Tag: Promissory Notes
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the €31b question
So another day and more discussion on will we/wont we get a deal on the Anglo Irish Promissory Notes…. What do you think? Here is a short poll, I will leave it open until 1700h today. I define “meaningful” as a deal that will at the very least allow the state to save €1b or…
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The Fiscal Compact, LTRO and sovereign debt
This post is a longer version of an oped published in the Irish Examiner Saturday 3 March 2012 So, another European referendum looms, with all that heat and lack of light that we can expect based on previous referenda. Expect the arguments from the no side over the months ahead, to revolve around septic tanks,…
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Fiscal Compact Referendum : why I am voting “maybe”….
A number of people over the last while asked me how I intend to vote in the forthcoming referendum on the fiscal compact. At the moment I am firmly in the I don’t know camp. I have previously blogged and written about my concerns regarding the fiscal compact. I think we’re being asked to sign up for…
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Presentation to the Oireachtas Committee on Finance 15Feb2012
Below is a version of the written presentation I circulated to members of the Oireachtas Committee on Finance at our discussions today on ELA and Promissory Notes. ELA is money. It is not a bond. Dealing with ELA does not involve dealing with bondholder although the money so created was used to redeem (pay off)…
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The fiscal compact: maybe inevitable, hardly sensible
This is an extended version of a column published in the Irish Examiner, Saturday 4 Feb 2012. http://www.examiner.ie/business/business-features/with-our-fiscal-policies-is-the-compact-right-for-ireland-182591.html The fiscal compact that we have now seen agreed to, the Not Quite an EU treaty as it has been termed, is a curates egg. At one level, like mom, apple pie, puppies and sunshine, its hard…
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Understanding Central Banks….
The crisis has shown us that the role of the Central Bank has rarely been more central to global economic welfare. Calls for more, or less, or faster or slower money growth, for new rounds of quantitative easing, for enhancement of the role of Central Banks as lenders of last resort (but to whom?), discussions on the desirable or…