Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

UPDATE 1-German media, lawmakers decry ECB 'blank cheque'
Reuters ^ | 09/07/12

Posted on 09/08/2012 7:52:32 PM PDT by TigerLikesRooster

UPDATE 1-German media, lawmakers decry ECB 'blank cheque'

Fri Sep 7, 2012 7:37am EDT

* Conservative media, some Merkel MPs slam ECB bond-buying plans

* Eurosceptic lawmakers mull fresh legal action

* Merkel allies say ECB acting within mandate

* German public wants to halt bailouts - opinion poll

By Gareth Jones and Stephen Brown

BERLIN, Sept 7 (Reuters) - Germany's conservative press accused the European Central Bank on Friday of writing a "blank cheque" to indebted euro zone states by agreeing to buy their bonds, and some pro-government lawmakers threatened legal action to stop the purchases.

ECB President Mario Draghi unveiled plans on Thursday for potentially unlimited purchases of bonds of up to three years maturity of countries that request a European bailout and fulfil strict policy conditions. The German central bank chief was the sole dissenting voice in the decision.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; Germany; News/Current Events; Russia; United Kingdom
KEYWORDS: bailout; ecb; eu; europeanunion; germany; russia; unitedkingdom
Bibi, please unleash those warplanes on Iran, saving us from the futile task of perpetual bailout. Let them blame you for economic collapse instead of us.


Fed, ECB, Goldman Sachs and many others

1 posted on 09/08/2012 7:52:41 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | View Replies]

To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...


2 posted on 09/08/2012 7:53:52 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

Some people are figuring this out.... now?

“Germany’s conservative press...”


3 posted on 09/08/2012 7:57:41 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL

This is probably the BIGGEST news of the week, and I bet it doesn’t make the front page on the New York Times. Trouble is brewing, and I bet we see a roller coaster market in Europe on Monday.

4 posted on 09/08/2012 8:00:57 PM PDT by rovenstinez
[ Post Reply | Private Reply | To 3 | View Replies]

To: TigerLikesRooster

European Central Bank European Central Bank headquarters
Headquarters Frankfurt am Main, Hesse, Germany
Coordinates 50.1095°N 8.6740°E
Established 1 June 1998

You gotta love it. A mythical BS bank established 1998 is buying insolvent nation’s (Greece etc) bonds with some mythical money that exists on computer hard drives. At least our Fed Reserve has a dubious history going back to 1913.

5 posted on 09/08/2012 8:03:30 PM PDT by dennisw (Government be yo mamma - Re-elect Barack Obama)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rovenstinez

Weren’t the institutional investors cheering? They all smell very short term gains when the printing presses are running at high speeds.

6 posted on 09/08/2012 8:16:26 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
[ Post Reply | Private Reply | To 4 | View Replies]

To: blam; Travis McGee

Wht could possibly go wrong?

7 posted on 09/08/2012 8:20:45 PM PDT by Lurker (Violence is rarely the answer. But when it is it is the only answer.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lurker

Maybe there are some sensible people left in Europe. People are beginning to notice that all the financial gimmicks and bailouts are simply squandering more capital and not correcting the malignant inherent economic problems, behavior and expectations. Will Germany commit economic suicide on behalf of a failing Europe? That is no way to atone for primordial guilt Fraulein Merkel.

8 posted on 09/08/2012 8:39:24 PM PDT by allendale
[ Post Reply | Private Reply | To 7 | View Replies]

To: allendale

My “Fixit” sense are tingling. If the Finns detect that Germany is getting scared, they’ll be gone faster than religious freedom under Obama. This whole structure is ready to come crashing down, and the rich nations do not want to be around when it does.

9 posted on 09/08/2012 9:08:45 PM PDT by Viennacon
[ Post Reply | Private Reply | To 8 | View Replies]

To: TigerLikesRooster

unterirdischern! ARF!

10 posted on 09/09/2012 12:56:05 AM PDT by Axenolith (Government blows, and that which governs least, blows least...)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson