Invisible Eurozone liabilities require action by global financial regulators

TARGET2: scale of invisible Eurozone liabilities demands action by global financial regulators

We recently had a blog published by Politeia about the lack of transparency in the accounting for the debts of EU/Eurozone member states. The member states’ contingent liability to backstop the debts of the EU is an example. Member states also have a contingent […]

Rising Debt, Greater Risk – The EU’s invisible accounting system

The Eurosystem’s balance sheet now shows that its assets of €12 trillion exceed the Eurozone’s 2020 GDP of €11.4 trillion. This is attributable to the emergency response to Covid by the European Central Bank (ECB), who both created the Pandemic Emergency Purchase Programme (the PEPP), extended the programme of unsecured loans to banks called Targeted […]

The Eurozone’s Hidden Debt: A Dangerous legacy of EU governance – Politeia

As Italy’s oldest bank is poised to merge with its second largest, Bob Lyddon considers the failure of Eurozone governance and its potential consequences –   from which the UK is not immune

The UK-EU Withdrawal Agreement (2019) with its Northern Ireland Protocol remains one problematic matter of unfinished Brexit business.  Less widely known is the matter […]

Unicredit capital position before merger with Monte dei Paschi di Siena

It looks likely that Unicredit will be entering into a shotgun wedding with Mone dei Paschi di Siena (MPS). Unicredit will be compelled by the Italian political and monetary authorities to act as a White Knight.

MPS just failed its European Banking Authority Stress Tests but then it has been flat broke for years.

For a putative […]