Fed’s Brave Steps Contrast with ECB’s Inertia
Some thoughts on today’s FOMC announcement and the contrast it represents to the ECB’s approach to monetary policy.
Fed’s Brave Steps Contrast with ECB’s Inertia Read Post »
Central Banks
How Much Would Ireland Benefit from Replacing the Promissory Notes with a Long-Term Bond?
Lots of people I’ve spoken with about the dreaded Anglo promissory notes are mystified at why the Irish government seems
All You Wanted to Know About TARGET2 But Were Afraid to Ask
I’ve written a new paper on TARGET2. This post introduces and links to the paper.
All You Wanted to Know About TARGET2 But Were Afraid to Ask Read Post »
Two Posts on Banking Union
There have been a lot of debates in recent weeks about how the Euro area’s banking union should work in
Two Posts on Banking Union Read Post »
After Mrs. Merkel’s Irish Jig, Are Ireland’s Problems Solved?
I’ve been very busy lately so I haven’t had much time for blogging. Here is a belated assessment of where
After Mrs. Merkel’s Irish Jig, Are Ireland’s Problems Solved? Read Post »
Draghi Making a Big Mistake on Greek Bonds
After supposedly clarifying their position on equal treatment in relation to their bond purchases, Mario Draghi’s comments on the ECB’s
Draghi Making a Big Mistake on Greek Bonds Read Post »
Trichet Tells CNN: Don’t Publish the ECB’s Secret Letter
The heat seems to increasing on the ECB to release the secret letter to Ireland. In a rare public interview
Trichet Tells CNN: Don’t Publish the ECB’s Secret Letter Read Post »
Note to Republicans: The US Can’t Do a Gold Standard On Its Own
Outside my usual set of topics but apart from enthusiastic goldbug types, I hadn’t seen anyone else discuss the Republican
Note to Republicans: The US Can’t Do a Gold Standard On Its Own Read Post »
ECB Secret Letter to Ireland To Be Released?
Proof perhaps that sometimes even a humble blog post can have some impact, it appears that we have had some
ECB Secret Letter to Ireland To Be Released? Read Post »
The ECB’s Secret Letter to Ireland: Some Questions
By announcing it is only willing to purchase Spanish and Italian government bonds if these governments apply for funding from
The ECB’s Secret Letter to Ireland: Some Questions Read Post »
Is the ECB Risking Insolvency? Does it Matter?
After Mario Draghi’s hints that the ECB is getting ready to purchase large quantities of Spanish and Italian bonds, expect to read
Is the ECB Risking Insolvency? Does it Matter? Read Post »
ECB : We’ll Do What It Takes. Kinda. Sorta. Later.
My thoughts on today’s ECB Governing Council announcements are here.
ECB : We’ll Do What It Takes. Kinda. Sorta. Later. Read Post »
The Secret Tool Draghi Uses to Run Europe
Everyone knows central banks are powerful. When I used to visit Alan Greenspan’s office back when I worked for the
The Secret Tool Draghi Uses to Run Europe Read Post »
Ireland Debt Negotiations: Not About Interest Rate on Promissory Note
The byzantine complexities of the IBRC’s promissory note-emergency liquidity assistance arrangements are such that it is inevitable that even the
Ireland Debt Negotiations: Not About Interest Rate on Promissory Note Read Post »
International Money and Banking
Lecture notes for the University College Dublin module International Money and Banking (ECON30150) which was taught by Professor Karl Whelan
International Money and Banking Read Post »
ECB Makes Crucial Policy Change on Bank Bailouts
The Wall Street Journal is reporting that the ECB has changed its position on the need to protect all senior
ECB Makes Crucial Policy Change on Bank Bailouts Read Post »
New Briefing Paper: Ireland and the ECB
I have written a new briefing paper for the European Parliament’s Economic and Monetary Affairs committee. The paper discusses the
New Briefing Paper: Ireland and the ECB Read Post »
Memo to Draghi: Dead Central Banks Don’t Have Credibility
Mario Draghi today effectively ruled out the idea of ESM getting a banking license. I think this was a very
Memo to Draghi: Dead Central Banks Don’t Have Credibility Read Post »
Time For ECB to Cut Ireland Some Slack?
In this article on Forbes.com, I discuss the possibility of a deal with the ECB on Ireland’s promissory notes in
Time For ECB to Cut Ireland Some Slack? Read Post »
Presentation: Target2 and the Euro Crisis
Yesterday, I gave a presentation on “Target2 and the Euro Crisis” at the Bank of England’s Centre for Central Banking
Presentation: Target2 and the Euro Crisis Read Post »
What Is Ireland’s Bank Debt and What Can Be Done About It?
In both the run up to the referendum and its aftermath, there have been widespread references to something called “Ireland’s
What Is Ireland’s Bank Debt and What Can Be Done About It? Read Post »