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☆ Gabon coup: How France's neo-colonial empire in its former territories is disintegrating
▼ + stars: | 2023-09-01 | by ( Stephanie Busari | ) edition.cnn.com time to read: +10 min

A torn campaign billboard shows ousted Gabon President Ali Bongo Ondimba in Libreville on August 31, 2023. AFP/Getty ImagesPropping up ‘democratic dictators’Whilst the international community has condemned the coup in Gabon, it has not attracted the same vehement criticism that last month’s coup in Niger did. French Prime Minister Elisabeth Borne said France was watching the coup d’etat in Gabon “with the utmost attention.”It presents a challenge to France. Large crowds supporting the coup gathered Sunday near the French military base in Niamey, with demonstrators displaying signs demanding French troops withdraw. “The systems of government that former French colonies have, which were imposed by Paris are no longer fit for purpose.

Persons: Leon, Charles de Gaulle, Gaulle, Bongo, jubilation, General Brice Oligui Nguema –, Bongo’s, Nourredin Bongo Valentin, ”, Ali Bongo Ondimba, ’, Oluwole, Elisabeth Borne, Chris Ogunmodede, that’s, Paul Biya, Ogunmodede, ” Ogunmodede, …, ” Ojewale, “, Ndongo Samba Sylla, Emmanuel Macron, Macron Organizations: CNN, Military, Gabonese, Agence France, Presse, Gabon, Getty, Institute of Security Studies, autocrats, Central African, CFA, Banque de France, “, Macron Locations: Gabon, France, Gabon’s, Libreville, AFP, Niger, Gabonese, West, Central Africa, Mali, Senegal, Dakar, ”, Niamey, Paris, Congo Brazzaville, Equatorial Guinea, Cameroon, Switzerland, Africa, Russia, Commonwealth, Togo, Macron France, Nigeria, “ Africa

☆ Niger: Africa's latest coup is a headache for the West and an opportunity for Russia
▼ + stars: | 2023-08-03 | by ( Stephanie Busari | ) edition.cnn.com time to read: +11 min

An important Western allyThe coup in Niger has deprived Western nations, particularly France and the United States, of a key ally in a troubled region. The largest country in West Africa, Niger had been touted as a democratic success story on the continent and Bazoum was seen as a crucial partner in the fight against Islamist jihadists in the region. Carley Petesch/AP/FileThe French military also maintains two permanent bases in the Sahel region, one of which is in Niamey. “The former colonizers are trying to keep the people of African countries in check. Russian President Vladimir Putin, right, and President of the Republic of South Africa Cyril Matamela Ramaphosa shake hands on the sideline of the Russia Africa Summit.

Persons: Mohamed Bazoum, Putin, France ”, Emmanuel Macron, “, Bazoum, Joe Biden, Washington “, Stringer, Wagner, Yevgeny Prigozhin, jihadists, Carley Petesch, ” Maman Sani, Oluwole Ojewale, …, ” Ojewale, ” Françafrique, Remi Adekoya, ” Adekoya, ” Wagner, Prigozhin, ” Prigozhin, Vladimir Putin, Republic of South Africa Cyril Matamela Ramaphosa, Mikhail Metzel, Ibrahim Traore, ”, ” Traore, Ojewale Organizations: CNN, West, Kremlin, ISIS, Africa Center, Strategic Studies, European Union, World Nuclear Association ., Institute for Security Studies, Central African, CFA, Banque de France, UK’s York University, Russia Africa Summit, ISS Locations: Niger, Niamey, France, Paris, United States, Western, Africa, Russia, Moscow, Russian, Mali, West Africa, Nigerien, al Qaeda, US, Agadez, Sahel, Burkina Faso, West, Central Africa, China, Ukraine, Sudan, Central African Republic, Mozambique, Libya, St . Petersburg, Somalia, Uganda, Zimbabwe, Republic of South Africa

☆ Central bankers face a balance sheet reckoning
▼ + stars: | 2023-05-26 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

LONDON, May 26 (Reuters Breakingviews) - Central banks’ balance sheets have exploded in size since 2008. That’s not a problem, we’re told, since central banks are not bound by ordinary accounting rules. Ferguson and his colleagues examined fourteen central bank balance sheets over a period of 400 years. Central bank hawks on the other hand, are typically slow to expand their balance sheets during crises. Central banks with weak balance sheets are less credible bastions of a fiat currency.

