Archive for the ‘EUROPEAN CENTRAL BANK’ Category

INTEREST RATE HIKE SOONER THAN ECB DECIDED

Monday, September 12th, 2016

Interest rates set to rise, European Central Bank capitano Mario Draghi at helm has exhausted its bond buying capability keeping interest rates artificially low. But for how much longer can protectionist ECB instruments exist if there is no navigator steering the ship out of stormy water. His last course has failed and with it no realistic hope of any policy provisions that could help the ECB or EU out of the appalling course he steered. Hopefully and quite soon he will lose his job just like Merkel.

Nothing is working, more importantly no-one can help, while he remains fixated on his tube mentality sight full of his own self importance. Europe is in depression people are unemployed, living standards are appalling, wages are lower now than during the 60s. Even with lower fuel prices, real inflation is running around 16%, food and medicines are shockingly high. Millions are homeless, Millions more are flooding into Europe from third world countries like Africa and Asia. The shocking fact is that each day thousands more arrive and the European Union with its vast reserves and cash is powerless and incompetent to stop it.

Immigration, austerity, inflation, unemployment, homelessness, low wages, and downright mistrust of the ECB, EU, Banks, Government, MP’s and Ministers.

Throughout western Europe the vast majority of residents (huge numbers) do not want the corruption any longer and are intent on following Britain’s lead out of the European Union. People do not want enforced immigration and the terrorist maniacs it brings to their towns and cities. The Government, Media and Police need to realize Robo Cop tactics to stop public demonstrations and stifle unrest is not going to work, it has gone too far already!

EU open door policy has fueled astronomical distrust and hatred, its not true that ordinary citizens are racist. Color, race, and creed are being used by the EU to enforce mass immigration to the EU. This lowers wages and increases the number of taxpayers contributing into the EU filling its own voracious appetite for everyone’s money, bypassing ordinary citizens democratic rights.

The European Union is certainly not helping any country out of the shocking state of affairs they created to save the banks. Its directives laws and recommendations are just revenue collection tools for it to squander.

Not once has the writer experienced or seen a EU law that helps ordinary citizens. More to the point the laws coming out of Europe have removed the right to justice for ordinary people. Now its just another tax to pay if you can afford the massive increase in Court fees.

The ECB, well its just a central bank for central banks. Banks that voted among themselves to take control of the EU and its banks and central banks for the ECB– (you got it a bank)!

Now we have capital controls on our own money. That is if its in a bank, in which case its not your money anyway, but lets not be that concerned, the bank will inflate away your money

Ask you friendly bank manager if he can explain just exactly what BAILIN means ( : > Anwer they just steal your money to stop the banks becoming insolvent and bankcrupt.

This law was passed YOU GOT IT by the European Union,???????????

Helicopter Money = More Bank Bailouts,

Wednesday, August 10th, 2016

Just how much more money is going to the banks financial elite from taxpayers without political and taxpayer unrest.

Bank of England policy is clearly to ruin public finances and small business.

More bank bailouts, cuts, further austerity and devaluation of the pound will have no effect but destroy Britains economy, just as it has in Europe;

Meanwhile banks withold the truth about how more £trillions are needed from taxpayers as well as helicopter money from central banks.

This seems strange because policy makers including the ECB IMF and EU are complicit in this together stealing from pensioners purses, to feed the financial elite parasites, who pay no tax;

This is a deliberate plan to keep interest rate low to loot depositers money from their bank accounts.

Do the BOE think people will stand for this without revolt or a challenge to the legality of Central bank power.

The public are not going to wait for article 50 to start the 2 year exit process from the EU. Its likely politicians will be taken of guard with this, as well as the pending child abuse!!!    Not forgotten.

EU NEGATIVE INTEREST RATE ADOPTED

Monday, June 20th, 2016

MEANING YOU PAY BANKS TO KEEP YOUR MONEY.”

 

EUROPEAN CENTRAL BANK MAKES LAW, ???????????? CHECK IT OUT YOURSELF.

