Detail Home and Dry; Europe in Limbo   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8786 (May 2012), page 75-76. Topik: Monetary Policy; Economic Conditions; Planning; Central Banks Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.72 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel As policymakers and pundits try to work out the effects of a Greek exit, banks and investors have already been taking precautions. One course of action has been to pull money out of more fragile markets. Never mind the weakest economies like Greece, Ireland and Portugal; Spain and Italy have also lost foreign bank deposits of about EUR 45 billion ($56 billion) and EUR 100 billion respectively from their peaks. Add in things like sales of government bonds by foreigners, and capital flight is probably equal to about 10% of GDP in those countries, say Citigroup analysts. Such outflows are hard to stop. The European Central Bank (ECB) has filled this funding gap by providing liquidity to the banks. But that has in turn reinforced the second precautionary tactic: matching assets and liabilities within countries as much as possible. It is a common refrain from bankers that the euro area no longer functions as a single financial market, although that has the paradoxical advantage of making a break-up less destructive. Banks have used ECB loans to borrow from the national central banks of the countries in which they have assets; that should mean that both sides of the balance-sheet would get redenominated in the event of a euro exit. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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