it for USDs. (click to enlarge) Yesterday, TMM’s IBs lit up in excitement at the ECB’s USD Auction Allotment showing that two banks had borrowed the princely sum of $575m from the ECB. The below chart of the facility’s usage should put this into perspective. Today’s ECB marginal ...
Since the launch of the Euro, there has always been a question about the benefits that Germany could enjoy of sharing a currency with other countries. While for the other countries (the “periphery”) the benefits in terms of credibility and stability of a strong currency were obvious, for G...
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Chart of the Day: Euro Rescue PieGlobal Macro Monitor