jeudi 29 novembre 2012

It won't happen... These are Bloomberg's "When did the European Central Bank learn that Greece was concealing the catastrophic extent of its debts? And what did it know about the quality of the collateral the Greek government used to secure loans from the bank?"
The Greek situation should have lead to a broad inquiry, the EU parliament should have subpoenaed the Commission's members and many in the Brussels administration as well as the ECB board members ....
But it didn't happened, and it won't, given the muppet show the EU parliament is right now, its powers and the type of politics going on there. You can't have a worse situation, a small number of individuals making decisions on a budget of more than 150 billions euros of tax money hardly controlled by a weak parliament with very little powers that can't investigate and subpoenaed anybody in the executive branch and administration while state members are shy to give the parliament any more powers. A recipe for a disaster and the ECB exemptions from disclosures is adding to the outrage.
ECB Exemption From Disclosures Is Bad for Euro

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