Bruges Group blog on EU breaches of regulation
Published on 18th May 2023
You will have seen that the EU and UK just announced a Memorandum of Understanding on regulatory matters to do with financial services:https://ec.europa.eu/commission/presscorner/detail/en/mex_23_2805The issues in my book – ‘The shadow liabilities of EU Member States, and the threat they pose to global financial stability’ […]
TARGET2 imblances are double what the ECB reports
Published on 12th May 2023
There has been long and ongoing debate about the nature of the sizeable loans and deposits that the Eurozone national central banks (NCBs) run with one another within the TARGET2 payment system. The debate has overlooked that the balances are nearly double what the […]
ECB programmes have created a major risk for Eurozone member states
Published on 11th May 2023
The programmes of the European Central Bank (ECB) are extensive, and involve greater risks than the ECB can bear, it being very thinly capitalized. Even modest losses on its programmes would require it to be recapitalized by its Eurozone shareholders – […]
Net Zero is a perfect cover story for the EIB and EIF
Published on 25th April 2023
Net Zero is proving to be a good cover story for the European Investment Bank Group to create huge financial liabilities for the EU taxpayer. The amount looks set to exceed €1.2 trillion by the end of the current EU […]