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By Andrew P. Napolitano
Obama's veil of secrecy is pierced
Topic - European Central Bank
FRANKFURT, Germany (AP) — New figures show that European banks are lending less to companies — another sign the continent's economic upswing remains less than robust.
International use of the euro slipped last year because of the debt crisis in Europe, but the U.S. dollar held its own as the world's leading currency for reserves held by central banks.
Iran held a conference Sunday to reconcile Syria's government with opposition factions and end the country's civil war, the official IRNA news agency reported.
The worst of Europe's financial crisis appears to be over.
Europe's economy is still reeling and unemployment could remain high for years despite the progress made in solving the debt crisis, the European Union warned Wednesday, as it downgraded next year's forecasts for the 27-country bloc.
The European Central Bank’s two former chief economists are criticizing the institution's plan to buy unlimited amounts of government bonds.
Europe's fragile financial calm was shattered Wednesday as investors worried that violent anti-austerity protests in Greece and Spain's debt troubles showed that the region still cannot get a grip on its financial crisis and stabilize its common currency, the euro.
Greece may get more time to cut its budget, its creditors indicated Friday in another sign of increasing flexibility and optimism across the 17 countries that use the euro, while Spain appeared to be inching closer to making a formal request for financial assistance.
European Union officials are asking national governments to give up control of their banks as they try to pull the region closer together to solve its crippling financial crisis.
Central banks are being pressured by their political masters to solve a problem they cannot solve.
Wall Street surged Thursday to multiyear highs after the European Central Bank provided more information about an unlimited bond-buying program that could save troubled countries from leaving the eurozone, possibly preventing another global recession from reaching the U.S.
European Central Bank President Mario Draghi on Thursday unveiled a long-awaited program to buy up bonds and help bring down the borrowing costs of Europe's struggling governments.
The economy continues to drag, and policymakers refuse to do what it takes to restore prosperity. The official unemployment number climbed to 8.3 percent, and the broadest measure of joblessness, known as the U6, increased to 15 percent for July. Economic growth is stalled at 1.5 percent.
The European Central Bank is preparing to unleash its financial might and buy government bonds to help drive down borrowing costs in debt-ridden countries like Spain and Italy, caught in the grip of what president Mario Draghi called a "worsening crisis."
A swing and a miss or more like several at bat were had this week in terms of the central banks. I'm talking about both the Federal Reserve and the European Central Bank (ECB), both of which stand ready to do something, just not yet.