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)
“Juggling produces both practical and psychological benefits.... A woman’s involvement in one role can enhance her functioning in another. Being a wife can make it easier to work outside the home. Being a mother can facilitate the activities and foster the skills of the efficient wife or of the effective worker. And employment outside the home can contribute in substantial, practical ways to how one works within the home, as a spouse and as a parent.”
—Faye J. Crosby (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)
“Unsophisticated and confiding, they are easily led into every vice, and humanity weeps over the ruin thus remorselessly inflicted upon them by their European civilizers.”
—Herman Melville (1819–1891)
“My maiden Isabel,
Reflaring rosabel.
The fragrant camomel;
The ruddy rosary,
The sovereign rosemary,
The pretty strawberry;
The columbine, the nept,
The jelofer well set,
The proper violet:”
—John Skelton (1460?–1529)
“Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.”
—Rutherford Birchard Hayes (1822–1893)
“... what’s been building since the 1980’s is a new kind of social Darwinism that blames poverty and crime and the crisis of our youth on a breakdown of the family. That’s what will last after this flurry on family values.”
—Stephanie Coontz (b. 1944)