ECB Purchased 14.291 € Billion Of Bonds

The European Central Bank (ECB) announced Monday it had bought for 14.291 billion Euros of government bonds of countries in the euro area from 11 to 17 August. Its previous "purchases" were $ 22 billion the previous week. The ECB also held Tuesday a tender for deposits to a week to absorb excess liquidity caused by these operations.

August 19, its purchases of government bonds totaled 110.5 billion Euros, these measures within the scope of its outstanding program reactivated in August. Even if the ECB did not want to disclose more information about the origin of the securities purchased, it seems that the Central Bank has acquired principally Spanish and Italian bonds, continuing its policy last week.

Not surprisingly, when it's soaring rates applicable to the debt of Spain and Italy leading the institution to reactivate its procurement processes of public debt, in order to try to contain the contagion of the crisis. Overall, the ECB has bought 110.5 billion euros of shares since May 2010.

Was The United States Victim of The Collapse Of Euro?

The Euro, the fall guy accused of all evil.... Including the US markets tumbled? Not avoiding any scheme - as heavy as it is - Alan Greenspan, former chairman of the U.S. central bank (Fed) said in Washington that the euro was "decaying”.... Even better than the misadventures of the European currency was explaining the current difficulties in the U.S. economy.

Not life grand? Still, many Americans could join forces with his words ... history to find a culprit. According to Greenspan, European banks are in trouble because they hold debt securities in countries such as Greece. "The reason we are so slow is the level of uncertainty" caused by this situation, he said bluntly in an analysis still a bit fast....

A few days ago, Jacques Delors, former president of the European Commission - who initiated the single market - and former Minister of the French economy has in turn criticized the policy of the leaders of the euro against the current crisis. Believing nothing less than the single currency and the European Union would be "the brink".

History to put the record straight ... Still remembers that Alan Greenspan was one of the main instigators of financial deregulation in the United States. Which is widely considered to have “contributed” to the outbreak of the crisis?

The former head of the Fed, however, still dismissed the "allegations" of economists saying that the policy of low rates led the Fed from 2003 to 2005 is largely responsible for the housing bubble, which burst caused an unprecedented crisis.

Life Insurance Fact Check

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Germany was it in turn impacted by the crisis in European Union?

Indeed, the Zew barometer that measures the confidence of German financial circles in the country's economic outlook for the next six months, has again declined in August, for the sixth time in a row. The barometer has reached Zew - 37.6 points in August, after posting - 15.1 points in July.

The fact is all the more striking that the index had not fallen as sharply since October 2008, during which he had lost 21.9 points from the previous month, hit hard by the impact of the bankruptcy of Lehman Brothers. Also note that the current drop is greater than analysts' estimates, which had forecast an index standing at -26 points.

The indicator is now suffering the backlash of concerns about German growth, which slowed sharply in the second quarter. Last week, the Federal Statistical Office (Destatis) and has the resolve to announce that German gross domestic product (GDP) was only marginally increased by 0.1% over the first quarter. If investors hold a positive view of course the current economic situation in Germany, but it is much worse than the previous month.

It is true that if Germany is often seen as a champion of exports, foreign trade made a negative contribution to GDP in Germany last spring, as imports exceeded exports. "Private consumption and investment in construction also slowed the German economy in the second quarter," had also then said the Statistical Office. According to a survey released recently, the Germans would doubt increasing the capacity of Chancellor Angela Merkel to solve the financial crisis.

They are in fact 55% have had "little confidence" and 20% "no confidence" in the conservative-liberal coalition government out of the euro-zone turbulence that wave now. Main objections put forward by the survey: "the Germans aspire to clear positions on the part of leaders and now it is not the case," said Richard Hilmer, director of Infratest Dimap. In other words, the German citizens expect a clear plan, and their demands are not met at present.

The question is whether the second quarter sounds sort of the end of the German economic miracle, and if Germany could in turn fall into the throes of recession.

Online Banking Part.II

The only entities that have managed to sustain their existence are those that are backed by a bank, maintaining an independent identity. This allowed them to diversify their services, taking advantage of operational know-how and organization of their parent and thus offer very attractive prices. Boursorama is a convincing example of this model. Since its merger with Society General, Boursorama is no longer confined to the business broker but has become a real bank.

However, if the online bank has no place as an organization independent financial, recent operations have shown that online banking is now essential to any actor with a network. New entrants in the banking landscape have understood. Insurers having embarked on the adventure of assurfinance began with an offer to acquire or develop online banking in addition to the existing branch network.

The acquisition of online banks by banks should not be seen as a way to computerize the customer relationship. Indeed, banks are seeking to boost their network by opening branches. The agency is the best way to attract customers, offering Internet users the ability to simplify the management of operations.

However some players have managed to build a profitable business model around online banking service. This model is based on tactical development articulated in two phases:

(I) a startup focused on specialized and profitable activities. For example, the tactic is to capture customer deposits and generate commissions on high value added activities (securities, life insurance ...) and for which the customer is willing to pay.

(Ii) enlargement to daily banking activities (current accounts, credit card) which are less profitable because of investments in infrastructure require significant yield little and are subject to very strong competition.