German Banks on Top

The implicit subsidy to banks means that German banks have an advantage over those of other countries.

German taxpayers have paid dearly for German banks mistakes.

None of this means that banks should be granted a regulatory holiday and forget the need to recapitalize.

Debt write downs and guarantees will inevitably bloat Germany s government debt, as the authorities are forced to bail out German banks (and probably some neighboring countries banks).

Europe on Holiday

Events, Places, Vacation

As a result, German banks have a lower cost of funding and all else being equal higher profitability.

Since June 2008, German, British, and French banks have withdrawn 253 billion worth of credit from Irish banks and other Irish borrowers 70 of the total foreign funds withdrawn.

Sami deserves a little holiday.

Sami went on vacation.

I wish members a wonderful holiday break.

What is the logic of this crazy carousel? German banks hold at least 48 billion in Irish bank debt, British banks hold another 31 billion, and French banks hold 19 billion.

Next Thursday is a holiday.

I'm not taking a vacation this year.

Next Monday and Tuesday are holidays.

Start of the jubilee weekend.

Happy Holidays from the Tdanszana family .

It is time for me to take a vacation.

The municipal holiday is the June 24.

Or a weekend in Paris?

We are playing tennis this weekend.

What'll you be doing over the weekend?

I wish summer break would hurry up and get here.

How about a Caribbean holiday?

Sami came for the weekend.

There were also summer holidays.

The Treaty also introduced a 'building holiday'.

My mother's house, where I'm spending Christmas.

A weekend of killing in Amhara and Oromia

Because it was summer vacation, I took a trip.

It was the number one movie of the weekend.

It is a Sabbath of solemn rest to you, and you shall afflict your souls it is a statute forever.

It shall be a sabbath of rest unto you, and ye shall afflict your souls, by a statute for ever.

I wish all members a restful weekend.

Moreover, they must maintain an extensive and thus expensive domestic retail network to collect the savings deposits from which they are not profiting.

Tourists poured into Karuizawa during the summer vacation.

There is a summer recess and scheduled breaks between terms.

German banks might be able to issue securities at very low rates, but these rates are still higher than what they earn on their ECB deposits.

If German banks drop out of the refinancing business, the European Central Bank will lose the direct control over the German economy that it used to have via its interest rate policy.

As the economists Maurice Obstfeld and Galina Hale recently noted, German and French banks earned large profits intermediating flows between Asian savers and Europe s periphery.

'So on the fifteenth day of the seventh month, when you have gathered in the fruits of the land, you shall keep the feast of Yahweh seven days on the first day shall be a solemn rest, and on the eighth day shall be a solemn rest.

Also in the fifteenth day of the seventh month, when ye have gathered in the fruit of the land, ye shall keep a feast unto the LORD seven days on the first day shall be a sabbath, and on the eighth day shall be a sabbath.

German

Debt write downs and guarantees will inevitably bloat Germany s government debt, as the authorities are forced to bail out German banks (and probably some neighboring countries banks). But the sooner the underlying reality is made transparent and becomes widely recognized, the lower the long run cost will be.