Paul Jorion's Blog

Tag: Mario Draghi

LOTS OF FROTH, by François Leclerc

Guest post. Translated from the French by Tim Gupwell

A brand new development in the history of the ECB has occurred: leaks yesterday revealed the broad outlines of its new sovereign debt securities’ purchase programme. One cannot help thinking that it was necessary to prepare the ground in advance, with the ECB decisions…

September 7, 2012
MARIO DRAGHI: WHAT IF IT WAS ALL A TERRIBLE MISUNDERSTANDING?

Translated from the French by Tim Gupwel.

A short while ago, I was taking a siesta, sleeping with a sound conscience, when I woke up with a start, my heart beating wildly, my forehead soaked with sweat and prey to a strong emotion:…

July 30, 2012
THE RESULT OF UNRAVELLING A BALL OF WOOL… FROM THE WRONG END, by François Leclerc

Guest post. Translated from the French by Tim Gupwell

François Hollande has confirmed that the Government is going to propose for adoption an organic law (which a simple law cannot undo) in order to have the balanced budget rule adopted, on the advantageous pretext that it is provisional. There have been many occasions…

July 17, 2012
DO YOU KNOW WHAT SCHMILBLICK IS ?, by François Leclerc

Guest post. Translated from the French by Tim Gupwell

We recently touched on the quartet engaged in drawing up a composite motion, in order to faire avancer le schmilblick (= to move the schmilblick forward, or in other words to make a limited contribution to solve a complex problem). Before describing…

June 27, 2012
AFTER THE WORDS, THE MAGIC FORMULA…, by François Leclerc

Guest post. Translated from the French by Tim Gupwell

What can you say when you are in total disagreement? You can always assert, with one voice, the need for a union! This is this perspective that the quartet composed of José Manuel Barroso, Mario Draghi, Jean-Claude Juncker and Herman Van Rompuy (in alphabetical…

June 26, 2012
BACK FROM LOS CABOS, by François Leclerc

Guest post. Translated from the French by Tim Gupwell

Given that the G20 has confined itself to mere generalities and that the European Summit on the 28^th and 29^th June is dangerously close, what can be expected of the meeting in Rome on the 22^nd June between Angela Merkel, Mario Monti, Mariano Rajoy…

June 20, 2012
A HUNDRED BILLION EUROS FOR SPANISH BANKS, by François Leclerc

Guest post. Translated from the French by Tim Gupwell.

It was no longer possible to carry on. Two and a half hours of videoconference between the Eurozone’s finance ministers (joined by Christine Lagarde on behalf of the IMF) were needed to finalize the scheme, allowing the German and Spanish governments to save face.…

June 10, 2012
NEVER CHANGE A WINNING TEAM !, by François Leclerc

Guest post. Translated from the French by Tim Gupwell.

The headline in the newspaper Welt am Sonntag, the Sunday edition of the German daily Die Welt, revealed “a secret plan for a new Europe” put together by Hermann Van Rompuy, Jean Claude Juncker, Mario Draghi and José Manuel Barroso, the leaders of the…

June 4, 2012