- Divergence Theme Questioned
- What to Expect from the Central Banks in 2017
- The ECB is Clearly NOT Hawkish
- Bank of England On Hold Until November
- Trump’s Proposal “Print the Money” Echoes Franklin and Lincoln
- Japan's Helicopter Money Play
- Brexit and the Derivatives Meltdown
- Central Banks Gaming
- Is that Buzzing Sound Helicopter Money?
- Is the Influence of the Central Banks Fading?
- Reinventing Banking
- Negative Interest, the War on Cash, and the $10 Trillion Bail-in
- The Future of Central Bank Monetary Policy
- Jeremy Corbyn’s Controversial Quantitative Easing Proposal
- Central Bank Season Heats Up
- Reserve Bank of New Zealand Rate Decision
- What has the ECB been Buying
- Four Central Banks Meet but FOMC is the Key
- Federal Overnight Reserve Repurchase Repo and Fed Funds Implications for 2015
- BoJ and ECB expected QE policies
- Unfitting Policies Will Not Save the Euro-area or Japan in 2015
- Can the $40 Drop In the Price of Oil Bankrupt the Biggest Banks?
- New G20 Banking Rules
- Central Banks Are Playing the Stock Markets
- A Public Bank Option for Scotland
- Preparing To Asset-strip Local Government The Fed’s Bizarre New Rules
- The Fed could Keep Rates at Zero through 2015
- Are Public Banks Unconstitutional? No. Are Private Banks? Maybe.
- New Challenges for an Old FED
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Finally, and even if it seems contradictory, the political tensions in the euro zone give the ECB room to act, which sees the uncertainties weigh on its currency, especially as these tensions are often temporary.
The Brexit is a perfect example because the result of the vote of June 23 is now less and less likely to be followed by a real exit from the United Kingdom. The British Supreme Court is set to render public its decision regarding as to whether the Parliament of Westminster should give its approval for the triggering of Article 50. Needless to remind that the British parliament is mostly made up of Europhiles.
This is where the frontier between economics and politics lies, and referendums can always be largely overstepped and have only advisory value. For example, in the recent European history, the Greek referendum on austerity policies is another example. It can be considered as betrayal of the leftist party Syriza. In the same way, the Treaty of Lisbon in France in 2005 was approved by the French parliament although rejected, again, by referendum. The euro remains weak as a result of tensions in the euro area, and yet the ECB's quantitative easing programs have been inefficient so far.