Serb government tightens grip on central bank despite EU, IMF warning

BELGRADE (Reuters) – Serbia’s Socialist-led government stepped up control over the central bank in the struggling ex-Yugoslav republic on Saturday, ignoring IMF criticism and a warning that the move would hurt its bid to join the European Union. Parliament adopted amendments to the law on the National Bank of Serbia, as the government seeks to … Continue reading

ECB Plans to Set Yield Targets for Bond Purchases

Interest rates on Spanish sovereign bonds have been rising to dangerous levels in recent weeks. Now, SPIEGEL has learned that the European Central Bank plans to use a new instrument to stop the trend: The bank is considering setting yield targets on the bonds of euro-zone countries. Should interest rates exceed those levels, the ECB … Continue reading

Bet on Greek Bonds Paid Off for ‘Vulture Fund’

When Greece announced on Tuesday that it had made a €436 million bond payment to the hold-out investors who rejected the country’s historic debt revamping deal in March, the decision came as no surprise. After all, with the Athens government in disarray and investors wary of having anything to do with Greece, now would be … Continue reading

EXCLUSIVE: GREEK GOVERNMENT ROBBED PUBLIC INSTITUTIONS TO COMPLETE BOND SWAP

REVEALED: HOW VENIZELOS REGIME SECRETLY REMOVED 70% OF MAJOR HOSPITAL, UTILITY & UNIVERSITY BANK ACCOUNT FUNDS TO PAY BONDHOLDERS Bank of Greece complicit in broadscale embezzlement revealed by respectable Greek health site The illegally denied default of Greece entered a dramatic new phase this afternoon with the revelation by mainstream Greek public health website Health News that, … Continue reading

The Economic Consequences Of Greece

History, said Karl Marx, repeats itself twice, “the first time as tragedy, the second time as farce”. Bad economic policy, on the other hand, repeats itself forever – but the results are rarely funny. Take Brussels’ current economic plans for Greece.