So today I think to myself "I can't stomach any more EA vibes this week!" and, I kid you not, within the hour this drops into my inbox.
"One reason you don't want to turf the Russian side of SWIFT is that your own banks will go belly up." Or, you bail-out|let-fail the banks & explain to EU public that this is price you pay for security when you have no military deterrent. @csm_research
youtube.com/watch?v=pPzqeqc-…
Come on @Lagarde, you know that this pusillanimous path is one of expediency over principle, ECB can lead and do way more.. is this really the legacy you want to leave? ecb.europa.eu/press/pr/date/…
I suppose CN EUR inflows into RU support repayment of loans to IT/FR/AT banks that ramped up lending to RU after RU's annexation of Crimea. Can't let sanctions harm the banks!
Keep hearing about USD-denominated sanctions, SWIFT (a *message* network) ban "on the table" blah blah, but what exactly is the ECB doing wrt settling EUR txns with Russian banks? bloomberg.com/news/articles/…
Replying to @clearmatics
@clearmatics in L'AGEFI (swiss financial paper) agefi.com/quotidien-agefi/su…








