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Europe Crisis Deepens - Golem Xiv

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http://whistleblowerirl.blogspot.com/2011/08/europe-crisis-deepens-golem-xiv.html

One interesting detail before I go. The UK is not a backer of the EFSF. A fact the UK government has made much of in the sense of saying how Europe must solve its own problems and the UK will not have to pay. BUT, the UK IS a backer of the ECB. Here are the three largest plus GB.

Bank__________________________% Capital___________Paid up Capital

Deutsche Bundesbank___________18.94_______________1,406,533,694.10

Banque de France______________14.22_______________1,056,253,899.48

Banca d'Italia________________12.50_______________928,162,354.81

Bank of England_______________14.52_______________58,580,453.65

The BoE figures look wrong. The BoE 'owns', has as large a percentage of investment in the ECB as France. Almost as large as Germany. But the actual amount seems far too small. That is because Non-EU members, like the Uk don't have to actually pay up their full amount.

BUT... I wonder if as part of an emergency measure the BoE would be asked to step up along side the Bundesbank and the Bank of France (especially if France faces growing rumour of its own downgrade) and pay up its full amount?

If it did - and this is 100% speculation - what assets would it put up?

Dave appears to have forgot this little gem, or is this blogger wrong and we aren't up for 15% in the ECB?

Still luckily the ECB isn't moving to monetise the debt of Italy, Spain and well everyone in the Euro...

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BUT... I wonder if as part of an emergency measure the BoE would be asked to step up along side the Bundesbank and the Bank of France (especially if France faces growing rumour of its own downgrade) and pay up its full amount?

In my dreams the PM would be sticking 2 fingers up to offer as collateral..

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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