For the journalists who read this blog, this BBC opportunity in Belfast may be of interest – details here.
A busy day for our grossly insolvent banks. Anglo has issued a trading update. In addition, the Minister for Finance has obtained direction orders from the High Court for Anglo and INBS to allow for deposits to be transferred and to enable other aspects of the restructuring plans. Nearly identical statements from Department of Finance and NTMA (with an FAQ here.)
Namawinelake has a post today on this topic: you can read it here.
Via the indispensable Eurointelligence, here is yet another astonishing statement by a senior German policymaker (in this case, Axel Weber):
“We have to put into the constitutions of member states a balanced budget rule of (sic) a deficit reduction rule, some way or another.”
Never were Tonto’s words so politically to the point.
Bruegel has issued a new policy brief that carefully quantifies the impact of some approaches to ameliorating debt burdens. You can download it here.