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April’15 Financial & Fiscal Features Newsletter

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Bank for International Settlements has labelled the impact of recent European quantitative easing as “unprecedented”. Worrying effects are not only the negative interest rates, but also very high price volatilities of asset. This development may soon hit not only economic, but also legal and even political boundaries. The Austrian federal state of Carinthia continues to suffer from its long engagement with the Alpe Adria bank, which actually predates the recent crisis. Instead of making a quick cut liquidation after a bail-in, it is hoping to recover some assets in a dragged out wind-down process. It is to be seen whether this prolonged exposition to further claims will prove successful.

iref_fffn_15-04.pdf “Financial and Fiscal Features” Newsletter is a monthly publication by the IREF. It brings latest inside information from the world of central banks and financial markets, both of which are increasingly intertwined with fiscal issues. You can find the latest issue in the .PDF file. It can be either read on your screen/e-reader or printed out. You can print it out either on normal A4 sheets or on a single double-sided A3 which can be folded to make a simple “newspaper”. The last page has been specially formatted so that it can be printed separately on a self-standing single sheet and pinned to a public notice-board at your place of work or learning, if you think it is appropriate and if you think others would also benefit from what we have to say.

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