Thread by @DanielaGabor

First trigger in @FT piece on @Lagarde age @ecb 'banks..complaining bitterly about impact of negative interest rates on their business model' - bankers may have short-term horizons, but we have long memories to recall it was their bloody crisis
ft.com/content/1683ea…

second worry - if @fwred is right that Lagarde will shift from plumbing ECB to political ECB we are in trouble. The plumbing (hello fellow repo geeks) cannot be wished away, the chief plumber is going (Coeure) and Lane doesnt have much experience or academic interest in it.

third worry - Lagarde's agenda to green ECB cannot simply be about purchasing green assets, as FT suggests.
If only that, ECB will become a promoter of Wall Street Climate Consensus, a new greenwashing paradigm that is rapidly emerging to oppose serious greening finance agendas