DislikedJust read the following and was interested in fti's comments:
http://www.spiegel.de/international/...817730,00.html
I'm kind of stunned by this, and wonder how the ECB will ever unwind it, but more to the point, am suspicious that this is being done intentionally to force fiscal union throughout the EZ.Ignored
![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
The ECB is just doing her function as lender of last resorts to banks.
If she so wants to open her window for banks approach for cheap funds, is her rights do so.
The ECB is the CB for 27 countries, so i will not need highlight about the due deligence that they will have regarding the ops.
So far the ECB had not switched on her printing. So all the moneys comes from her resources from the member countries. So long as is not printing to lend, then that should be viewed only as her performing her day to day functions as her management deems required.
On, if the banks are getting addicted to cheap funds, thats matters for they respective banks treasurys and executive boards to decide, as is their business affairs and in their own interest.
Whats most significant is yesterday's German approval of the 2nd bail. Which now sets track record and presidence that Germany will utilise her trade surplus resources as lifeline for greece.
Seems Germany is insistant and determined to keep Euro alive and sacrificing her surpluses resources and reserves to this end.
your suspicions not unfounded.Is well known fact that they had declared to force the union stay valid, even resorting to treaty and terms change to facilitate the process. Is their choice and destiny.
regards
For our trading, so long as they not printing as source of funding, we need accept that they refuse to devalue. What ever they decide we respond to the situation. If they blunder then we need make haste, aligning our positions accordingly.