Lyddon Consulting Services Limited
We are a blue-chip specialist consultancy in international banking, focusing on matters related to the core domain of Payments and Cash Management. That leads to market change aspects such as the Euro, how to implement a change of currency, Single Euro Payments Area, and new services such as Bank Payment Obligation, and SWIFT for Corporates.
It also leads into the regulatory domain and measures such as Payment Services Directive, Anti-Money Laundering Directives, and regulations around cards, mobile, eMoney and mandatory information in funds transfers.
At Lyddon Consulting you will find find both methodologies and training packages to meet your needs and support your change programmes.
Latest posts
Full callable capital of the European Stability Mechanism by credit rating level
This chart supplements the IREF article published on 24th July 2024 entitled ‘There is no European Financial Safety Net, and therefore no Global Financial Safety Net’:
https://en.irefeurope.org/publications/online-articles/article/there-is-no-european-financial-safety-net-and-therefore-no-global-financial-safety-net/Bonds issued by the European Stability Mechanism have to be 100%+ backed by callable capital from member states with a given credit rating for the bonds to enjoy that same rating.
The European Stability Mechanism is meant […]
The ‘grown-ups’ seem to have cooked the books to keep UK debt below 100% of GDP – for now
Introduction
The Office for National Statistics data for the UK’s public debt in June 2024 was duly published, and there was a turnaround in the direction-of-travel, of sorts anyway.
June borrowing was another disastrous £14.5 billion, but this resulted in Debt/GDP being ‘provisionally estimated’ at 99.5%, when the equivalent Debt/GDP number in May was 99.8%.
How 2 + 2 = 3
The number of £££ […]
The ‘grown-ups’ have all but ensured that UK debt will exceed 100% of GDP, and that the only way from there is down
Introduction
Underline 21st July 2024 in your diaries.
This will be the publication date of the Office for National Statistics data for the UK’s public debt in June 2024.
Barring a turnaround in the direction-of-travel, the debt will exceed 100% of GDP.
UK public finances between January and May 2024
Debt was 99.8% of GDP in May, although for some obscure reason the ONS specified neither […]
Callable capital of the European Stability Mechanism (the ESM)
Callable ESM capital
The ESM has a different legal mechanism for calling for more funds compared to the European Financial Stability Facility.
It is part-paid shares.
All Eurozone member states – including Croatia – are shareholders in the ESM, and they have subscribed to €708.5 billion of capital and paid in €80.6 billion of that. The guarantee fund is the difference – €627.9 […]
Why the European Financial Stability Facility was downgraded to AA-
Member state guarantees behind the EFSF and the resulting percentage of the EFSF’s bonds that are covered by guarantees of member states with different levels of credit rating
The EFSF’s credit rating was recently lowered to AA-. This is due to the interplay between the credit ratings of the EFSF and of the EFSF’s guarantors, who are thirteen of the twenty Eurozone […]
Remainers admit that Labour’s economic growth plans are pie-in-the-sky
Labour’s plans for the economy
Labour’s plans for growing the UK economy have been highlighted as being based on fresh air by a group of prominent Remainers and Rejoiners:
https://www.theguardian.com/uk-news/article/2024/jun/22/starmer-growth-plan-doomed-access-eu-markets-economists
Their argument is that Labour’s plans for growth are unachievable without a shot-in-the-arm from somewhere. That we can agree on. They contend that rejoining the EU is this definite and required shot-in-the-arm. That statement […]
How the bill of £800bn for Labour’s Net Zero plan was worked out
Headline in the Daily Express of the article in which the £800bn appeared
Labour’s Green Prosperity Plan will be based around Great British Energy, the new entity which will have equity of £1.7bn according to the Fiscal Plan in the Labour manifesto.
Labour were stating until some months ago that they planned to borrow £28bn per annum on the UK national debt over […]
De-coding Rachel Reeves – Labour is the no-risk economic option as the outcome is certain: it’s disaster
Cover of Global Britain paper
Labour’s plans for the economy once they are in power have been dressed up in words like ‘stability’, ‘investment’, and ‘security’. They represent a great leap forward – over the precipice on the edge of which the UK already teeters.
This is laid out in the Global Britain paper ‘De-coding Rachel Reeves – revealing Labour’s real plans for […]
Rachel Reeves – stripping away the jargon: the full analysis of the 2024 Mais Lecture
Analysis of Mais Lecture
Labour is the no-risk economic option as the outcome is certain: it’s disaster.
This is the message of my analysis of Rachel Reeves’ Mais Lecture delivered in March 2024.
The full, final version of this research can be downloaded here.
Now that a General Election has been called, it is of importance that the veil is pulled back on Labour’s intentions, […]