Weber Draws Battle Lines As Pressure Mounts On ECB - By Simon Kennedy (7/5/10) PDF Print E-mail
Simon Kennedy   
Friday, 07 May 2010 08:49

Bloomberg

Bundesbank President Axel Weber fired the first shot in a brewing debate over how far the European Central Bank should go to defend the euro.

As the single currency plunged yesterday, Weber said the threat of contagion from Greece’s fiscal crisis doesn’t merit “using every means,” rebuffing calls for the ECB to consider buying government bonds. The central bank’s Governing Council meets today in Lisbon, the latest capital to be hit by the fiscal meltdown that’s shaking the foundations of Europe’s monetary union.

ECB President Jean-Claude Trichet is under pressure to do more to calm markets after the pledge of a 110 billion-euro ($142 billion) bailout for Greece from euro-area countries and the International Monetary Fund failed to assuage investors’ concerns. While Weber’s comments suggest he won’t agree to asset purchases, some economists said that remains an option if the crisis worsens. The ECB could also reverse the withdrawal of emergency lending measures used to fight last year’s recession and dilute collateral rules further.



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Asia Should Consider Capital Controls, UN Agency Says - By Shamim Adam and Dan Ten Kate (7/5/10) PDF Print E-mail
Shamim Adam and Dan Ten Kate   
Friday, 07 May 2010 08:45

Bloomberg

Asian nations should increasingly consider capital controls in their “policy toolkit” to manage inflows that are fueling inflation and creating asset bubbles, a United Nations agency said today.     “The main short-term threat to growth in Asia and the Pacific is the return of inflationary pressures as recovery gathers steam,” fuelled in part by an influx of money from outside the region, the Bangkok-based agency said in a report today. A stronger yuan “could be critically important” for boosting Chinese demand as traditional export markets in developed nations are slow to recover, the agency also said.

Taxes or deposit requirements may make it more expensive for global investors to buy Asian stocks, bonds and currencies, even as they help authorities damp surging asset prices. Brazil imposed a levy last year, Taiwan central bank Governor Perng Fai-nan said this week emerging markets should consider limits and Indonesia has studied the issue.



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MUST-WATCH VIDEO: Gerald Celente On Greece: People Will Rise Against Bank Bailouts Globally - Russia Today (7/5/10) PDF Print E-mail
Posted by Administrator   
Thursday, 06 May 2010 23:40



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Disclosure In The Precious Metals Puzzle Palace - By Catherine Austin Fitts and Carolyn Betts (6/5/10) PDF Print E-mail
Catherine Austin Fitts and Carolyn Betts   
Thursday, 06 May 2010 10:25

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Ahmadinejad Speech At UN Nuclear Conference (6/5/10) PDF Print E-mail
Administrator   
Thursday, 06 May 2010 10:23

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