Draghi & ECB Want to Regulate British Banks doing biz in the Eurozone

Mario Draghi

The ECB is living itself in La La Land. It is demanding that British Banks wishing to do business inside the Eurozone after BREXIT must obtain a license. While this is the same type of requirement for any foreign bank seeking to do business in the USA, the idea that the ECB wants to make sure that British banks are solvent is rather absurd. The reason Euro based banks are in danger of insolvency is because they are euro based bonds of all members as reserves. The British banks remained in British pounds and are head & shoulders above their Eurozone counterparts.

Latest Posts

Jerome Powell on Stagflation

“I don’t see the ‘stag’ or the ‘-flation’,” Fed Chairman Jerome Powell said during his Wednesday address. Powell believed inflation would be “transitory.” He believed that the economy would come [...]
Read more

PRIVATE BLOG – Interest Rates & Fed Policy

PRIVATE BLOG – Interest Rates & Fed Policy Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com. https://ask-socrates.com/
Read more