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politicalbetting.com » Blog Archive » So, this errr… Target2 thing. What is it, and why is it spikin
politicalbetting.com » Blog Archive » So, this errr… Target2 thing. What is it, and why is it spiking, and should I care?
With the election of the Lega Nord and Five Star Movement in Italy, Target2 imbalances are growing again. The gap between the creditor nations (mostly Germany and the Netherlands) and the debtors (the PIIGS, less Ireland) is now back at levels last seen at the height of the Eurozone crisis.
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Economics is not my forte ...
Edit: having re-watched the start, I think there's a point here. The video is titled 'What is this Target 2 anyway', and you immediately go into what it isn't. I watched the video, and was still unsure what it was. But perhaps that's just me ...
But thanks, I have enjoyed all your videos so far.
https://www.welt.de/politik/deutschland/article178377172/Konservative-in-Suedwest-CDU-Werte-Union-fordert-Ruecktritt-der-Bundeskanzlerin.html
I think I may need to do something with the lights.
You will notice on the list that breathalysers do not carry a fine, even though they are a legal requirement. It was headlined as the new big road safety initiative by the French Government as it was saying for over 2 years that an 11 euro fine would be issued for non-compliance, but they have never actually brought the fine into force. They have finally decided that the fines for this offence are to be scrapped indefinitely.
https://www.drive-france.com/checklist/
If your satnav can show fixed speed cameras, then you’ll have to disable alerts before you drive in France.
https://www.theaa.com/european-breakdown-cover/driving-in-europe/driving-in-france
Oh, and why do people visiting a gym feel the need to avoid walking across the carpark, when they are about to spend half an hour on a treadmill?
Our Skoda Octavia has pretty low clearance and it has caused a couple of issues in the past.
—
*the tractors are fine really, it’s the tourists in 5-serieses who are terrified of getting their contract leasing company’s paintwork within a foot of the hedge that you have to worry about
Here you go: http://www.shipned.com/shiptrader/small-cargo-ships-for-sale.php
As to the tourists, etc, I once had a stand off during a wet winter on a single track road with an immaculate saloon car which wouldn't get over. As I was in a horse box and would have got bogged down had I left the road, I just turned the engine off and waited. They reversed back eventually!
I could afford $1550 ;D
Mr. Glenn, I'm not sure that'll go down terribly well.
Two World Cup countries have 0 players who play in their own country: Sweden and Senegal.
The one country which has 0 team members playing outside their country? England.
Which Guardian columnist has more opinions on politics than she can manage to fit in her columns – so takes them to the bookies? She’s an unlikely regular with one high-street bookmaker, fluttering on the comings and goings of Westminster.
"Germany, France, Italy, Czechoslovakia, Hungary, Cuba and Brazil were seeded for draw taking place in Paris, on 5 March 1938. Sweden was given a bye due to Austria’s withdrawal.[3]
Five of the seven first round matches required extra time to break the deadlock; two games still went to a replay. In one replay, Cuba advanced to the next round at the expense of Romania. In the other replay, Germany, which had led 1–0 in the first game against Switzerland, led 2–0 but eventually was beaten 2–4. This loss, which took place in front of a hostile, bottle-throwing crowd in Paris, was blamed by German coach Sepp Herberger on a defeatist attitude from the five Austrian players he had been forced to include; a German journalist later commented that "Germans and Austrians prefer to play against each other even when they're in the same team"."
The Government might be lacklustre, to be polite, but I'll take mediocrity over socialists or fascists any day of the week.
https://twitter.com/experimental361/status/1012246402611777536
I could fit in a VW Golf in there back in the day but opening the doors was a struggle.
http://www.wired.co.uk/article/porn-block-ban-in-the-uk-age-verifcation-law
Bring it! Should be our mantra.
27%...40% my arse. Tell it to UBS.
1. No deal, WTO
2. As now but no say.
So staying in looks good.
BAE Systems has beaten Italian and Spanish rivals to win a multibillion-dollar contract to build Australia’s new fleet of warships in a victory that should strengthen defence ties between London and Canberra just as Britain exits the EU.
https://www.ft.com/content/845e88e0-7ac7-11e8-8e67-1e1a0846c475
EDIT: That said, we should try to win tonight, and if possible, win well. But if we lose, then never mind.
Since then we’ve had Jags: the old-fashioned beautiful ones - S-type etc - which have been the best cars I’ve ever had. (I once had a Peugeot - dreadful - it burst into flames in Brent X car park only moments after the children got out.)
Recently I did a trip up to and back from the Lakes in my Jag convertible with the hood down, the sun in the sky, wind in my hair, music turned up loud. Noisy, windy but fucking awesome!!!
Soyuz Sovetskikh Sotsialisticheskikh Respublik)
A brilliant car for carrying plants. I have even carried Xmas trees in it. My next outing will be to the Hampton Court Flowere Show next week.
And so it is.
Parallel parking is master to learn IMO than motorway driving.
Mr. Song, Oskar Schindler[sp] was a Nazi. That does not mean the Nazis were good.
Also, individuals following a creed (in this case political) are not the same as the creed itself. Individuals may be good or bad and that doesn't affect the inherent failure and idiocy of socialism.
Look how well it's doing in Venezuela right now. The movement of power from individual people and companies to the machinery of the state inevitably leads to shortage, famine, crisis, and tyranny.
Freedom isn't merely a good for personal morality, it's good for the economy and good for politics. It's why the puritans so keen to censor on religious, political, and 'sensitive' grounds are so damned foolish.
I would make 3 points.
1. Capital flight is another way of measuring the risk of Euro break up. This risk used to show up with differential interest rates on government debt and it still does to a limited extent but the Mario Put was very successful in reducing those differentials. The risk is now showing up elsewhere and it is currently thought to be high.
2. Why is this a problem? Because it means most of the working capital in the EZ is being deposited in German banks, despite them paying no interest. This gives a problem to Italian banks. They have to borrow money from the German banks to lend to investors in Italy. This requires both German banks being willing to lend and for Italian investors to pay a double premium, a turn to their own bank and a turn to the German bank as well. If risks are thought to be increasing German banks are likely to seek to recall capital from Italian banks causing severe liquidity problems there exacerbating any crisis that is already ongoing.
3. It is not risk free from the German perspective either. If Italy decided to leave the EZ and default on these target 2 balances the German/Euro financial system would collapse. The sums involved are far too large to be absorbed. This, ironically, gives the likes of Italy some leverage but it increases instability in a very 2007 way.
So, I do not think Robert is right to say ignore this. The ECB has got to work to persuade Mario that the Italian banks are a safe place for his cash. As Robert says, this could be greatly assisted by larger interest rate differentials making those Italian banks more attractive. If the EZ goes on like this growth in places like Italy, Spain and Portugal is likely to suffer and Germany is likely to become even more dominant.
So Communists and Socialists are as bad as Fascists!
What's your take on Social Democrats?