Lagarde's first speech as ECB head

[McTell]

ECB chief Christine Lagarde speaks of a new order in the world economy at debut speech

European Central Bank President Christine Lagarde called for a new policy mix in Europe on Friday.

www.cnbc.com

Assuming that leaders are paid to lead, this is disappointing.

It comes across as "X, Y and Z are happening to us". It should be "we are at A and we will get to B in a decade, and here's how".

 

[truthisfree]

ECB chief Christine Lagarde speaks of a new order in the world economy at debut speech

European Central Bank President Christine Lagarde called for a new policy mix in Europe on Friday.

www.cnbc.com

Assuming that leaders are paid to lead, this is disappointing.

It comes across as "X, Y and Z are happening to us". It should be "we are at A and we will get to B in a decade, and here's how".

This is exactly the time to be looking at XYZ not the time for projecting into the future.

 

[mr_anderson]

Did she mention Deutsche Bank or Commerzbank ?

In terms of share price, Deutsche Bank stock is down more than 80 percent over a ten-year period, while Commerzbank shares have lost nearly all its value over that period, with shares down nearly 90 percent.

Moody's downgrades outlook for German banking system to negative

Moody's has downgraded its outlook for German banks to "negative" from "stable" as profitability and overall creditworthiness weaken in a low interest rate environment.

www.cnbc.com

 

[Barroso]

Did she mention Deutsche Bank or Commerzbank ?

Moody's downgrades outlook for German banking system to negative

Moody's has downgraded its outlook for German banks to "negative" from "stable" as profitability and overall creditworthiness weaken in a low interest rate environment.

www.cnbc.com

Were they heavily involved in the Dublin finance centre?
I seem to remember comments that the bank guarantee was about keeping German banks' heads above water.

 

[McTell]

Were they heavily involved in the Dublin finance centre?
I seem to remember comments that the bank guarantee was about keeping German banks' heads above water.

Some german deposits were held in the name of irish companies, and so part of lenihan's sell was that he was protecting "Irish depositors".

That said, a "real" irish human depositor has had no return in the past decade. This has an effect on pensions funding. But when they printed money to refloat europe in 2014, it was given to the banks who mostly invested in shares and enriched the rich.

So this time round, a larger money print, but targeted on what will build houses or create jobs. Or green projects. Why tax at 30-40% when a lot of 10-year money can be had for about 0%?

The value of the euro would be supported by slightly high rates, say 2% up, avoiding the negative returns and easing deposits / pensions.

I'm an armchair economist of course, and I realise that instant cash doesn't mean instant houses and PV farms. All the paperwork that slows projects down can be streamlined, if it's not a new concept, just "more of the same".

 

[McTell]

I go along with this guy, but why did it take him a decade to realise what the rest of us could see?

Harsh austerity ‘imposed on Ireland’ by Berlin, says ex-official

Republic caught in crossfire between Germany and other bailout states

www.irishtimes.com

Harsh austerity ‘imposed on Ireland’ by Berlin, says ex-official
Republic caught in crossfire between Germany and other bailout states

 

[blinding]

I go along with this guy, but why did it take him a decade to realise what the rest of us could see?

Harsh austerity ‘imposed on Ireland’ by Berlin, says ex-official

Republic caught in crossfire between Germany and other bailout states

www.irishtimes.com

Harsh austerity ‘imposed on Ireland’ by Berlin, says ex-official
Republic caught in crossfire between Germany and other bailout states

And yet Leo and Co are down on their political knees to the Eu .

 

[YouKnowWhatIMeanLike]

Were they heavily involved in the Dublin finance centre?
I seem to remember comments that the bank guarantee was about keeping German banks' heads above water.

guarantee was mostly to secure US and UK banks, and don't forget the MNC deposits in Irish banks. they had to be protected at any cost.

 

[greencharade]

ECB chief Christine Lagarde speaks of a new order in the world economy at debut speech

European Central Bank President Christine Lagarde called for a new policy mix in Europe on Friday.

www.cnbc.com

Assuming that leaders are paid to lead, this is disappointing.

It comes across as "X, Y and Z are happening to us". It should be "we are at A and we will get to B in a decade, and here's how".

Nothing in there about changing the "Draghi put" i.e. provide as much money as needs from the ECB to keep markets happy.

What I would like some insight on is how much longer stock markets can be inflated by share buybacks funded through cheap money? At what point can such companies not reasonably take on more debt?

 

[blinding]

Did she explain her historical dodgy dealing ?

 

[McTell]

Did she explain her historical dodgy dealing ?

Strikes me she was promoted above her skillset, but handily ticks one of the right boxes, being female.