Discover and read the best of Twitter Threads about #Esm

Most recents (19)

Senkin uhalla että kuulostan LinkedIniltä ja osittain häpeilemättömältä omakehulta: @simracingfi porukka on oikeasti vienyt hommaa huikeasti eteenpäin viimeisten vuosien aikana. Viimeistään Jyväskylässä sen tajusi, kun MM-rallissa oli halli täynnä simuja. Jumalauta. #esportsfi
@simracingfi Tähän olisi montakin tarinaa jatkoksi siitä, mistä ollaan aikoinaan ampaistu liikkelle lähetys- ja kilpailuhommissa kun @simracingfi perustettiin, monta tarinaa siitä miten #simracing taso on mennyt eteenpäin, jne. Otetaas kuitenkin käytännön esimerkki.
@simracingfi 2015, FiSRA:n perustamisvuonna järjestettiin @LanTrekRy-tapahtumassa iRacing-kilpailu. Osa kilpailijoista ajoi paikan päällä yhdistyksen tuomilla laitteilla - karsintakin siihen järjestettiin. Toiset osallistuivat etänä. Siitä piti tulla iso juttu; live-tapahtuma, yms.
Read 17 tweets
There’s really nothing like a budgetary crisis to budge the Europe forward in the right direction. If HU and PO continue to block, the normal thing to do would be for the EU leaders to cave in – as they did to the British in 2016. #EUCO 1/
The much better thing would be to trigger enhanced cooperation (by QMV) and establish the grant element of the economic recovery programme by and on behalf of only those states which participate. 2/
Once established, the core group can choose to act by QMV even for the decision to raise the own resources ceiling as well as for a new #MFF — all with European Parliament consent. The enhanced group has to pay for itself — which should stimulate the markets. 3/
Read 5 tweets
Die #EZB muss endlich ihren Job machen dürfen. Dazu muss das Mandat der EZB geändert werden. Unabhängigkeit ist jedoch kein Blankoscheck wie in der Euro-Krise. Der Bundestag braucht einen geldpolitischen Dialog mit der Bundesbank nach dem Vorbild des Europäischen Parlaments. (1)
Anleihekäufe gehören zum Instrument der Geldpolitik von Zentralbanken. Auch jede Zinsentscheidung wirkt sich auf die Wirtschaft aus & ihre Effekte müssen Zentralbanken in den Blick nehmen. Die ökonomische Kritik des #Bundesverfassungsgerichts ist daher schwer nachvollziehbar. (2)
Die Staatsfinanzierung ist der EZB nach den #EU-Verträgen verboten. Die EU-Verträge zwingen die #EZB, so zu tun, als ob sie keine monetäre Staatsfinanzierung betreibe. (3)
Read 10 tweets
Oggi LadyLaga...
Il banco chiude...sondaggio e scommesse finite...
VINCE KARLSRHUE SUL TRENINO
che amarezza!!😂😂👽
tra 15 minuti il responso finale! Image
BOOOOM
bucata la sogli di 1.40
boscaioli ne abbiamo?👽😂 Image
Read 746 tweets
We now know the #ESM lending conditions. Look at footnote 2 of the #Eurogroup statement
Lending rate will be at around 0.13% for loans up to 10 years (drawn for up to 2 years)

consilium.europa.eu/it/press/press…
A quick calculation (at today's 10 year market rates) for Italy gives yearly savings in interest payment of about € 600 mln, or 0.033% of GDP Image
This is more or less what we had calculated with my colleagues at @ofceparis. Not a lot, to be honest (with the whole 540bn package Italy would save at best 0.08% of GDP in interest)

