EU corruption scandal: European Parliament offices searched

[Mickeymaus]

7 minutes ago, placeholder said:

Where does this nonsense come from?

 

From Kohl and Mitterand. Kohl wanted to have East Germany. This idiot wanted to be famous. If you know what he did to his own wife you understand how sick he was... 

[placeholder]

3 minutes ago, Mickeymaus said:

From Kohl and Mitterand. Kohl wanted to have East Germany. This idiot wanted to be famous. If you know what he did to his own wife you understand how sick he was... 

How does this support you claim? You got any real evidence? Namely " And the biggest scandal is what the ECB does. Printing money to support bankrupt EU members. "

You got any real evidence?

[Mickeymaus]

2 minutes ago, placeholder said:

How does this support you claim? You got any real evidence? Namely " And the biggest scandal is what the ECB does. Printing money to support bankrupt EU members. "

You got any real evidence?

Just study the balance sheet of the ECB. And also their statements. Kohl always said that the Euro will be as strong as the German Mark. At the same time he allowed bankrupt countries like Italy and Greece to join the Euro. 

[placeholder]

26 minutes ago, Mickeymaus said:

Just study the balance sheet of the ECB. And also their statements. Kohl always said that the Euro will be as strong as the German Mark. At the same time he allowed bankrupt countries like Italy and Greece to join the Euro. 

" Any alleged factual claims must be supported by a valid link to an approved credible source."

You got nothing.

 

[Mickeymaus]

5 hours ago, placeholder said:

" Any alleged factual claims must be supported by a valid link to an approved credible source."

You got nothing.

 

You can find all information on the Internet published by the ECB. They have to do it. Here vor instance the increase in the balance sheet that shows how they printed money. 

 

[RayC]

1 hour ago, Mickeymaus said:

You can find all information on the Internet published by the ECB. They have to do it. Here vor instance the increase in the balance sheet that shows how they printed money. 

 

Google translates 'Bilanzsumme des Eurosystems' as 'Total assets of the Eurosystems'. What does this actually mean? Can you clarify what this graph is showing please?

[placeholder]

3 hours ago, Mickeymaus said:

You can find all information on the Internet published by the ECB. They have to do it. Here vor instance the increase in the balance sheet that shows how they printed money. 

 

7 billion euros is within the range of a rounding error for the eu. The latest GDP figure for the EU is almost 14.5 trillion euros. so 7 billion euros amounts to about 0,05% of total EU GDP. This is your idea of an inflationary amount?

[Mickeymaus]

1 hour ago, RayC said:

Google translates 'Bilanzsumme des Eurosystems' as 'Total assets of the Eurosystems'. What does this actually mean? Can you clarify what this graph is showing please?

This shows the amount of money the ECB made available (printed...). In the meantime this high volume is one reason for the inflation. 

[ozimoron]

16 minutes ago, Mickeymaus said:

This shows the amount of money the ECB made available (printed...). In the meantime this high volume is one reason for the inflation. 

Then why is the entire world suffering the same inflation?

[Mickeymaus]

8 minutes ago, ozimoron said:

Then why is the entire world suffering the same inflation?

Because many central banks printed and kept the interest rates low or even negative. The FED does (now) something against it. The ECB not so much because of the problems that higher interest rates would cause for countries with huge debts like Italy, Greece and others. In addition high inflation is a kind of debt reduction for such countries paid by everyone with money. Such people lose if the interest rate is lower than the inflation rate. In addition you have the war and sanctions that backfired... 

[RayC]

7 hours ago, Mickeymaus said:

This shows the amount of money the ECB made available (printed...). In the meantime this high volume is one reason for the inflation. 

Sorry but I am none the wiser. The figure for 2020 is €7 billion. What are these assets? What are these 'Eurosystemes'? 

 

The only thing that can be deduced from the graph is that the total (current) value of assets with these 'Eurosystemes' is on an upward trajectory. Whether that is an indication of inflationary pressure depends on the definitions and context.

 

6 hours ago, Mickeymaus said:

 

 

[Mickeymaus]

10 minutes ago, RayC said:

Sorry but I am none the wiser. The figure for 2020 is €7 billion. What are these assets? What are these 'Eurosystemes'? 

 

The only thing that can be deduced from the graph is that the total (current) value of assets with these 'Eurosystemes' is on an upward trajectory. Whether that is an indication of inflationary pressure depends on the definitions and context.

Assets are for instance government bonds. The ECB bought them to keep the interest rates for problem countries low. 

[RayC]

2 minutes ago, Mickeymaus said:

Assets are for instance government bonds. The ECB bought them to keep the interest rates for problem countries low. 

Yes, I am aware of that.

 

I have some sympathy for your view that at a macro level, the Euro(zone) - as it currently exists - is inherently flawed. 

 

However, that does not answer my questions: Specifically, what are these €7 billion of assets? What are Eurosystemes? 

 

I still don't understand what this particular graph is showing, or what I am meant to deduce from it other than it is on an upwards trajectory.

[stevenl]

10 minutes ago, RayC said:

Yes, I am aware of that.

 

I have some sympathy for your view that at a macro level, the Euro(zone) - as it currently exists - is inherently flawed. 

 

However, that does not answer my questions: Specifically, what are these €7 billion of assets? What are Eurosystemes? 

 

I still don't understand what this particular graph is showing, or what I am meant to deduce from it other than it is on an upwards trajectory.

I'm with you on that one.
I do know this conclusion "This shows the amount of money the ECB made available (printed...)" is not correct.

[Mickeymaus]

37 minutes ago, RayC said:

Yes, I am aware of that.

 

I have some sympathy for your view that at a macro level, the Euro(zone) - as it currently exists - is inherently flawed. 

 

However, that does not answer my questions: Specifically, what are these €7 billion of assets? What are Eurosystemes? 

 

I still don't understand what this particular graph is showing, or what I am meant to deduce from it other than it is on an upwards trajectory.

Here you find the balance sheets of the ECB for the last years...

 

https://www.ecb.europa.eu/pub/annual/balance/html/all_balance_sheets.en.html

[placeholder]

12 hours ago, Mickeymaus said:

This shows the amount of money the ECB made available (printed...). In the meantime this high volume is one reason for the inflation. 

I pointed out that 7 billion is a very very very small number in relation to the EU economy.  It's a very very very small number even in relation even to just the German economy. How could it have an inflationary impact?

[placeholder]

Actually, the history of the Euro shows that it wasn't until well after the financial crisis that it started creating bonds to borrow money. During the crisis the EU kept very strict limits on how many Euros each member of the Eurozone could create. That resulted in years of grinding disinflation for the poorer southern nations. Of course, this also reveals the basic flaw of having a currency union without a fiscal union. If Greece or Portugal or whatever country was having a financial crisis had their own currency, they probably would have experienced high inflation. That in turn would make their economies more competitive against others. Inflation hurts but it's a lot quicker than disinflation or deflation. The way the Euro works now is that it's actually a form of subsidy to the wealthier nations since it keeps their costs artificially lower than they would be if they had their own currency.

[RayC]

3 hours ago, Mickeymaus said:

Here you find the balance sheets of the ECB for the last years...

 

https://www.ecb.europa.eu/pub/annual/balance/html/all_balance_sheets.en.html

It's all very interesting but it still does answer my questions. 

 

(Note: I can read and understand a balance sheet).