“Last year, the ECB supported ailing Greece for months, because the EU couldn’t agree on a bailout package for so long. It recently looked the other way when the Irish central bank came to the aid of a bank, and the prohibition on directly funding public budgets was cunningly circumvented. If the ECB were now forced to help an Italian government that is unwilling to institute reforms, its credibility would be destroyed once and for all. Many central bankers are no longer willing to cooperate with the lawmakers behind Europe’s rescue programs.”
Related posts:
Anti-China riots in Vietnam ease after 1,400 protesters arrested
JPMorgan Chase stops trading 'non-financial' commodities amid federal pressure
Hong Kong Brokers Drive Cabs as Competition Forces Locals Out [2013]
UK moves forward with three-parent IVF treatment
Shootings by Philly police soar as violent crime plummets
China's planned crude oil futures may be priced in yuan
Treasury announces GM exit strategy; automaker buying 200 million shares from U.S.
Baton Rouge merchants now accepting Bitcoin for payment
Chinese airline passengers face worst travel delays
Web Pioneer Marc Andreessen Keeps Faith, and Cash, in Bitcoin
Bumpy year drags U.S. IPO listings back to 2009 levels
U.S., French tax laws cause concern for expats of Switzerland
Japanese university to retract Novartis study based on fabricated data
Photo ID now needed to buy hair bleach under European anti-terror laws
Officer Convicted In Shooting Death Becomes Police Chief