ofce.sciences-po.fr/blog/les-milli…
Read 9 tweets
This really is a time for Marshall Plan thinking. Spanish proposal for a €1.5trillion Recovery Fund underpinned by a perpetual bond rather than loans would avoid adding to national debts, avoid austerity, and bring solidarity at #European level. @CathMurphyTD Image
Can't repeat past mistakes of austerity when we needed to invest in housing, health, sustainable forms of transport, retrofitting buildings, in modernising our infrastructure. #Europe wont get a second chance - this is make or break. @CathMurphyTD
Relying on the #ESM as the only possible #European solution in post-#covid19 era is a recipe for further austerity and hardship & is likely to be detrimental, if not fatal, to the European Project.
Read 4 tweets
#Pakistan
#PakistanNavy & #PAF possibly trialing new #ESM/ #ECM pods on #P3C aircraft at #Masroor airbase,#Karachi.
#ATR72-212A with cheek fairing(below fuselage) & side fairings on rear fuselage.
Earlier had noticed possible #barrageballoon #radar trials&expansion at this place.
Read 3 tweets
1/ Quest’ultimo periodo, pieno di incertezze per i business decision-makers come per i consumatori, ha visto un ampio dibattito su @econopoly24
Ecco il mio #ExecutiveSummary
#Covid-19 #Econ24
Long #Thread 👇
@econopoly24 2/ Primo tema, non ancora risolto è il Meccanismo europeo di stabilità (#Mes o #Esm). Il problema nasce dal fatto che il MES è stato istituito non pensando a crisi sistemiche come il #Covid19.
@econopoly24 3/ In termini pratici, bisogna ricordare che l’erogazione agli Stati rimane debito pubblico dei percettori. Così @francelenzi si domanda se l’accettare il MES equivale a dichiarare il possibile default dell’Italia.
Read 29 tweets
THREAD: The Eurogroup and EU's finance ministers agreed to a #COVID19 emergency rescue package that contains four main components. Here's what the package does...
1⃣The European Investment Bank (@EIB) gets an additional €25 billion to establish a pan-European guarantee fund, aimed at using leverage to support €200 billion of financing for EU companies, particularly small and medium enterprises (#SMEs).
2⃣...calls upon the European Stability Mechanism (#ESM) to make up to 2% of a member state's GDP (in total up to roughly €240 billion) available in pandemic crisis support.
Read 6 tweets
Let me explain why I think this headline is much better than if it'd said "Holland loses Eurozone battle"

No, I dont approve of thinking in terms of win-lose outcomes in EU politics. All EU decisions r a compromise, always

But @telegraaf has a large eurosceptic readership.
1/
I worry about the events of past 2 weeks -- #ESM, MinFin Hoekstra's lack of empathy & governments singling out the Dutch for special criticism -- how it might fuel Dutch eurosceptics (general elex in March 2021 and eurosceptic parties are waiting to pounce).

2/
A tabloid is gonna be a tabloid. I dont expect nuance or diplomatic finesse from them

So, even though I deplore the "victory" headline, it is much better than the reverse in terms of how it shapes perceptions amng their (eurosceptic) readers

