Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
RT @ojblanchard1: This used to be relevant. But future European demand for Russian gas is likely equal to zero. In this case, no reason to preserve the future. A monopolist should go for broke.
RT @ojblanchard1: 2. Russia gets euros and dollars for its sales. But, given EU and US export restrictions, it has limited use for them. What is the point of getting foreign currency if you cannot buy goods with them? (This is what is leading to the strong ruble, not a strong Russian economy)
@COdendahl No contagion (unlike in 2012) is great news. To a first order approx, there is no reason, apart from redenomination risk, why two identical firms in two different countries should be facing different financial conditions in a monetary union. Maybe a way to measure fragm. risk?
Elke König was just as clear:
"Not having a European deposit scheme is an issue for the doom loop. If something goes wrong, the national system and the national taxpayer is on the hook"
Will Ministers listen? The warnings are there to see.
Andrea Enria did not shy away from it
1) "The absence of a European deposit guarantee scheme is an issue for the integrity of our single currency"
2) Sovereign exposures are high but "there has been a significant reduction"
3) "We miss a safe asset"
What did the @ecb Chair of Banking Supervision have to say about:
1) the lack of a Europe-wide safety for depositors?
2) the enormous concentration of sovereign debt in bank balance sheets?
3) the lack of a European safe asset?
In the past two weeks I have asked Europe´s two top financial regulators about 🇪🇺 ministers giving up on a European deposit insurance. I fear the doom loop may come back.
Watch my questions and their answers below👇
RT @TalkTV: Ex Cabinet minister Lord Frost has "grave reservations" about Penny Mordaunt becoming the next PM.
"I am surprised at where she is in this leadership race. She was my deputy. She wasn't fully accountable or visible. I had to ask the PM to move her on"
@JuliaHB1 | @DavidGHFrost
Por orden de María Jesús Montero de Kirchner
RT @La_SER: María Jesús Montero avisa: el Gobierno prohibirá que los bancos y las energéticas trasladen la subida de impuestos a los ciudadanos https://cadenaser.com/nacional/2022/07/14/maria-jesus-montero-en-hoy-por-hoy-cadena-ser/
RT @ojblanchard1: A new paper by Summers, Domash, and me. https://bit.ly/3ay0g7V The unemployment rate is very low, the vacancy unemployment ratio is exceptionally high. We show that this is the sign not just of high activity, but of worse matching in the labor market. This has two implications:
Un millón de ucranianos deportados a Rusia. Masacres, ataques a civiles, secuestro de niños, hambruna mundial. Estas son las armas de Putin.
Y muchos en occidente abiertamente dudando si vale la pena apoyar a Ucrania. Sí, debemos y podemos ayudar a Ucrania.
RT @washingtonpost: Russia has deported 900,000 to 1.6 million Ukrainian citizens from Russian-occupied regions of Ukraine in a systemic “filtration” operation, U.S. Secretary…
Señora Aizpurua, las palabras se las lleva el viento: le ha faltado "pedimos perdón a las víctimas y prometemos no organizar ni participar jamás en ningún homenaje a asesinos". El día que usted diga esto, empezaremos a creer en su "pesar y dolor por las víctimas"
RT @eldiarioes: 🔴 DIRECTO | Mertxe Aizpurua (EH Bildu): "Queremos trasladar nuestro pesar y dolor a las víctimas de ETA. Nada de lo que digamos puede cambiar el pasado, per…
@arbronca Pero si están los números en el gráfico! Mire el gráfico antes de decir burradas!
Gran visualización!
De los siguientes 1000 bebés que nazcan:
- 52 serán europeos
- 30 estadounidenses
- 47 pakistaníes
- 57 nigerianos
- 103 Chinos
- 172 indioss
RT @simongerman600: A nice way of “rephrasing” projected population growth figures into a catchy map. Lovely piece by @PratapVardhan
RT @OlegUstenko: This means Russia will still receive around $200 billion from the sale of Russian oil and gas. Take a moment and just imagine how many weapons, how much ammunition they can buy with this money. Enough is enough, the world must act NOW! #FossilFuelsFundWar
@JeremyCliffe 1) He is probably the smartest, as measured by test performance (Oxford&Stanford entry)
2) He is actually willing to discuss the true, and not the imaginary, fiscal position of the UK
3) He does not believe Turkey about to enter EU (!)
Muy buena noticia: Barcos esperando a recoger grano ucraniano en el Delta del Danubio. La toma de la Isla de la Serpiente ha cambiado radicalmente las condiciones de navegación.
RT @DimitarBechev: Danube's delta right now. Ships loading grain at Izmail, Ukraine's port on the Danube. Taking Snake Island has made a difference. H/t Danail Glishev
RT @charliebilello: Global Inflation Rates...
RT @johnauthers: The #CPI numbers keep getting worse on closer inspection. This is the Cleveland Fed's Trimmed Mean Inflation (excluding biggest outliers in either direction). It's at a new record. Series goes back to 1984
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
