Involvement in The European Sovereign Debt Crisis
In June 2012, it was estimated that the Bundesbank had Euro 644 billion exposure to other central banks in the eurozone under the TARGET2 payment system. Only three other eurozone central banks had net exposure from the system; all others had the offsetting net exposure due to the system. The net exposure finances trade imbalances and capital flight. The Bundesbank is the largest shareholder of the European Central Bank. The ECB has bought up more than €200 billion in sovereign debt from crisis-ridden countries. Some of this would have to be written off in the case of a euro collapse, which would entail corresponding losses for the Bundesbank.
Read more about this topic: Deutsche Bundesbank
Famous quotes containing the words involvement in the, involvement in, involvement, european, sovereign, debt and/or crisis:
“The mother whose self-image is dependent on her children places on those children the responsibility for her own identity, and her involvement in the details of their lives can put great pressure on the children. A child suffers when everything he or she does is extremely important to a parent; this kind of over-involvement can turn even a small problem into a crisis.”
—Grace Baruch (20th century)
“The glorious dream of full father involvement in infant care will not become a widespread reality overnight. But it can happen, and it eventually will happen,... A lot of progress may take place in a short period of time if we just lighten up, step back, and give the guys a decent chance.”
—Michael K. Meyerhoff (20th century)
“In the planning and designing of new communities, housing projects, and urban renewal, the planners both public and private, need to give explicit consideration to the kind of world that is being created for the children who will be growing up in these settings. Particular attention should be given to the opportunities which the environment presents or precludes for involvement of children with persons both older and younger than themselves.”
—Urie Bronfenbrenner (b. 1917)
“When the inhabitants of some sequestered island first descry the “big canoe” of the European rolling through the blue waters towards their shores, they rush down to the beach in crowds, and with open arms stand ready to embrace the strangers. Fatal embrace! They fold to their bosoms the vipers whose sting is destined to poison all their joys; and the instinctive feeling of love within their breasts is soon converted into the bitterest hate.”
—Herman Melville (1819–1891)
“Every new sovereign brings his own ministers.”
—Chinese proverb.
“Capitalism is an art form, an Apollonian fabrication to rival nature. It is hypocritical for feminists and intellectuals to enjoy the pleasures and conveniences of capitalism while sneering at it.... Everyone born into capitalism has incurred a debt to it. Give Caesar his due.”
—Camille Paglia (b. 1947)
“It is necessary to turn political crisis into armed crisis by performing violent actions that will force those in power to transform the military situation into a political situation. That will alienate the masses, who, from then on, will revolt against the army and the police and blame them for this state of things.”
—Carlos Marighella (d. 1969)