Jan 21

Related info:

ECB’s Axel Weber: Bailouts Have Damaged Basis Of Euro Zone

Yes, but look who’s talking:

Bundesbank President Axel Weber has dished out €338 billion!!!

Bankrupting Germany: German Bundesbank Financed ECB and National Central Banks With €338 Billion, ifo-Institute President Prof. Hans-Werner Sinn Stunned


euro-coin-cash

EU has squandered last chance to make euro workable, warns Ex-Bundesbank chief (Telegraph, Jan 21, 2015):

Axel Weber says it is “hard to say” whether Europe would be in better shape today if the euro had never been launched, a tactful evasion understood as nostalgia for the stability of the D-Mark

The former head of the German Bundesbank has warned that the European Central Bank (ECB) will not succeed in raising inflation for years to come and is almost powerless to revive the fortunes of the eurozone on its own.

Axel Weber, now chairman of UBS and widely-regarded as Europe’s most influential private banker, said Europe’s leaders had squandered the chance to rebuild the eurozone’s foundations when the going was good and markets were calm. Continue reading »

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Sep 23

Former ECB Chief Economist Says ECB Is In Panic, As Czech President Warns The End Of Democracy Is Imminent (ZeroHedge, Sep 22, 2012):

If anyone thought the bad blood between Germany and the rest of the insolvent proletariat, aka the part of the Eurozone which is out of money (most of it), and which has been now confirmed will be supporting Obama (one wonders what the quid for that particular quo is, although we are certain we will find out as soon as December), complete collapse of the Greek neo-vassal state of the globalist agenda notwithstanding, had gone away, here comes former ECB chief economist Juergen Stark to dispel such illusions. In an interview with Austrian Die Presse, the former banker said what everyone without a PhD understands quite well: “The break came in 2010. Until then everything went well…”Then the ECB began to take on a new role, to fall into panic…. Together with other central banks, the ECB is flooding the market, posing the question not only about how the ECB will get its money back, but also how the excess liquidity created can be absorbed globally. “It can’t be solved by pressing a button. If the global economy stabilises, the potential for inflation has grown enormously… It gave in to outside pressure … pressure from outside Europe” Why, whichever bank headquartered at 200 West, NY, NY might he be referring to?

From Telegraph:

He added that “panic” about the eurozone breaking up was “nonsense” but that the only way to end the crisis was for member states to bring down their debts and implement structural reforms to boost economic growth.

“Governments have recognised that returning to budgetary discipline is indispensable. Markets focus much more on whether states will be able to service their debts in five years’ time,” he said.

Mr Stark quit in late 2011, following in the footsteps of former Bundesbank head Axel Weber, who stepped down earlier in the year from Germany’s central bank because of unease about the ECB’s policies.

Mr Weber’s successor Jens Weidmann was the only member of the ECB’s policy-setting governing council to vote against the bank’s new programme earlier this month.

“Weidmann’s arguments … should not be made light of,” Mr Stark told Die Presse. “The way in which his position has been publicly commented upon by the ECB leadership has crossed the line of fairness.”

And speaking of continuing takeover of the world by a few not so good banks, a loud warning that the advent of globalist influences (i.e., bankers) is taking over Europe and that the “destruction of Europe’s democracy is in its final phase” comes not from some European (or American… or Zimbabwean) fringe blog, but from the 71 year old president of the Czech Republic, someone who certainly knows about the difference between communism and democracy, Vaclav Klaus. In an interview with The Sunday Telegraph, “Václav Klaus warns that “two-faced” politicians, including the Conservatives, have opened the door to an EU superstate by giving up on democracy, in a flight from accountability and responsibility to their voters. “We need to think about how to restore our statehood and our sovereignty. That is impossible in a federation. The EU should move in an opposite direction,” he said.”

Continue reading »

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Feb 21

The bailouts have damaged the basis of Europe’s currency union?

Yes, but look who’s talking:

Bundesbank President Axel Weber has dished out €338 billion!!!

Bankrupting Germany: German Bundesbank Financed ECB and National Central Banks With €338 Billion, ifo-Institute President Prof. Hans-Werner Sinn Stunned

The bankster bailouts bankrupted several countries, that already needed bailouts themselves to survive, other countries will need them later on.

Spain is already too big to bail out. Then the next stage is a currency crisis and a currency reform.

You have just witnessed the biggest bank robbery and the biggest looting of entire nations (incl. the US) in history, perfectly planned by the elitists.


DUESSELDORF, Germany (Dow Jones)–The financial rescues of Greece and Ireland have damaged the foundations of Europe’s currency union, Deutsche Bundesbank President Axel Weber said Monday.

In a speech to an audience of academics and business representatives, Weber said it was essential not to let the deals that have been made to keep financial stability in the euro zone become the norm.

“We have to strengthen the foundations again,” he said. He highlighted the risk that highly indebted countries in the euro zone might try to put pressure on the European Central Bank not to raise interest rates, as this would raise the cost of their debt servicing to unsustainable levels. Weber has indicated he has no desire to be subjected to that kind of pressure and has said he will step down from the Bundesbank at the end of April, instead of allowing himself to be put forward as successor to Jean-Claude Trichet, whose term at the head of the ECB ends in October.

Continue reading »

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Sep 18

Weber warns crisis is ongoing as fears mount over Ireland

axel-weber
Axel Weber

Europe’s financial crisis is not yet over, one of the single currency bloc’s most senior policymakers warned yesterday, as he urged further reform of banking regulation.

Axel Weber, the President of Germany’s Bundesbank and a leading member of the council of the European Central Bank, said he was frustrated more had not been done to tackle the risks posed by very large banks.

“The financial crisis is still with us – we are not in year one after the crisis, we are in year four of the crisis,” Mr Weber said. “Moral hazard is in the financial system. I want to get to a situation where the term ‘too big to fail’ does not exist.”

Mr Weber’s warning was echoed by Ewald Nowotny, one of his colleagues on the ECB council, who called for European governments to begin stepping back from the emergency support, in the form of cheap funding, they have been extending to banks for more than two years.

Continue reading »

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