• strict warning: Non-static method view::load() should not be called statically in /home/asymptot/public_html/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home/asymptot/public_html/modules/views/handlers/views_handler_argument.inc on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home/asymptot/public_html/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home/asymptot/public_html/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home/asymptot/public_html/modules/views/modules/node/views_handler_filter_node_status.inc on line 14.
  • strict warning: Non-static method view::load() should not be called statically in /home/asymptot/public_html/modules/views/views.module on line 879.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home/asymptot/public_html/modules/views/plugins/views_plugin_style_default.inc on line 25.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home/asymptot/public_html/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home/asymptot/public_html/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home/asymptot/public_html/modules/views/views.module on line 879.

The Bundesbank: ECB massively exceeds its mandate

It's no secret that the Germans are negative to further financial support of the weak euro countries. Germany's current strategy is inaction to the calls of introducing Eurobonds or Germany to leave the Euro. What they dread is the other option - that a weak country would leave the euro and its implications on... Germany.

Barry Eichengreen: Europe on the Verge of a Political Breakdown

Jean-Claude Trichet, the president of the European Central Bank, has called for stricter budgetary rules. Mario Draghi, head of the Bank of Italy and Trichet’s anointed successor at the ECB, has called for binding limits not on just budgets but also on a host of other national economic policies. Guy Verhofstadt, leader of the Alliance of Liberals and Democrats for Europe in the European Parliament, is only one in a growing chorus of voices calling for the creation of Eurobonds. Germany’s finance minister, Wolfgang Schäuble, has suggested that Europe needs to move to full fiscal union.


A set of references to the nascent European Monetary Fund are below

(but we @ asymptotix think that we thought of it 1st) - see the link to the ESB proposal below

UL icons asymptotix 2



"European Monetary Fund"

$229 Billion in New Greek Aid

EU leaders look to expanded bailout fund to stave off crisis

European debt crisis: As it happened

Sarkozy's take on debt crisis

That eurozone summit draft - annotated

Eurozone debt crisis summit: as it happened




Let me summarise what is going on here on this page, above is the Euro Summit of summer 2011; Merkozy-sphere; Van Rompuy & Barosso are the puppets; here is how the process works; Lunatix2 ; the EMF or ESB idea is progressing through the DYSFUNCTIONAL GROUNDHOG SUMMITRY of the 2010 - 2012 period, announcements at 5am - thing! The initial partial proposal of summer 2010 is below with an explanation [allegedly] of why that proposal was so over complex and half baked & some links to further contempraneous analysis. The summits of 2012 are opaque to say the least; we still have van Rompuy the Harlequin announcing 'peace with honour' but we don not have a solution which remains credible and stable in terms of the markets for longer that 48 hours; see Lunatix3 . We are watching a Darwinian inevitability proceed at the pace of a car crash; guided by Lunatix, with Hidden Agendas; in the end the solution is inevitable, an EMF or ESB in all but name & with a banking license. It looks as complex as a modern ballet, that is the way they like it in Brussels; the process has become publicly narcissistic; it has gone too far, the politicians (elected & unelected) are loosing their audience. Now it looks as though in the end the Germans will have to pay;-

Secret Euro Finance Ministers meeting in Luxembourg - discussing Greece and possible exit from the euro

There are unconfirmed reports of a secret finance ministers meeting in Luxembourg today to discuss Greece and its possible exit from the euro. A reporter at Spiegel insists that this is the case.





... he broke the story of the appointment of Draghi (below) ..


The six candidates to race for the ECB top job

(11 February 2011) The head of the German Bundesbank, Axel Weber was long time as a hot favorite for the succession of ECB President Trichet. Now that Weber is out of the game, several candidates are mentioned. There is currently a huge uncertainty who shall take over the throne after Trichet leaves this Autumn. The EU heads of states should resolve this issue soonest and that usually means a compromise candidate. Will it be a "weak" candidate, as in the selection of Rompuy and Lady Ashton, or will it be a "strong" one who can ride the storm that will most likely hit the successor time and time again?

Financial Stability Board agree tighter watch over big financial firms ahead of the G20 Summit in Seoul

A global regulatory body said on Wednesday it had agreed a broad plan to tighten supervision of big banks and financial firms blamed for triggering the 2008-2009 financial crisis. After a day-long meeting in Seoul, the Financial Stability Board (FSB) said it had "agreed on a framework for addressing systemically important financial institutions", those deemed too big to fail. The board, created last year by the Group of 20 top world economies, represents 52 institutions from 24 countries. It said in a statement it endorsed proposals to increase the intensity and effectiveness of financial supervision. Also approved were recommendations on implementing the central clearing and trade reporting of over-the-counter derivatives, a move intended to reduce risk in the huge derivatives market. Board members additionally backed principles for reducing reliance on credit rating agencies, which came in for widespread criticism for being too close to the firms they assessed and for failing to warn of problems.

GyeonguG20 finance ministers meet in the South Korean city of Gyeongu Friday and Saturday to discuss tighter supervision of the global financial sector. The group's leaders will hold a summit in Seoul on November 11-12. On Tuesday the Basel Committee on Banking Supervision met in the South Korean capital to finalise reforms requiring big banks to strengthen their financial reserves against any future crisis. The FSB statement said these new standards "will reduce the likelihood and severity of future financial crises". FSB chairman Mario Draghi described the Basel agreement as "the conerstone of global efforts to strengthen the resilience of the financial system". He told a press conference it was "crucial" to take action on banks deemed too big to fail. All such systemically important financial institutions should build a greater capacity to absorb losses "to reflect the greater risks that these institutions pose to the global financial system," he said. Draghi also noted that FSB members endorsed principles to reduce excessive reliance by governments and financial institutions on rating agencies. He said banks, market players and institutional investors should make their own assessment of risks. "The goal of the principles is to reduce the mechanical reliance on ratings" which "can amplify pro-cyclicality and cause systemic disruption," Draghi said.

Short URL
Asymptotix on Twitter

Are the key legislative pillars such as Basel II & III, UCITS IV and Solvency II forcing you to re-examine how you identify, measure and manage risk and capital?

Asymptotix work closely with our partners to help clients develop a more proactive, systematic and integrated approach to governance and risk management to deliver proper value.

Asymptotix can offer the support you need to deliver on time. Read more...

Is the goal of your website to sell services or products, educate, or collect data?

A positive customer experience is vital to conversion, no matter what your conversion goals may be. Our designers and developers will create a positive experience to maximize your conversions and deliver the optimal return on your investment. We strive to find the perfect balance between the web site’s design and functionality.

Asymptotix implements interactive solutions for European companies. From corporate websites to social communities, our clients will tell you an investment in building a scalable online experience will deliver long-term tangible benefits.

Based in Luxembourg we can help you all over Europe. Our multi-lingual team can work with projects and speak your language! Read more...