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Thread: Another one to watch

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    GRG55's Avatar
    GRG55 is online now iTulip High Commissioner, Select Premium Member, Canada and Persian Gulf
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    Default Re: Another one to watch

    We seem to be heading beyond hairline cracks now.
    We should see the Euro take another drop against the US$.

    https://www.nasdaq.com/articles/excl...ces-2020-05-26

    EXCLUSIVE-ECB prepares for the worst: life without the Bundesbank - sources


    FRANKFURT, May 26 (Reuters) - The European Central Bank (ECB) is drafting contingency plans to carry out its multi-trillion bond-buying programme without the Bundesbank in case Germany's top court forces the main participant in the scheme to quit, four sources told Reuters.

    In this worst-case scenario, the ECB would launch an unprecedented legal action against the German central bank, its biggest shareholder, to bring it back into the programme, said the sources, who spoke on condition of anonymity.

    The moves would likely mark a moment of truth for the euro, testing Germany's commitment to a currency it played the biggest role in creating and forcing it to tackle some deep-seated reservations within the country about ECB policies.

    Germany's constitutional court has given the ECB until early August to justify its massive buying of government bonds or continue the scheme without the Bundesbank, which is supposed to carry out more than a quarter of the bond purchases.
    Last edited by GRG55; 05-26-20 at 08:29 PM.

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