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Another box on fiscal multipliers: ECB December Bulletin

See Box 6 in the latest monthly bulletin – here.

Banking Union; Schauble op-ed

FT reports on progress in the banking union talks – here.

Wolfgang Schauble has an op-ed in the WSJ  – here.

Resolving Globally Active, Systemically Important Financial Institutions

This joint FDIC/BoE paper is here.

BIS Quarterly Review, December 2012

available here.

Minister Pat Rabbitte: Ireland won’t pay the 3.1 billion promissory note in March.

Details here. From the piece:

Communications Minister Pat Rabbitte has said that the country will not pay the €3.1bn promissory note for former Anglo Irish Bank when it is due in March.

He told RTÉ’s The Week in Politics that the Government can not pay this “IOU” entered into by the last Government after the collapse of Anglo Irish Bank.

He said the European Central Bank was a difficult institution to “bring around” to stamping the deal Ireland needs on the promissory note.

But Minister Rabbitte said he believes it will happen before the payment is due next March.

Was planning on having an early night, but it’s #twip all the way now.

Your thoughts, most distinguished commenters?