☆ Bundesbank convenes crisis team to assess SVB fallout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, March 13 (Reuters) - The Bundesbank convened its crisis team on Monday to assess the possible fallout of the collapse of U.S. lender Silicon Valley Bank on the local market, even as no emergency action was foreseen in Europe. U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank (SIVB.O) threatened to trigger a broader financial crisis. In the euro zone decisions are made by national supervisors for smaller banks and by the European Central Bank's Single Supervisory Board for large ones. He also noted euro zone banks generally had a more conservative mix of assets than Silicon Valley Bank, which mostly lent to risky tech startups. The source saw no direct implication of the SVB collapse for euro zone banks but cautioned this could change if the fallout in the United States extended to bigger banks, raising the risk of contagion.

FRANKFURT, March 1 (Reuters) - The European Central Bank's top three shareholders charted different paths for interest rates on Wednesday, in a preview of the difficult debate awaiting the ECB in the coming weeks. Bundesbank President Joachim Nagel appeared to back those expectations, anticipating "further significant interest rate steps" after March, when the ECB has already pencilled an increase worth half a percentage point. "The interest rate step announced for March will not be the last," Nagel, a policy hawk who favours higher rates, said in a speech. "Further significant interest rate steps might even be necessary afterwards, too." Based on national data out already, Barclays predicted that underlying inflation could accelerate to 5.4% from 5.3%.

☆ ECB's Villeroy says markets 'overreacted' with rate hike bets
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Feb 22 (Reuters) - Investors betting on more interest rates hikes by the European Central bank have 'overreacted' to strong U.S. data and ECB communication since last week, the Banque de France Governor said in an interview published on Wednesday. "There is an excess of volatility in the terminal rate expectations," François Villeroy de Galhau told French daily Les Echos. "Put differently, markets have overreacted a little since Thursday." Villeroy said that peak interest rates could be reached by the end of the summer but the ECB was under no obligation to raise rates at each of its meetings until September. Reporting By Francesco CanepaOur Standards: The Thomson Reuters Trust Principles.

☆ European Central Bank set for 50 basis point rate hike on hopes that inflation has peaked
▼ + stars: | 2022-12-14 | by ( Annette Weisbach | ) www.cnbc.com time to read: +1 min

Quantitative tightening, or QT, could see the ECB shrink its gigantic bond portfolio. "We expect the ECB to raise its policy rates by 50 bp at the December meeting," said Michael Schumacher, an ECB watcher with Natixis, in a recent research note. "We also expect an announcement of Quantitative Tightening next year, though the ECB is unlikely to provide a specific start date at this point." Another hot topic for the ECB's Governing Council, which concludes its meeting Thursday with a press conference, will, of course, be inflation and possible peak inflation. "While Inflation likely peaked in October, we see core inflation lingering above 5% until mid 2023 before trending lower," said Anatoli Annenkov at Societe Generale in a recent research note.

☆ French, German central bank chiefs urge faster pace on EU capital markets union
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

PARIS, Nov 14 (Reuters) - The war in Ukraine, inflation and the energy crisis have made it more important than ever to press ahead with a capital markets union to finance green and digital transitions, the governors of the French and German central banks said on Monday. "Europe is at the heart of the crisis: Russia’s war against Ukraine, energy crunch, inflation. France and Germany have been at loggerheads over the last month and have postponed a summit to try and resolve their differences. The two said it was vital that the 2015 capital markets union (CMU) initiative launched by the European Union needed to press ahead for financial stability to foster the geographical diversification of funding sources and by strengthening private sector risk sharing through the development of equity funding. "Completing the capital markets union is certainly a long-distance run.

