WarGames: Chicken-Race mellan Berlin och Frankfurt - “The central bank equivalent of nuclear deterrence: defy us and we will blow up the world”
För en tid sedan skrev jag på denna blog om att Jean-Claude Trichet, ECB, och Dr Weidmann, Bundesbank, har varnat politikerna för de minsta steg mot en grekisk “restructuring”, dagens eufemism för betalningsinställelse eller statsbankrutt.
Då skulle ECB, skriver Atkins “cut Greek banks off from its lifesaving liquidity supply, triggering a financial collapse that would push the country’s economy into the abyss”.
Det är, skriver han, “the central bank equivalent of nuclear deterrence: defy us and we will blow up the world”.
I dag fredagen den 10 juni 2011 höjde båda sider insatserna för att övertyga den andre att det är den andre som måste svänga först
.
“We have to insist on the participation of the private sector,”, German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin today.
Neither Frankfurt nor Berlin is backing down. On Friday, Germany's parliament approved a motion that private bond holders and the IMF bear partial responsibility for any further aid to Greece, putting more pressure on Chancellor Angela Merkel's government to pursue the very measures that Mr. Stark /tysk ledamot av ECB:s styrelse/ resists.
Mr. Stark didn't specifically address Mr. Schäuble's position. But he warned government officials not to assume that the ECB would continue to support Greek banks in the event of a restructuring.
Such a scenario "prevents us from continuing to accept Greek bonds as collateral," Mr. Stark said, advising officials to "know what they're talking about" when it comes to the implications of a Greek restructuring.
De är klart att det är spännande. Men det var ganska spännande även under det kalla kriget om det skulle bli kärnvapenkrig eller inte. Ni kommer väl ihåg filmen WarGames från 1983 när den unge hjälten vid sin dator får uppmaningen "Let's play Global Thermonuclear War".
Då skulle ECB, skriver Atkins “cut Greek banks off from its lifesaving liquidity supply, triggering a financial collapse that would push the country’s economy into the abyss”.
Det är, skriver han, “the central bank equivalent of nuclear deterrence: defy us and we will blow up the world”.
I dag fredagen den 10 juni 2011 höjde båda sider insatserna för att övertyga den andre att det är den andre som måste svänga först
.
“We have to insist on the participation of the private sector,”, German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin today.
Neither Frankfurt nor Berlin is backing down. On Friday, Germany's parliament approved a motion that private bond holders and the IMF bear partial responsibility for any further aid to Greece, putting more pressure on Chancellor Angela Merkel's government to pursue the very measures that Mr. Stark /tysk ledamot av ECB:s styrelse/ resists.
Mr. Stark didn't specifically address Mr. Schäuble's position. But he warned government officials not to assume that the ECB would continue to support Greek banks in the event of a restructuring.
Such a scenario "prevents us from continuing to accept Greek bonds as collateral," Mr. Stark said, advising officials to "know what they're talking about" when it comes to the implications of a Greek restructuring.
De är klart att det är spännande. Men det var ganska spännande även under det kalla kriget om det skulle bli kärnvapenkrig eller inte. Ni kommer väl ihåg filmen WarGames från 1983 när den unge hjälten vid sin dator får uppmaningen "Let's play Global Thermonuclear War".
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