Behind The Scenes Liquidity Scramble In Europe? One Bank Borrows $500MM In Emergency Cash From ECB

http://www.zerohedge.com/news/behind-sc ... y-cash-ecb

According to the just released results of the ECB's tender operation for emergency 7 day liquidity, arguably the closest the ECB has to a dollar denominated discount window (and the associated stigmata upon borrowing), just one bank borrowed $500 million in a 7 day liquidity providing operation at a 1.1% rate. Why is this notable? Because as the chart below indicates, there had been no borrowing under this facility since March 2011, and the last time there was a sizable borrowing under the 7 Day OT was back in May 2010, when Europe was blowing up for the first time and the ECB was scrambling like a headless chicken to contain the contagion fires. So the question now is which (French? Italian?) bank ….

(Hum hum...bon pas de fausses rumeurs, mais quelques pistes dans les commentaires de l'article)


Merkel And Sarkozy Plans Fail To Assure Markets - New Record Nominal Gold High (USD London Fix)
http://www.zerohedge.com/news/merkel-an ... london-fix
Merkel Sarkozy plans to centralize financial and economic governance in the EU has failed to calm markets and there is further weakness in stock markets today. A key aim of the meeting was to restore confidence in the euro. In the short term this has not been achieved and it is highly unlikely that it will be achieved in the long term. Centralised financial and economic governance will not be a panacea to the current debt crisis. It does nothing to address the root cause of the problem which is massive indebtedness and the saddling of taxpayers with massive liabilities incurred by banks. Concerns about currencies and currency debasement is leading to continued safe haven demand for gold.

Tradu (approx.) du 1er paragraphe.

" se démenait comme un poulet décapité pour contenir les feux de contagion."
Je ne me lasse jamais d'une telle poésie, la langue française est trop belle.

courir comme un poulet sans tête.....

C'est une expression anglo-saxonne. On dira par exemple : j'avais tellement de choses à préparer pour les vacances que je courais dans tout l'appartement, comme un poulet sans tête.

C'est un peu un condensé des deux expressions françaises : "courrir dans tous les sens" ou "ne plus savoir où on en est".

Pour en revenir à la question de ZH ...

m'est avis qu'il s'agit de cette banque qui a défrayé la chronique en perdant 5 milliards € grâce aux bons soins d'un "trader fou"...

me think so too...