Some personal news. After 5 years I am moving on from the
#ECB
beat to join
@FTAlphaville
, where I'll be writing about the global economy. Tips and ideas on what to write about are welcome.
The excellent
@MAmdorsky
will be replacing me here in Frankfurt.
Our
@FT
interview with Mario
#Draghi
, on modernising the
#ECB
, doing 'whatever it takes', and why central banks can no longer be the only game in town. via
@financialtimes
Me and
@jsphctrl
on the mechanics behind central bank reserve management, and how sanctions can disrupt them.
Russia’s FX reserves slip from its grasp via
@FTAlphaville
My stint in DC is now done. Back in London today to resume my role as global economy news editor. Looking forward to catching up with colleagues and contacts!
My first
@FTAlphaville
post. Pleased to see there's already a fight brewing among the commentariat.
Markets to Germany: “Please borrow”. Germany: “Nein.” via
@FinancialTimes
"It is easy to look across at Germany’s wry, sensible and yet unfathomable chancellor and ask: why can’t we be more like them? The complicated answer begins with recognising that 'they' are far more than just Merkel."
@JeremyCliffe
on great form here:
1/2 Appreciate there are a lot of concerns about inflation right now and the risk of a wage-price spiral, but it’s worth remembering that for decades now Germany’s economic competitiveness has come at workers’ expense…
An hour from now
@FTAlphaville
will be hosting the great
@adam_tooze
on Twitter spaces. We'll be asking him about policymakers' response to the pandemic and what lies ahead for the world economy. Join us here…
An economist involved in paper on links between World Bank aid and corruption has now published it online. Bank has now said it is accepted for conditional publication. Link and full story here:
🇹🇷 CBRT MPC Meeting, 18 Aug'22 - The Central Bank of the Republic of Turkey cut the policy rate (1-w repo auction rate) by 100 basis points to 13%.
#T
ürkiye
#CBRT
#mpc
#policy
#rate
Hundreds of thousands of seafarers have found themselves stuck as a result of the pandemic. Here are the stories of two captains about how the crisis has affected life onboard. via
@financialtimes
The backlash against higher rates has begun. The World Bank has said central banks' supersize rises – and lack of coordination – risks tipping the global economy into recession next year. Here's
@ChrisGiles_
's take:
Astonishing stat from this must-read interview with Bruno Le Maire by
@labboudles
,
@SarahWhites
and
@patrickjenkins_
We are in an era where fiscal and monetary policy are increasingly out of sync.
This, from
@izakaminska
, on why it makes more sense for creatives to sell NFTs on a YouTube-like centralised platform than the blockchain, is amazing...
A big loss to the FT - the best writer bar none on all things financial-plumbing related and I've lost count of the times you were ahead of the curve. We will miss you too
@izakaminska
I start my last day at the FT knowing this is how my
@ftalpha
colleagues see me.😬Thanks guys! It’s been a hoot. Will miss u all immensely. 🥲🥲 and a big thank you to
@jemimajoanna
for finally getting something in on deadline (My leaving page) &
@ajb_powell
for his chart crime.
Since 2010, Liverpool has been battered by an austerity agenda that has had a shocking impact
For months we’ve been working on a special visual investigation to show what this has meant for the city and its people
This is Liverpool: Austerity City
During lockdown, Anfield‘s
@HomebakedA
was optimistic it could emerge from the pandemic stronger? Almost a month into re-opening, has it?
@sawatkiss
@TheWomensOrg
Since the pandemic began, demand for consumer durables has been rampant. Instead of bemoaning supply chain logjams, we should be giving the longshoreman a great big hand. Me for Trade Secrets:
The US’s and Europe’s decision to freeze some $300bn of Russian central bank assets was a Rubicon-crossing moment. Now,
@gideonrachman
writes, some Davos delegates are concerned this and other sanctions may have unintended consequences…
We're all on the lookout for signs that banking turmoil could begin to impact growth. But many financial crises have left the economy largely untouched. How can we tell if, six months from now, we will have all moved on from SVB? My column for Free Lunch:
This is quite a proposal from Hildebrand. And while this doesn't look like it is on the cards right now, he still has the ear of many European officials -- at least at those at the central banks.
The effort to replace dollar Libor is beset with complexity. I wrote about a couple of the issues. One is that there are a whole load of rates vying to replace the benchmark:
Great question to Weidmann by
@jphlacour
just now, asking what musical reference he would use to describe his optimal monetary policy. "Honestly, I hadn't really thought of punk so far, and when I look around the Governing Council I'm not sure it's such a suitable analogy."
Things really get moving. The
@ecb
establishes a Climate Change Centre. The
@federalreserve
creates a new Supervision Climate Committee. All on the same day!💪
"Cities will not die, but their benefits could become more diffuse... The government’s job is to ease this transition, not to harangue people into going back to a world that wasn’t working anyway."
@sarahoconnor_
on fine form on the Pret economy's death.
Very important
@handelsblatt
story on the race for next ECB chief. Weidmann needs Berlin's backing, but a push for Commission job makes sense given Merkel's economic priorities are more in areas like education and digitalisation.
“'The north' is not culturally arid, or grim, or ignorant: it is a huge and varied region filled with people doing their best to thrive in a range of unjustly adverse circumstances.' 👏👏👏
2/2 …I don’t think German workers getting a fairer share of the spoils of the country’s economic success is a bad thing. In fact, them not doing so, is not in the long term interests of the ECB and certainly not German and European society.
@chapotts
Not sure what the 🤦🏼♀️ is in aid of. She is not invading anyone’s space or being aggressive. As a nurse, she has no doubt had a lot on her plate these past few months. And as a broadcaster wasn’t this exactly the sort of ‘Brits going crazy’ footage you were after anyway?
My attempt at filing in for the great
@MESandbu
on his must-read Free Lunch newsletter, explaining how the Fed's rate rises have caught out not only markets, but heaped pressure on governments and other central banks.