The leaders of the lower chambers of parliament of Germany, Italy, France, and Luxembourg have called for a European “Federal Union” in an open letter published in Italian newspaper La Stampa on Sunday.
Submitted by Mike Shedlock via MishTalk.com,
Eurozone Target2 imbalances have touched or exceeded the crisis levels hit in 2012 when Greece was on the verge of leaving the Eurozone. Others have noted the growing imbalances as well.
I had a couple of questions for the ECB regarding Target2, which they have answered, I believe disingenuously.
First, we will explain Target2, then we will take a look at various charts, viewpoints, and the email exchange with the ECB.
Target2 Background
One day after president Trump remarked in a speech at a conference that a friend thought
"Paris is no longer Paris" after attacks by Islamist militants, French President Francois Hollande fired back at Donald Trump on Saturday. During a speech at the Conservative Political Action Conference on Friday, Trump repeated his criticism of Europe's handling of attacks by Islamist militants saying a friend "Jim" no longer wanted to take his family to Paris.
As French voters look set to make a massive swing to the right in their upcoming presidential election (see our notes on the topic here and here), a group of frightened liberal protesters have decided to back a relatively surprising, if impossible, presidential candidate in 2017, Barack Obama.
And, lest you thing this is a joke, a quick walk around Paris even reveals campaign posters for "Obama17" plastered all around the city.
Submitted by Saxo Bank's Martin O'Rourke via TradingFloor.com,