(i) Twiterrak
Ashoka Mody(e)k Bertxiotua Ramanan
So Draghi is warning Italy to not leave the eurozone because it will have to pay the ECB? Is that a threat or an incentive to leave?
Ashoka Mody(e)k gehitu du,
Any country leaving euro zone must settle bill first: ECB’s Draghi http://reut.rs/2j3bbsq via @Reuters
2017 urt. 21
(ii) Reuters: Any country leaving euro zone must settle bill first: ECB’s Draghi
(a) Draghi-k esandakoa:
Any country leaving the euro zone would need to settle its claims or debts with the bloc’s payments system before severing ties, European Central Bank President Mario Draghi said.
(b) Italia, Brexit,… eta Eurexit?:
The comment – a rare reference by Draghi to the possibility of the currency zone losing members – came in a letter to two Italian lawmakers in the European Parliament released on Friday.
It coincides with a groundswell of anti-euro sentiment in Italy and other euro zone states, fueled in part by last June’s unprecedented decision by Britain to leave the European Union.
(c) Draghi-k hitzez hitz:
“If a country were to leave the Eurosystem, its national central bank’s claims on or liabilities to the ECB would need to be settled in full,” Draghi said in the letter.
(d) Italiaren kasuan:
Based on data to end-November from the Target 2 payment system, that would leave Italy with a 358.6 billion euro ($383.1 billion) bill. The system records flows of payments between euro zone countries.
(e) Mehatxua?:
The threat of defaults on cross-border debts has often been credited as one element keeping the euro zone together throughout the financial crisis.
(f) Italia, Espainia, Grezia eta… Alemania:
As these payments are not generally settled, weaker economies including Italy, Spain and Greece have accumulated huge liabilities towards Target 2 while Germany stands out as the biggest creditor with net claims of 754.1 billion3 euros.
Target 2 imbalances have worsened in recent months, with Harvard economist Carmen Reinhart warning of capital flight from Italy.
Antzeko artikulu batean4, ondoko irudia azaltzen da:
Eta honela segitzen du ondoko oharrean5:
…not only has Draghi confirmed that an exit from the Eurozone has been explicitly modeled by the central bank, but also lays out the conditions under which it would be considered and permitted.
(g) EBZ, desorekak eta bonoen erosketa programa:
In the letter, Draghi reiterated that the imbalances were due to the ECB’s own bond buying-program, where many of the sellers are foreign investors with accounts in Germany, and ensuing portfolio rebalancing.
(iii) Warren Mosler-en iritzia: twitterrak
Clonal Antibody @ClonalAntibody
@wbmosler Your opinion?
@ClonalAntibody @zerohedge The banks are privately owned ecb members independent of govs so it comes down to deposit insurance/bail ins etc.
2017 urt. 21
3 Bilioi amerikar bat = 1000 milioi europar.
4 Ikus In Stunning Admission, Draghi Says A Country Can Leave Eurozone But Must “Settle Bill First”: http://www.zerohedge.com/news/2017-01-21/stunning-admission-draghi-says-country-can-leave-eurozone-must-settle-its-bill-first.
5 Ingelesez: “Draghi’s admission, which is meant as a quasi-threat to Italy, may have opened up a whole new can of worms for European stability in addition to concerns about Trump, because not only has Draghi confirmed that an exit from the Eurozone has been explicitly modeled by the central bank, but also lays out the conditions under which it would be considered and permitted.
More importantly, it also once again provides the basis for an aggressive “negotiation”, potentially escalating to rancorous bargaining between Italy and Germany, as suddenly the ECB has made it clear that Italy’s gain in a “hypothetical” Euro zone exit would be a tremendous loss for Berlin and Merkel. We are confident that the question of “how much” preventing such a loss would be worth to Merkel, will emerge in very short order. As for what Draghi’s statement means for countries with a far smaller Target2 liability which may also consider exiting the monetary union, the answer is two words: “green light.“
