Press release: Prof Kerber Requests “Freedom for the Bundesbank”

30.05.2017 | Allgemein, Beiträge, Finanzkrise, Klage gegen die EZB, Pressemitteilungen

Request for an injunction to allow the Bundesbank’s withdrawal from the APP-Programme

  1. Despite the fact that the Eurozone economy is thriving and the price stability target of 2% has been reached, the ECB and the Eurosystem have continued to purchase bonds at a monthly rate of 60 bn Euros. This procedure poses unbearable risks: not only would 12 % of the PSPP/CSPP bonds be subject to default risk. The bonds purchased by the National Central Bank on behalf of the ECB would also be at risk. (Read more …)

Pressemitteilung: Freiheit für die Bundesbank

Europolis : le professeur Kerber demande « la liberté pour la Bundesbank »

Európolis: El profesor Kerber pide „Libertad para el Bundesbank“

CCTV: European Central Bank on defensive as German and Italian giants wobble

5.10.2016 | Allgemein, Presseschau

Markus Kerber says Deutsche Bank is the subject of a witch hunt. This German economist doesn’t deny the country’s largest lender has problems. But he believes they’re being exaggerated.

However, Mario Draghi, European Central Bank President, doesn’t think so. He was in Berlin on Wednesday to tell his many critics here: Deutsche’s woes are of its own making.

Namely, a possible fine for mis-selling mortgage-backed securities, to the tune of up to $14 billion.

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Press release: The German Constitutional Court does not surrender

21.06.2016 | Allgemein, Pressemitteilungen

On the contrary, its ruling reinterprets the ECJ’s decision and submits ECB’s OMT programme to stricter conditionality

Though formally accepting the ruling of ECJ on OMT which gave clearance to ECB’S OMT programme, the German Constitutional Court rules that Bundesbank is only allowed to implement the OMT programme if the volume of bond purchases is limited from the beginning and securities will be sold by the Eurosystem as soon as the fiscal emergency in the Eurozone state concerned is over. (Read more)

Press release: Enough is enough, Signor Draghi!

17.05.2016 | Allgemein, Pressemitteilungen

Constitutional complaint against the recent ECB policy

Since the publication of the technical features for the Corporate Sector Purchase Programme, the ECB has definitely given up its mask of monetary policy. Through the massive purchase of corporate bonds, countries with high debt level and deficits in competitiveness such as Italy, Spain and France are supposed to improve the financing conditions of public companies. (Read more)

Press release: ECB discriminates against private companies

21.04.2016 | Allgemein, Beiträge, Pressemitteilungen

The declaration of Mr. Draghi shocked privately owned companies

The technical features for the purchase of corporate bonds published today by ECB leave wide open decisive questions: Is the Eurosystem on the whole liable for the purchase of corporate bonds operated by the group of six National Central Banks ? Why does the Dutch Central Bank stay away from that group ? In particular the participation of Bundesbank in the “Gang of Six“ remains a mystery. (Read more)

Centralbankism encounters strong resistance

16.03.2016 | Allgemein, Beiträge

Why in the light of lacklustre results the faith in central banks is fading away

The great monetary experiment as Brendan Brown calls the Fed’s quantitative eas-ing is less under intellectual pressure because of insufficient results in the US. The upswing in the U.S. economy seems robust. But the poor performance of its Euro-pean disciple ECB whose Public sector purchase programm (PSPP) as the first con-troversial QE experiment has produced nothing but inflating complaints in the German Constitutional Court sparks off a large debate on the prerogatives of central banks and their accountability. There is neither increase of inflation nor an upswing of growth due to a more entrepreneural attitude of banks in the lending business. (Read more)

By redefining the list of public securities eligible for purchase through the QE back door, the ECB has transformed the euro rescue mechanisms into a Ponzi scheme

21.12.2015 | Allgemein, Presseschau

Before and after Mario Draghi’s last press conference, the professional public focused on the scale and duration of the Public Sector Purchase Programme (PSPP).

Meanwhile, critical observers of the ECB had already taken a close look at the inner workings of the programme. Interestingly enough, the ECB from the very beginning of QE, made it clear that it would „update“ at its discretion, the list of public securities eligible for purchase. (Read more)

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