ciao, no l'efsf è già stato votato e approvato dai parlamenti.. quindi basta farlo partire..
certo
Ho trovato, anche se non l'articolo che avevo letto, ricordavo male, si tratta di bastoni fra le ruote non di ritardi:
Bundesverfassungsgericht risk — again
Posted by Joseph Cotterill on Oct 28 11:22. Comment.
Today in epic Reuters flashes:
Just another EFSF tape-bomb from the German constitutional court!
In its last foray into the financial headlines, the court approved Germany’s role in EFSF bailouts, but laid out the condition that the Bundestag has a say on this through a special committee, to confer when the EFSF acts on financial markets. Two MPs from the opposition SPD have now lodged complaints that the committee would harm the full Bundestag’s powers to vote on budgetary powers. Der Spiegel reports that they might have technical advice from the Bundestag backing them up.
Anyway, the court has injuncted the committee from working until it decides on the complaint, which the court has promised will be before Christmas. So we might have the prospect of the full 622-member Bundestag scrutinising EFSF bond-buying on a pretty specific basis.
Contrast this with what the draft guidelines on these purchases say:
The EWG/EFSF Board of Directors technical sub-committee, including the ECB, sets pro-tempore intervention caps, designs an intervention strategy and decides on the daily tactics for portfolio managers in a secret way. It will report on a weekly basis on the conduct and volume of the operations to the EWG/Eurogroup. Where necessary, restricted committees in National Parliaments will be regularly involved.
It is not clear if the committee would have needed to rule on daily tactics, but any approval of intervention levels for Italian debt will probably have to be done in private — to prevent front-running in markets (or to avoid giving investors information on where EFSF buyers see ‘acceptable’ Italian yields). Leaving it to 622 politicians would definitely present problems in this regard. It’ll also simply worry investors that not only might the fiscal balance sheet backing of the eurozone rescue lack proper resources, it’s seriously lacking in the ability to deploy them.
Worth remembering when the 10-year benchmark Italian bond is trading with a yield just shy of 6 per cent…
Related links:
Bundesverfassungsgericht risk – FT Alphaville