Instead of despair, practical solutions to the Euro crisis | 300 comments (300 topical, editorial, 0 hidden)

Re: Eurobond Vorbei? (4.00 / 2)

Also not all Eurobonds are created equal. The ECB issued ones could still be ok even if the jointly issued ones are out. And if it is legal for the ECB to act as market maker of last resort for state bonds in the secondary market...

by generic on Mon Sep 12th, 2011 at 08:21:23 AM EST
[ Parent ]

Re: Eurobond Vorbei? (none / 1)

But is it legal for the ECB to issue bonds over the objections of the national parliaments? Let's not forget the ECB is owned by the 27 EU National Central Banks and each of these is "owned" by their respective Treasuries who capitalize their Central Banks and receive profits from them.

Economics is politics by other means

by Carrie (migeru at eurotrib dot com) on Mon Sep 12th, 2011 at 08:36:47 AM EST
[ Parent ]

Re: Eurobond Vorbei? (4.00 / 3)

But is it legal for the ECB to issue bonds over the objections of the national parliaments?

Yes.

Central bank independence, remember.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Sep 12th, 2011 at 08:42:46 AM EST
[ Parent ]

Instead of despair, practical solutions to the Euro crisis | 300 comments (300 topical, 0 editorial, 0 hidden)

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