Sunday, November 9, 2014

The European Central Bank – ECB – invented yet another tool to hold Europe hostage vis-à-vis Russia

by Peter Koenig

The ECB has just launched – effective 4 November 2014 – a new watchdog to control and regulate the European banking system. It is called the Single Supervisory Mechanism – SSM. It is supposed to monitor and reign in European banks that do not ‘behave’ in terms of overstretching their investment and risk lending as compared to their capital base.

In fact, the SSM is one pillar of the three pillar ‘security’ system put in place by the ECB and the European Commission – EC.


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