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- Unicredit Bailed Out by Libya
- The Prudent Investor submits: In a bizarre twist of fate, the former Italian colony Libya, once branded a terrorist state by the USA, takes part in bailing out Italy's second largest bank, Unicredit (UNCFF.PK). Reuters quoted Libyan central bank governor Farhat Omar Bin Guidara, who told...
- External links 2008-10-19
- Pay Attention To Indian Silver Buying Spree
- The Prudent Investor submits: The massive correction in silver brings back Indian buyers. According to a Reuters story, Indians also shift to silver as the high silver/gold ratio of 80:1 makes the white metal appear cheaper to its competitor gold. Imports have jumped to 250 tons every...
- External links 2008-10-22
- Lubricated Global Banking Machine Still Sputters
- The Prudent Investor submits: Only 75 minutes after the Federal Open Market Committee (FOMC) slashed Fed Funds half a point to the lowest recorded level of 1%, chairman Ben Bernanke started his money dropping helicopter fleet in order to shower the world with another $120 billion. This...
- External links 2008-10-30
- ECB Balance Sheet Continues to Balloon at Unprecedented Rate
- The Prudent Investor submits: Record lending to troubled Eurozone banks has ballooned the European Central Bank's (ECB) weekly financial statement, a pro forma balance sheet for Europe's biggest fiat money creator, to a never seen before €2.031 trillion as of October 31. To put this mind-boggling...
- External links 2008-11-05
- ECB Offers More Money at Cheaper Prices
- The Prudent Investor submits: Taking advantage of lower commodity and energy prices while facing economic headwinds from a contraction in retail sales, the European Central Bank (ECB) lowered its key refinancing rate another 50 basis points to 3.25%, meeting market expectations. The deposit facility rate was brought...
- External links 2008-11-06
- ECB Adopts New Collateral Guidelines, Leaves Public in Dark
- The Prudent Investor submits: The European Central Bank (ECB) has adopted new guidelines for collateral eligible in its refinancing operations. Having warned of a sinking quality of the ECB's balance sheet in January that were followed by an update of collateral guidelines in September, this move signals...
- External links 2008-11-21
- Eurozone Inflation Plummets to 2.1%; M3 Growth Unchanged at 8.7%
- The Prudent Investor submits: According to a flash estimate of Eurostat statistics office plummeted to 2.1% in November after 3.2% in October. While the flash estimate delivers no details on the price changes in the goods basket, it can be safely assumed that plunging oil prices...
- External links 2008-11-28
- ECB Will Make Money Even Cheaper
- The Prudent Investor submits: Reflecting on the sharp and sudden downturn in most Eurozone countries, the European Central Bank [ECB] can be expected to lower the price of Euros for banks even further after the record rate cut from last Thursday that brought the main refinancing rate...
- External links 2008-12-09
- Austria Projects Mild Recession in 2009
- The Prudent Investor submits: Eurozone member Austria is slipping into a recession these days that will last during 2009, the Austrian central bank said in a press release on Tuesday. Austria has been hit especially hard by economic woes in Eastern Europe, the traditional...
- External links 2008-12-09
- The Market Outlook? Depends Which Business Channel You Watch
- The Prudent Investor submits: Depending on the business TV station that runs in the background, one has every option for the outlook of their choice these days. Among CNBC's talk masters and mistresses, I consider only Rick Santelli a knowledgeable reporter in the good old sense, whereas...
- External links 2009-05-07
- ECB Rate Decision Preview: Hawks Likely to Prevail
- The Prudent Investor submits: The European Central Bank (ECB) is most likely to leave its leading overnight interest rate unchanged at 1.25% at its council meeting later today. There have been lots of sound-bites from various eurozone CB governors in the last two weeks, forcing ECB president...
- External links 2009-05-07
- IMF Chief Says 'Yes - No - Yes' to East European Calamities
- The Prudent Investor submits: Dominique Strauss-Kahn, managing director of the IMF, tried to square the circle at Austria's central bank major annual macroeconomic summit. Depending on the news source, Strauss-Kahn either admitted that the IMF overestimated the problems in Central Eastern Europe (CEE) - or did not....
- External links 2009-05-15
- Pulling Rabbits Out of Its Hat, Austria's Central Bank Writes a Black Zero for 2008
- The Prudent Investor submits: Austria's Central bank Osterreichische Nationalbank OeNB has barely managed to close its profit and loss statement for the year 2008 with a black zero. According to its annual report (PDF) published on Tuesday (I pity journalists who have to make sense of the...
- External links 2009-05-27
- The ECB Shells Out ?1,437 Per Eurozone Citizen to Europe's Banks
- The Prudent Investor submits: If your small-time loan you need for your kid's bracelets is denied by your bank's customer representative, you have every right to go berserk. The European Central Bank (ECB) came up with one of their ominous "innovations" on Wednesday that essentially is nothing...
- External links 2009-06-24
- One Eurozone But Many Sets of Growth and Price / Inflation Data
- The Prudent Investor submits: Preparing this rant about the widening milkyway between Eurozone economic growth and Euro production in the ECB and its printing presses spread evenly amongst Euro members proves one more time that the absoluteness of financial math and official figures are 2 pairs of...
- External links 2009-06-29
- OECD Gives Austria Good Marks but Warns of Deterioration
- The Prudent Investor submits: One can literally feel a breathe of relief that blew some fresh air in the Vienna city, three square kilometres densely packed with the executive offices for Austria's financial and economic upper crust. The Angst about more criticism on Austria's economic...
- External links 2009-07-02
- European Credit Rankings: No Up-Trend to Be Found
- The Prudent Investor submits: Catch this graph of brand new credit rankings by European credit insurer Coface: Stable at lower levels at best, no positive outlook anywhere. This chart is from the Austrian daily Der Standard. click to enlargeGRAPH: European map by credit rankings. The eventual bottoming...
- External links 2009-07-09
- Austria's Bond Issuer Agency Piles Up SIV Losses
- The Prudent Investor submits: Austria's series of bad headlines refuses to stop. According to a paper by the Rechnungshof, literally Austria's General Accounting Office, Federal Financing Agency OeBFA sits on 1.8% of all issued US Structured Investment Vehicles (SIV), counting so far €616 million of losses on...
- External links 2009-07-15
- The Numbers Are Too Big: IMF Research on Euro Policy Without a Single Absolute Figure
- The Prudent Investor submits: On Tuesday the IMF published a research paper that states "Euro Area Monetary Policy in Uncharted Waters". It is time to ring the bell for the Euro system when the IMF manages to publish a 36-page paper without a single absolute € figure...
- External links 2009-09-01
- ECB Does Nothing, Indicates Monetary Tightening
- The Prudent Investor submits: Leaving its key interest rate unchanged at 1% on Thursday, the European Central Bank (ECB) appears to remain in standby mode, keeping financial institutions flush with cheap liquidity. The only new twist in President Jean-Claude Trichet's repetitive flood of calming words came in...
- External links 2009-11-05
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