| Dear reader, | ||||
| German econ professor and director of German Ifo think tank. Hans-Werner Sinn has sparked a debate first in Germany and now reaching far beyond about the problems arising or just not within the imbalances of the ECB central bank clearing system. In order to give a broad range of facts and opinions here is a collection of articles: Interpreting TARGET2 balances (BIS) Working Papers No 393 December 2012 |
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| Ifo Working Paper No. 105 (ger) | ||||
| ifo Spezialthema: Target-Salden (ger) | ||||
| charts: Target balances jan 1999 (2007) - jan 2012 of central banks (ger) | ||||
| ECB: Target2 | ||||
| Irish CB: Information guide for Target2 users (pdf) | ||||
| Bundesbank: TARGET2reasons for introduction # (pdf) | ||||
| 19 November 2007 - TARGET2successfully launched | ||||
| TARGET (Wiki) | ||||
| Apr | 3rd | 2012 | Target2 debate, Part II | |
| Apr | 3rd | 2012 | Why is there no TARGET2 debate in the US? | |
| Mar | 31st | 2012 | # | Credit risk dispute: "Germany can be blackmailed" #(sueddeutsche) |
| Mar | 23rd | 2012 | # | "Bundesbank belittles a financial atomic bomb" #(Die Welt) |
| Mar | 14th | 2012 | # | How a justified criticism of Target2 could look like #(Kantoos Economics) |
| Mar | 13th | 2012 | # | Olaf Storbeck: The U-turn which wasn't one-The BuBa and Target2 #(Handelsblatt) |
| Mar | 13th | 2012 | Soaring Target2 Imbalances Stoke German Risk Angst: Euro Credit *B | |
| Mar | 12th | 2012 | # | Jens Weidmann (Bundesbank): What's behind the Target2 balances #(FAZ)*A |
| Mar | 12th | 2012 | # | Target2: and what's really behind it #(Handelsblatt) |
| Mar | 12th | 2012 | # | Bundesbank goes on the offensive in Target debate #(FAZ) |
| Mar | 10th | 2012 | # | Ex-BuBa pres. Schlesinger:"ECB flooding reminds one of war financing"#(Die Welt)*3 |
| Mar | 10th | 2012 | # | HW Sinn: Fed versus ECB: How Target debts can be repaid #(voxeu)*8 |
| Mar | 9th | 2012 | # | Why it makes sense (Sinn) to think about Target2 #(blog.insm)*9 |
| Mar | 8th | 2012 | # | Mar 08th 2012 Can a relocation of collateral within ECBS make sense? #(Handelsblatt) *7 |
| Mar | 7th | 2012 | # | Wolfgang Münchau. This way it makes Sense(Sinn) #(Der Spiegel) *3 |
| Mar | 7th | 2012 | Collateral is key for target debate (bruegel) *2 | |
| Mar | 7th | 2012 | # | Target2 deficits: Why thecurrent account is not important # (Handelsblatt) |
| Mar | 7th | 2012 | Target 2 of the ECB vs. Interdistrict Settlement Account of the Federal Reserve*1 | |
| Mar | 7th | 2012 | German newspaper 'Die Zeit':ECB refuses Target2 reform #(Saarbrücker Zeitung) | |
| Mar | 7th | 2012 | # | Draghi & Weidmann: Central bankers as pen pals #(FTD) |
| Mar | 7th | 2012 | TARGET imbalances: Financing the capital-account reversal in Europe (voxeu) | |
| Mar | 6th | 2012 | Is Jens Weidmann Right About Bundesbank Target2 Risks? (creditwritedowns) | |
| Mar | 6th | 2012 | # | Blog entry by HW Sinn - answer to blog entry by Mr Sievert #(wirtsch.Freiheit) *6 |
| Mar | 3rd | 2012 | # | Blog entry by Olaf Sievert - open letter to HW Sinn #(wirtsch. Freiheit) *6 |
| Mar | 3rd | 2012 | # | HW Sinn: The pighead among professors of economy #(FAZ) |
| Mar | 3rd | 2012 | Euro-Zone Central Bank System Massively Imbalanced | |
| Mar | 2nd | 2012 | Pimco:TARGET2: A Channel for Europe’s Capital Flight | |
| Mar | 2nd | 2012 | # | Target2 US edition #(blog.zeit.de) |
| Mar | 2nd | 2012 | Bundesbank: Balances in the TARGET2Payments System – a Problem? (pdf) *5 | |
| Mar | 2nd | 2012 | Jean Pisani-Ferry: Don’t confuse symptom and disease! | |
| Mar | 2nd | 2012 | Weidmann’s ECB agitation more dangerous than Weber | |
| Mar | 1st | 2012 | # | The problem of the Target2 balances #(FAZ) |
| Mar | 1st | 2012 | Bundesbank lectures ECB | |
| Mar | 1st | 2012 | # | Bundesbank demands better collateral from ECB #(FAZ) |
| Mar | 1st | 2012 | What is the meaning of TARGET balances? | |
| Mar | 1st | 2012 | # | Bundesbank goes bananas ? #(Die Zeit) |
| Mar | 1st | 2012 | Disquiet within ECB laid bare after cash injection | |
| Feb | 29th | 2012 | # | Eurocrisis: The cloc is ticking # (Die Presse/at) |
| Feb | 27th | 2012 | # | Top economist Hans-Werner Sinn and the billion € bomb #(Der Spiegel) |
| Feb | 26th | 2012 | # | Hans-Werner Sinn: FED vs ECB How to satisfy a Target debt # (FAZ) *4 |
| Feb | 26h | 2012 | # | Is the ECB financing current account deficits ? (blog.zeit.de) |
| Feb | 18th | 2012 | # | Interview: Economist Hans-Werner Sinn: "We are trapped" #(FAZ) |
