This is what happens when you in constant denial of a problem. It gets on top of you. The FT reports this morning that corporate customers have been pulling out their deposits from Irish banks, amid signs of fading confidence in the banking system. Irish Life & Permanent said corporate customers had withdrawn €600m, more than 11% of total deposits, during August and September. The FT report says there is evidence that another deposit crunch is happening right now, as confidence faded that the Irish banking sector is able to fund itself if, and when the ECB scales backs its emergency funding. But even the ECB funding had not been sufficient as Irish central bank had to provide €20bn in exceptional liquidity assistance outside the ECB programme. And, wait for it, Brian Lenihan, the Irish finance ministers, tells the world that the Irish banks had no funding difficulties.
(via Eurointelligence)
(sublinhados nossos)
And the dreamers? Ah, the dreamers! They were and they are the true realists, we owe them the best ideas and the foundations of modern Europe(...). The first President of that Commission, Walter Hallstein, a German, said: "The abolition of the nation is the European idea!" - a phrase that dare today's President of the Commission, nor the current German Chancellor would speak out. And yet: this is the truth. Ulrike Guérot & Robert Menasse
quinta-feira, novembro 18, 2010
Começou a corrida aos bancos na Irlanda?
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