http://globaleconomicanalysis.blogspot.co.uk/2014/02/germany-at-heart-of-europes-political.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
The
German Constitutional Court has ruled against the European Central
Bank’s pledge to buy potentially unlimited quantities of distressed
eurozone countries’ government bonds, and has called on the European
Court of Justice (ECJ) to confirm its decision. Until that happens, the
“outright monetary transactions” (OMT) scheme is effectively dead,
weakening the ECB’s ability to act as an effective and credible
financial-market backstop at a time when European governments remain
unwilling to fill the void.
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
The
German Constitutional Court has ruled against the European Central
Bank’s pledge to buy potentially unlimited quantities of distressed
eurozone countries’ government bonds, and has called on the European
Court of Justice (ECJ) to confirm its decision. Until that happens, the
“outright monetary transactions” (OMT) scheme is effectively dead,
weakening the ECB’s ability to act as an effective and credible
financial-market backstop at a time when European governments remain
unwilling to fill the void.
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
The
German Constitutional Court has ruled against the European Central
Bank’s pledge to buy potentially unlimited quantities of distressed
eurozone countries’ government bonds, and has called on the European
Court of Justice (ECJ) to confirm its decision. Until that happens, the
“outright monetary transactions” (OMT) scheme is effectively dead,
weakening the ECB’s ability to act as an effective and credible
financial-market backstop at a time when European governments remain
unwilling to fill the void.
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
The
German Constitutional Court has ruled against the European Central
Bank’s pledge to buy potentially unlimited quantities of distressed
eurozone countries’ government bonds, and has called on the European
Court of Justice (ECJ) to confirm its decision. Until that happens, the
“outright monetary transactions” (OMT) scheme is effectively dead,
weakening the ECB’s ability to act as an effective and credible
financial-market backstop at a time when European governments remain
unwilling to fill the void.
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
How financial markets will digest the German court’s ruling remains uncertain. There may be little initial reaction to the news, as there is no immediate threat to financial stability in the eurozone. But the big question is how markets will react in the future to bad news, whether about sovereigns or banks.
Read more at http://globaleconomicanalysis.blogspot.com/2014/02/germany-at-heart-of-europes-political.html#JgGH4SviopaEFVbF.99
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