Re: Dialogo reale tra operatori di borsa svoltosi l'11 Luglio...
Inviato da Descartes il 25/9/2008 0:59:55
Citazione:
Se č vero č spaventoso....
Questo l'articolo del FT:
The crucial problem on this side of the Atlantic is that the largest European banks have become not only too big to fail, but also too big to be saved.
For example, the total liabilities of Deutsche Bank (leverage ratio over 50!) amount to about €2,000bn (more than Fannie Mae) or more than 80 per cent of the gross domestic product of Germany. This is simply too much for the Bundesbank or even the German state, given that the German budget is bound by the rules of the European Union’s stability pact and the German government cannot order (unlike the US Treasury) its central bank to issue more currency. Similarly, the total liabilities of Barclays of around £1,300bn (leverage ratio 60!) are roughly equivalent to the GDP of the UK. Fortis bank has a leverage ratio of “only” 33, but its liabilities are three times the GDP of its home country of Belgium.
With banks that have outgrown their home turf, national treasuries and regulators in Europe are living on borrowed time: they cannot simply develop “road maps” (the only result of various Ecofin discussions of regulatory reform by finance ministers), but must contemplate a worst-case scenario.
Given that solutions for the largest institutions can no longer be found at the national level it is apparent that the European Central Bank will need to be put in charge as it is the only institution that can issue unlimited amounts of a global reserve currency. The authorities in the UK and Switzerland – which cannot rely on the ECB – can only pray that no accident happens to the giants they have in their own garden.
fonte: http://pensionpulse.blogspot.com/2008/09/tell-them-they-are-already-on-hook.html
tibberio ha scritto:
Oggi sul FT c“era un articolo (trafiletto in 15ma pagina) sulle piu“grandi banche europee......bene..si asserisce che queste abbiano una leva finanziaria superiore a quella americana!!!!! Invece di 30..... 50 ed addirittura 60!
Quindi aspettiamoci il botto anche in casa nostra.
Se č vero č spaventoso....
Questo l'articolo del FT:
The crucial problem on this side of the Atlantic is that the largest European banks have become not only too big to fail, but also too big to be saved.
For example, the total liabilities of Deutsche Bank (leverage ratio over 50!) amount to about €2,000bn (more than Fannie Mae) or more than 80 per cent of the gross domestic product of Germany. This is simply too much for the Bundesbank or even the German state, given that the German budget is bound by the rules of the European Union’s stability pact and the German government cannot order (unlike the US Treasury) its central bank to issue more currency. Similarly, the total liabilities of Barclays of around £1,300bn (leverage ratio 60!) are roughly equivalent to the GDP of the UK. Fortis bank has a leverage ratio of “only” 33, but its liabilities are three times the GDP of its home country of Belgium.
With banks that have outgrown their home turf, national treasuries and regulators in Europe are living on borrowed time: they cannot simply develop “road maps” (the only result of various Ecofin discussions of regulatory reform by finance ministers), but must contemplate a worst-case scenario.
Given that solutions for the largest institutions can no longer be found at the national level it is apparent that the European Central Bank will need to be put in charge as it is the only institution that can issue unlimited amounts of a global reserve currency. The authorities in the UK and Switzerland – which cannot rely on the ECB – can only pray that no accident happens to the giants they have in their own garden.
fonte: http://pensionpulse.blogspot.com/2008/09/tell-them-they-are-already-on-hook.html
Messaggio orinale: https://old.luogocomune.net/site/newbb/viewtopic.php?forum=46&topic_id=4492&post_id=126543