Whatever yesterday's result

/n
Read 3 tweets
1/6 After long and intense conversations the last couple of days, the #Eurogroup came to a good conclusion today. We made sensible agreements together for Europe and the NL to face the #coronacrisis. Minister Hoekstra tijdens een video-overleg met andere Europese ministerie van Financiën.
2/6 We have put a comprehensive package on the table that will help countries finance the medical costs, that will help companies and our employees. Under the right conditions it will also help to build our national economies on the long-term.
3/6 The #ESM can provide financial help to countries without conditions for medical expenses. It will also available for economic support, but with conditions. That's fair and reasonable.
Read 6 tweets
1/7 De afgelopen dagen waren intensief, maar we hebben een goede uitkomst bereikt in de #Eurogroep vandaag.
We hebben verstandige afspraken gemaakt voor Nederland én Europa om de gevolgen van de #coronacrisis het hoofd te bieden. Minister Hoekstra tijdens een video-overleg met andere Europese ministerie van Financiën.
2/7 We leggen een omvangrijk pakket neer dat landen helpt om medische kosten op te vangen, we helpen bedrijven en werknemers en we bouwen samen onder de juiste voorwaarden aan sterke economieën en gezonde overheidsfinanciën voor alle landen.
3/7 Bij de discussie over het #ESM hebben we kunnen vasthouden aan onze inzet: via het ESM kunnen landen hulp krijgen om hun medische uitgaven op te vangen, zonder voorwaarden.
Read 8 tweets
Ein paar Überlegungen (man könnte Buchbände füllen) zur Finanzierung von Ausgaben, verursacht durch die Coronakrise, in der EU. #eurobonds #coronabonds #omt #ecb 1/11
Wie sich schon in der Staatsschuldenkrise 2012 gezeigt hat, reicht die Geldpolitik nicht aus, um wirtschaftlichen Schocks in einer Währungsunion angemessen zu begegnen. Glücklicherweise haben wir mittlerweile auch den #ESM. Aber werden die vorhandenen Mittel reichen? 2/11
Die Geldpolitik, d.h. die ECB, hat schon Schritte gesetzt: die Ausweitung des Wertpapierankaufprogramms mit dem sperrigen Titel „Pandemic Emergency Purchase Program“ um 750 Mrd. Euro bis Jahresende. Dazu kommen die technisch klingenden Liquiditätsprogramme LTRO u. TLTRO III. 3/11
Read 11 tweets
Oggi è uscita sul Financial Times un'intervista al Direttore del Meccanismo Europeo di Stabilità, Klaus Regling. Regling dice alcune cose che vale la pena di analizzare (qui il link all'originale: esm.europa.eu/interviews/tra…).
#COVID19 #COIVD19Italia #ESM #MES #eurobond
Debito europeo esiste già, gli eurobond non sarebbero qualcosa di "nuovo", ma un ulteriore fattispecie di debito europeo.
Il problema, per Regling, è temporale. Per creare una nuova istituzione e metterla in grado di emettere titoli di debito, ci vuole tempo. Regling ricorda che l'EFSF, nel 2010, ci mise sette mesi, e fu un "record mondiale".
Read 20 tweets
Paese congelato da ieri
delta rispetto al Picco di Congestione del Traffico mattutino superiore al 50% sia a Milano che a Roma
Worst Case ad oggi
-32mld di PIL2020
Deficit/PIL =
-2.82% con +10mld deficit [+7mldUsc vs -3mldEnt]
-3,78% con Entrate ridotte di 12mld vs 2019
AD OGGI ImageImageImageImage
Ad oggi il maggior indebitamento in qualunque ipotesi con una contrazione così importante del PIL, porterebbe il rapporto debito/PIL italiano vicino al 140%...facendo scattare tutti gli alert di ristrutturazione del debito pubblico...sia Ex-Ante [#MES2] che EX-Post [MES attuale] Image
ma 30mld è solo quello che abbiamo perso fino a questo momento, allarghiamo l'orizzonte almeno fino al 03 aprile ipotesi a spanne su tutto il paese...
IPOTIZZIAMO CONTRAZIONE MEDIA NAZIONALE DEL 70% dall'8 marzo al 03 aprile:
👉PESA 86MLD
più tutto il tempo per tornare a regime Image
Read 801 tweets
...@bancaditalia CODADEPAJA
I prestiti TLTRO di #PopBari dal bilancio 2015..."anche a nome delle nuove controllate" chiesti ulteriori 516 milioni in 3 mesi...
Evento in stile
#ECB/@bancaditalia 's Ponzi Scheme... 👏👏
Read 317 tweets
(1/11) Thread su riforma #esm. Partiamo dalle fonti.
- Direttamente sul sito #esm trovate una serie di FAQ: esm.europa.eu/press-releases…
- In alternativa, c’è l’apposito dossier della camera:
documenti.camera.it/leg18/dossier/…
- Molto utile anche il report annuale: esm.europa.eu/publications/e…
(2/11) #ESM nasce nel 2012 come trattato e sostituisce gradualmente EFSF, società privata di diritto lussemburghese. A differenza di quest’ultimo che operava solo con garanzie dei vari stati sui propri bond, all’#ESM gli stati hanno conferito, pro quota, oltre 80 miliardi di euro
(3/11) #ESM si finanzia inoltre sul mercato a tassi molto convenienti e usa la liquidità per prestiti ai paesi in difficoltà (Spagna, Grecia, ecc) per investire in asset con determinati rating ed infine deposita una parte della liquidità presso #BCE, Bundesbank, Banque de France
Read 12 tweets
l'impulso dalla creazione di quasi 3Trilioni di $ di riserve non spinge in maniera coerente e costante l'elargizione di nuovo credito da parte delle banche US👉NON C'E' DOMANDA
la moneta creata non "gira" come potrebbe/dovrebbe e lo vedi su
-Linea Nera:Inflazione attesa 5y FWD
...perché accade tutto questo?
perché da oltre 10 anno l'unico intento delle CBs è quello di salvaguardare il sistema finanziario come l'abbiamo sempre "conosciuto"...ma che è morto esattamente 11 anni fa...NON SIAMO MAI USCITI DALLA GFC 2008/09 e non usciremo mai in questo modo
...ed oggi vedremo quanto @potus è ricattabile...ha in mano il jolly per affondare EZ e lo DEVE giocare adesso...👽
ansa.it/europa/notizie…
Read 210 tweets
Here's my internship paper with Francis Tuerlinckx on #measurement/#psychometrics of affect & #ESM using graded-response #IRT.
The main finding:
The state & trait latent constructs of affect—contrary to the common belief—are essentially different.
Summary in 9 tweets:
#THREAD 1/9
Nonergodicity has been heavily ignored in psychology. In the intro we give an extensive historical overview of how this has troubled our idiographic (person-centered) and nomothetic (~individual differences) understanding in psychology—and the way people have tried to fix it.
2/9
In #ESM, sum-scores of PANAS-like positive & negative items are used as constructs of affect—but is that a valid decission?
To account for non-normality (& to allow nonlinearity & check latent nonmonotonicity), we used graded-response item response theory for factor analysis.
3/9
Read 9 tweets

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