☆ FTX's Sam Bankman-Fried breaks down his 3 favorite use cases for blockchain tech — and explains the role of regulatory oversight in crypto markets
▼ + stars: | 2022-10-13 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried, also known as SBF, is the CEO and cofounder of crypto giant FTX. Sam Bankman-Fried, the CEO and cofounder of crypto giant FTX, broke down three blockchain use cases in an interview at the Bipartisan Policy Center on Wednesday. In traditional equities, per Bankman-Fried, buying a share of a company can take an exuberant amount of time. Crypto regulation is 'necessary' and 'good'The 30-year-old billionaire welcomes regulation, specifically citing clear stablecoin oversight. "Crypto is big enough and starting to touch enough things that it is important to have regulatory oversight. "

☆ Crypto regulation laggards spur arbitrage risk - French central banker
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterFrancois Villeroy de Galhau, Governor of Banque de France, attends the Paris Europlace International Financial Forum in Paris, France, July 12, 2022. REUTERS/Benoit TessierPARIS, Sept 27 (Reuters) - Countries that are slow to build up regulations for crypto assets could create arbitrage risks that players operating globally could exploit, the head of France's central bank said on Tuesday. read moreBut crypto assets, such as cryptocurrencies like bitcoin, are largely still unregulated globally. "We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late," Villeroy told a conference on digital finance in Paris. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Leigh Thomas.

☆ The British pound is cratering against the dollar. Here's everything you want to know.
▼ + stars: | 2022-09-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

I'm Phil Rosen, and economic signals from our colleagues across the pond are deep in the red to start the week. No frills or tomfoolery today, out of fear that the pound will drop further before we get to the news. FILE PHOTO: British five pound banknotes are seen in this picture illustration Reuters1. Even after its third consecutive 75-basis-point hike last week, all signs point to more to come. What do you think is the Bank of England's best option to stop the pound from falling further?

☆ Stocks could continue skittish trading until interest rate move calms down
▼ + stars: | 2022-09-23 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

The S & P 500, Dow and Nasdaq were all down sharply for the week. The S & P was down 4.6%, ending the week at 3,693. Fed Vice Chair Lael Brainard , St. Louis Fed President James Bullard , San Francisco Fed President Mary Daly and Fed Governor Michelle Bowman are among the speakers. Other global central banks joined the Fed in raising rates, and interest rates around the world rose in tandem. If those levels break, the S & P could touch 3,385 before the selling is over, he said.

☆ ECB seeks to cut subsidy to banks as rate hikes leave it on hook, sources say
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +4 min

Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. To fight runaway inflation, the ECB has raised the rate it pays on the 4.6 trillion euros ($4.5 trillion) worth of banks' reserves that exceed requirements from -0.5% to 0.75% in less than two months. The ECB might also change the terms of TLTRO loans, although this would potentially damage the credibility of future programmes and invite legal challenges, the sources added. Any such move is likely to displease banks and might even land the ECB in court. Dutch bank ING saw "disrupting effects on Italian money markets" if the ECB stopped remunerating part of the money borrowed by Italian banks under TLTRO.

☆ Минфин перевел Додону на счет в России €20 млн? Что с этим не так
▼ + stars: | 2020-11-12 | by ( ) newsmaker.md time to read: +2 min

В соцсетях появилась информация о том, что со счетов Госказначейства якобы перевели €20 млн на счет президента Игоря Додона в России. x11 ноября в соцсетях появилось фото якобы банковской выписки, из которой следовало, что Госказначейство со своего счета в Нацбанке перевело €19,98 млн на личный счет Игоря Додона, выделенный на счете московской компании «ПЭО» в российском «Альфа-Банке». Сразу после появления этой информации министерство финансов распространило пресс-релиз, в котором говорится: «Минфин опровергает информацию, согласно которой со счетов Госказначейства минфина перевели на личный счет Игоря Додона €20 млн». Странно и то, что речь идет о счете Додона на банковском счете компании «ПЭО». Это компания сына экс-генпрокурора России Игоря Чайки и брата президента Александра Додона, которая занимается переработкой мусора.

Persons: SWIFT, Игорь Додон, Додон, Игорь Чайка, Александр Додон, Вячеслав Негруца, Негруца Organizations: Banque de France, Transparency, Banca, Госказначейства, Минфин, Госказначейство, Нацбанк, ПЭО, АльфаБанке, Центробанк Locations: ., Banque, —, Россия, Франция

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