giovedì 12 dicembre 2013

La Bce ammette quello che (quasi) tutti sanno

Spesso abbiamo parlato del circolo vizioso che ha visto la Banca centrale prestare denaro alle banche per acquistare titoli governativi e abbassare artificiosamente lo spread.

Questo loop è stato considerato più volte come un palliativo, stile nascondere la polvere sotto il tappeto o rimandare i problemi a domani.

Ora un top executive alla Bce conferma le loro (nostre) preoccupazioni.


A top official at the European Central Bank has signalled it will try to force eurozone banks to hold capital against sovereign bonds, in an attempt to stop weak lenders using its cash to hoover up the debts of crisis-hit countries.

the central bank could combine its new powers as chief banking regulator with its existing role as currency issuer to toughen up the requirements on sovereign bonds, which have been traditionally classed as risk-free.

Mr Praet said if sovereign bonds were treated “according to the risk that they pose to banks’ capital” during the health check, then lenders would be less likely to use central bank liquidity to buy yet more government debt.

The vicious cycle that has seen banks use central bank cash to buy government bonds has been partly blamed for prolonging the eurozone financial crisis.

Ma quale paese ha più utilizzato questo schemino ? ....
and the winner is ... Italy.