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The wild hog and the cucumber troops | 19 comments (19 topical, 0 editorial, 0 hidden)
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  • Apparently, there is also a proposal of a bank tax that is separate from the financial transfer tax, on which there was consensus at the Council.

  • All the articles I read claim that the institutions really threatened are not the big banks but the savings banks, which won't be exposed in the stress tests.

  • In Austria as well as Germany, it is claimed that Merkel was for the publication from the start, and the one against it until the bitter end was Austria's PM, with the argument that the publication of worst-case scenarios considered in the stress tests, which escalated over the last two years, will only scare markets even more.

  • Merkel is quoted with explicit formulations in her post-summit declarations:

"Ich bin für größtmögliche Transparenz", betonte Bundeskanzlerin Angela Merkel nach dem Gipfel. ..."Ich kann mich der Kritik des Bankenverbandes nicht anschließen", betonte Merkel. "Stresstests machen keinen Sinn, wenn die Ergebnisse in der Schublade verschwinden. Wenn es dagegen Transparenz gibt, dann entstehen keine Gerüchte und keine Undurchsichtigkeiten. Da kann man dann besser reagieren.""I am for the maximum possible transparency", federal chancellor Angela Merkel said after the summit. ..."I cannot go along with the criticism of the [German] bankers' Association", Merkel emphasized. "Stress tests make no sense if the results disappear in the drawer. However, if there is transparency, then no rumours and opaqueness will emerge. Then one can govern better."


*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Thu Jun 17th, 2010 at 05:36:28 PM EST
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The wild hog and the cucumber troops | 19 comments (19 topical, 0 editorial, 0 hidden)
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