 

7.6.2016

EN

Official Journal of the European Union

L 149/1


COUNCIL REGULATION (EU) 2016/888

of 6 June 2016

amending Regulation (EU) 2015/323 on the financial regulation applicable to the 11th European Development Fund as regards payment of the instalments

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on European Union and to the Treaty on the Functioning of the European Union,

Having regard to the Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement, and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (1) (‘the Internal Agreement’), and in particular Article 10(2) thereof,

Having regard to the proposal from the European Commission,

Having regard to the opinion of the European Court of Auditors (2),

Having regard to the opinion of the European Investment Bank,

Whereas:

(1)

On 5 June 2014, the European Central Bank adopted a Decision (3) providing for a negative interest rate, which entails a payment obligation on the deposit holder to the relevant national central bank (NCB) including the right of that NCB to debit the relevant government deposit account accordingly. Other NCBs in which European Development Fund (EDF) funds have to be kept in accordance with Article 22 of Council Regulation (EU) 2015/323 (4) adopted similar decisions.

(2)

According to Article 22(3) of Regulation (EU) 2015/323, contributions to the EDF are to be credited by each Member State to a special account entitled ‘European Commission — European Development Fund’ opened with the central bank of the relevant Member State or the financial institution designated by it.

(3)

Those special accounts opened by the Member States in the name of the Commission, for the purpose of depositing EDF contributions, should be kept free of any charge and interest until they need to be used for payments, thereby preventing losses for the EDF budget. The application of charges or negative interest would reduce the EDF budget and lead to unequal treatment of Member States. Therefore, where negative interest is applicable to EDF accounts, the Member States concerned should credit an amount equal to the amount of that negative interest. Given that some Member States do not have the possibility of avoiding the financial impact of the obligation to credit such amounts of negative interest to the EDF accounts, it is appropriate that the Commission, when covering its payment requirements, aims to reduce that impact by drawing with priority on the sums credited to the accounts concerned.

(4)

Regulation (EU) 2015/323 should therefore be amended accordingly,

HAS ADOPTED THIS REGULATION:

Article 1

Article 22 of Regulation (EU) 2015/323 is replaced by the following:

‘Article 22

Payment of the instalments

1.   Calls for contributions shall first use up the amounts laid down for previous European Development Funds, one after the other.

2.   The contributions of the Member States shall be expressed in euro and shall be paid in euro.

3.   The contribution referred to in point (a) of Article 21(7) shall be credited by each Member State to a special account entitled “European Commission — European Development Fund” opened with the central bank of the relevant Member State or the financial institution designated by it. The amount of such contributions shall remain in those special accounts until the payments need to be made.

4.   The account referred to in paragraph 3 shall be kept free of any charge and interest.

5.   Where negative interest is applied to the account referred to in paragraph 3, the Member State concerned shall, at the latest on the date of payment of each instalment referred to in Article 21, credit the account with an amount corresponding to the amount of such negative interest applied until the first day of the month preceding the payment of the instalment.

6.   Without prejudice to paragraph 7, the Commission shall endeavour to make any withdrawals from the special accounts in such a way as to maintain a distribution of assets in those accounts that corresponds to the contribution key pursuant to point (a) of Article 1(2) of the Internal Agreement.

7.   When covering the EDF cash resource requirements in accordance with paragraph 3, the Commission shall aim to reduce the impact of the obligation on Member States to credit amounts of negative interest pursuant to paragraph 5 by drawing with priority on the sums credited to the accounts concerned.

8.   The contribution referred to in point (b) of Article 21(7) shall be credited by each Member State in accordance with Article 53(1).’.

Article 2

This Regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Luxembourg, 6 June 2016.

For the Council

The President

H.G.J. KAMP


(1)  OJ L 210, 6.8.2013, p. 1.

(2)  OJ C 5, 8.1.2016, p. 6.

(3)  Decision ECB/2014/23 of the European Central Bank of 5 June 2014 on the remuneration of deposits, balances and holdings of excess reserves (OJ L 168, 7.6.2014, p. 115).

(4)  Council Regulation (EU) 2015/323 of 2 March 2015 on the financial regulation applicable to the 11th European Development Fund (OJ L 58, 3.3.2015, p. 17).