his nomination.” News after Financial Times

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Why, oh why?

“Microsoft is to buy Nokia’s mobile phone business and patents for €5.44bn ($7.2bn) in an all-cash deal that will reshape the telecoms industry on two continents and comprise a big bet that Microsoft can challenge Apple and Samsung. The deal … Continue reading

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Demoralized employees at the Fed-survey reports

http://m.huffpost.com/us/entry/3826165 “Regulators overseeing the nation’s largest financial institutions are distrustful of their bosses, afraid to speak out, and feeling isolated, according to a confidential survey this year of Federal Reserve employees.”

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“No one is ever really sorry when an economist dies.”

said Walter Bagehot. After the subprime crisis burst in 2008, people were probably thinking: no one is ever really sorry when a banker dies. I recommend reading about a mock trial of economists organized by LSE in 1933. I found … Continue reading

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Bundesbank declares ‘war’ on Mario Draghi bond bail-out at Germany’s top court

Germany’s Bundesbank has issued a devastating attack on the bond rescue policies of the European Central Bank, rendering the eurozone’s key crisis measure almost unworkable. http://www.telegraph.co.uk/finance/financialcrisis/10021894/Bundesbank-declares-war-on-Mario-Draghi-bond-bail-out-at-Germanys-top-court.html This is news from April but the solution/next info is to be expected in … Continue reading

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Some personal public relations

Me on central banks on the first webpage of the University of Turku (English version) http://www.utu.fi/en/Pages/home.aspx and more here: http://www.utu.fi/en/news/articles/Pages/in-banks-we-trust.aspx Soon I’ll write a report from the recent Meeting of the European Central Punk that took place in Zurich, 3-6April, … Continue reading

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Kenen on the euro | vox

Kenen on the euro | vox. One of the world’s most influential international economists, Peter Kenen, passed this week. This column highlights the key role his insights played in the construction of the Eurozone and the problems that arose when … Continue reading

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ECB Ambition Fulfilled for Mersch as Bowles’s Gender Fight Rages, writes Bloomberg.com

“Yves Mersch is about to fulfil an ambition denied to the Luxembourg central bank governor for months in a fight over gender politics as he fills the vacant slot on the European Central Bank’s Executive Board. After the longest battle … Continue reading

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