| Feb | 1st | 2012 | Bundesbank sinks deeper into debt saving Europe | |
| Jan | 18th | 2012 | # | Wolfgang Münchau: We're fighting the wrong crisis #(Der Spiegel) |
| Jan | 9th | 2012 | Martin Wolf:The delicate balance of fixing the eurozone | |
| Dec | 11th | 2011 | The fuss about TARGET2 | |
| Dec | 8th | 2011 | How German taxpayers prop up Italy | |
| Dec | 6th | 2011 | Karl Whelan: Worse than Sinn | |
| Dec | 6th | 2011 | Izabella Kaminska: How Germany is paying for the Eurozone crisis anyway | |
| Dec | 6th | 2011 | Eurozone Crisis, Act Two: Has the Bundesbank reached its limit? (VoxEU) | |
| Oct | 14th | 2011 | Target2debate – The ECB finally gets involved | |
| Oct | 13th | 2011 | # | ECB dissents Sinn on Target2 #(Handelsblatt) |
| Sep | 6th | 2011 | Making sense of Target imbalances new | |
| Aug | 31st | 2011 | # | The European payment balance crisis # (Ifo Schnelldienst) pdf 100pages |
| Jun | 16th | 2011 | # | Hans-Werner Sinn, Target 2 and no end #(Die Zeit) |
| Jun | 14th | 2011 | # | Hans-Werner Sinn and the demagogy #(Handelsblatt) |
| Jun | 10th | 2011 | The ECB’s Target2activities are not constraining German credit growth | |
| Jun | 9th | 2011 | Professor Sinn misses the target | |
| Jun | 9th | 2011 | Buiter,Rahbari,Michels:Target2and intra-Eurosystem imbalances in credit flow (pdf) | |
| Jun | 9th | 2011 | The ECB is not conducting a stealth bailout | |
| Jun | 1st | 2011 | Felix Salmon: How Europe’s central banks are staving off catastrophe | |
| May | 19th | 2011 | ECB publishes TARGET Annual Report 2010: the system functioned smoothly and registered a higher turnover new | |
| Feb | 18th | 2011 | # | Sinn: Criticism on Bundesbank crisis help #(WiWo) |
| # = German language | ||||
| *1 = via @lostgen | ||||
| *2 = via @SonyKapoor | ||||
| *3 = via @Tiefseher | ||||
| *4 = via @Econgirl | ||||
| *5 = via @Alea | ||||
| *6 = via @SZ_Wirtschaft | ||||
| *7 = via @Olaf_Storbeck | ||||
| *8 = via @eparisicapone | ||||
| *9 = via @insm | ||||
| *A = via @FAZ_Wirtschaft | ||||
| *B = via @izakaminska | ||||
| A comment by the blog-author on this subject is available here | ||||
| Mar 4th: Comments by readers are welcomed and link suggestions being checked and considered to be added in the list above. |
Thursday, March 1, 2012
Bundesbank ECB - Target2 - facts and discussion, last upd:2012/4/13
Tuesday, February 28, 2012
Greece: Default or no default ?
Eurozone and Democracy
Dear reader,
since 2010 the eurozone is not only facing epic risks but also huge challenges to its democratic procedures in order to stay afloat. Often dramatic and very quick decisions had to be made by legislators in individual countries as well as on 'top level' by summits of governments. In order to keep track of some of the effects on democratic procedures on different levels there will be a compilation of such items here in this blog entry. Starting with latest German constitutional court ruling on a planned 'mini committee' within German parliament to decide on future financial involvements in e.g. EFSF and ESM. (As always starting with a triggering event followed by later additions to the topic in some updates)
Apr 21st 2012 The people are becoming a nuisance #(Berliner Zeitung)
Mar 27th 2012 Gilmore announces referendum date
Mar 27th 2012 Germany and Europe: Testing the limits
Feb 28th 2012 German Law German high court calls for more parliament in bailout decisions
Feb 28th 2012 Referendum to be held on Fiscal Treaty
# German language
since 2010 the eurozone is not only facing epic risks but also huge challenges to its democratic procedures in order to stay afloat. Often dramatic and very quick decisions had to be made by legislators in individual countries as well as on 'top level' by summits of governments. In order to keep track of some of the effects on democratic procedures on different levels there will be a compilation of such items here in this blog entry. Starting with latest German constitutional court ruling on a planned 'mini committee' within German parliament to decide on future financial involvements in e.g. EFSF and ESM. (As always starting with a triggering event followed by later additions to the topic in some updates)
Apr 21st 2012 The people are becoming a nuisance #(Berliner Zeitung)
Mar 27th 2012 Gilmore announces referendum date
Mar 27th 2012 Germany and Europe: Testing the limits
Feb 28th 2012 German Law German high court calls for more parliament in bailout decisions
Feb 28th 2012 Referendum to be held on Fiscal Treaty
# German language
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