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overtheedge
Member since May 2012
680 commentaries - 6 followers

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German Officials Liken EU Banking Power Proposal to "Nazi Enabling Acts"; What Germany Can Expect; W - Mish - Global Economic Analysis

"... cites support from lawyers at the commission ..."

"... and did so only because it was the most legally solid and effective institution to handle bank crises under existing EU treaties."

"Europe cannot afford to wait for treaty change".

1. What did Shakespeare say about lawyers?
2. Effective at bank crisis management? Please cite one example of a success story. Iceland doesn't count because they said, "No thanks" to your help.
3. A genuine snake oil salesman. The reality is Europe can not afford Europe.

I am a bit curious as to just how much additional income each of the EU countries netted out by this grand EU experiment.

Note to Germany: All that balance you have in TARGET2 needs to be settled quickly. Might I suggest a 3 for 1 sale. Sell the balance at 66% off for physical PMs delivered. Why does it take 7 years to return what you entrusted to the US? Ergo, 33 pfennings on the mark is better than nothing. Get my drift there, partner?

Commented 4143 days ago

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Beginning of the headline :In June, an EU commission put forth a banking resolution proposal giving itself powers in which the ability to shut down banks would be centralised in the European Commission. Brussels would have the clout to overrule the bank’s home country and use funds from a central pot. Specifically, the commission proposed the resolution authority to “be equipped with a single bank resolution fund”. The fund would have the power to borrow from markets, using the “assets of euro area banks” as a guarantee... Read More

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