Daniela Gabor on Financial Globalization, Capital Controls, and the Critical Macrofinance Framework
Macro Musings with David Beckworth
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Europe Is Highly Reliant on Ripo Financiing
In the 19 nineties in europem, there was a pressure from both us and base financial institutions to liberalize. The bundes bank and the bank of england initially resisted this porsion. France very quickly accepted that to create a legal regime around ripo liabilities which insured legal ownership of collateral for the ripo lander. In germany they were afraid that entering the uro area with france would basically get ahead of them and become the safe asitissure for the urozone.
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