ECB's balance sheet now > £3 trillion, larger than Fed or BoE

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sasguru replied

13 March 2012, 11:36
There shouldn't have been a single currency.
The consequences of that mistake are plain to see to all but the most ignorant/blinkered/biased.
HTH
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AtW replied

13 March 2012, 11:32
Originally posted by eek View Post

Basically the efficiency and productivity of German factories was not priced into the exchange rates.

How exactly it should have been priced in your view?
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DimPrawn replied

13 March 2012, 11:30
Originally posted by sasguru View Post

It's beyond your intellectual capacity. Concentrate on finding a good MD for your company and improving your product.

WHS.
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sasguru replied

13 March 2012, 11:29
Originally posted by AtW View Post

It's beyond your intellectual capacity. Concentrate on finding a good MD for your company and improving your product.
Leave a comment:
eek replied

13 March 2012, 11:27
Originally posted by AtW View Post

The euro convergence rates were set at such a level that the rest of the euro countries gave Germany a major competitive advantage over locally produced products.

Basically the efficiency and productivity of German factories was not priced into the exchange rates. This has resulted in the rest of the EU being unable to compete against German made products with no means of resolving the issues by devaluing their currency.
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AtW replied

13 March 2012, 11:23
Originally posted by sasguru View Post

Being in the Eurozone is obviously the kiss of death, unless you are Germany who are the only beneficiaries.
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sasguru replied

13 March 2012, 10:42
Originally posted by DimPrawn View Post

No problem.

Germany will sell more luxury cars to China, debt paid off in no time.

BMW Q2 profit soars as Chinese buy luxury | Reuters

Interesting from that article, BMW sales in Turkey grew threefold, probably because of their 11% growth rate.
They must be laughing their heads off at their arch-rivals Greece and the rest of the EU who refused to let them in
Being in the Eurozone is obviously the kiss of death, unless you are Germany who are the only beneficiaries.
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DimPrawn replied

13 March 2012, 10:26
No problem.

Germany will sell more luxury cars to China, debt paid off in no time.

BMW Q2 profit soars as Chinese buy luxury | Reuters
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sasguru started a topic ECB's balance sheet now > £3 trillion, larger than Fed or BoE

13 March 2012, 09:47
ECB's balance sheet now > £3 trillion, larger than Fed or BoE

So after the latest massive QE in Europe the ECB is loaded with bonds from the PIIGS and dodgy banks it has printed money for.
So if there is a default or a large bank failure, it will be left high and dry, with Germany to pick up the bill.
Genius
Flood of Loans Reflects Rising Risk at ECB - WSJ.com
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