Tweet

More from @PeterFr89977258

Peter Frank

@PeterFr89977258

14 Dec

Please tell me if I get the big picture on #Eurozone #QuantitativeEasing right.

1. The EU is a historical political project
2. The #ECB is a child of that project and understandably protects it until its last breath
3. Protecting it means
a) ensuring no member to go bust

b) sovereign spreads to remain at a managable levels

4. These in turn requires heavy purchases of sovereign bonds, on a scale that can only be done with newly created money #M0 i.e. #QE.
5. That money inevitably blows a bubble on nearly all markets of investable assets

6. ...which side effect the ECB does not like but sees no alternative to keep the Eurozone together
7. ECB also needs to keep printing money as #FED is printing money too, and the #EUR would otherwise appreciate, creating huge competitiveness problems for the entire Eurozone.

Read 4 tweets

Peter Frank

@PeterFr89977258

13 Dec

@Michael_Kunz

1/
So, Kinder. Wir wiederholen nun das Gelernte – bitte gut aufpassen, denn ihr und eure Eltern müssen den Stoff bei den nächsten Landtagswahlen gut beherrschen.

@Michael_Kunz @Echt_jetzt_ @annette_bulut @die_vom @Hutmarie2 @Klickmichi #COVID19 #Bildung @heuteshow

2/
Also: wie ihr wisst, wütete in unserer Heimat im Frühling eine gefährliche Krankheit. Das war die Zeit, wo die Schule 6-8 Wochen zu war, und ihr zu Hause saßt und Däumchen drehtet, weil es in Deutschland, anders in den meisten anderen Ländern, keinen Online-Unterricht gab.

3/
Dank den Einschränkungen hat man das Virus eindämmen können, und ab ging es in den Urlaub. Leider war es klar, dass es im Herbst wieder losgeht. Das haben die sog. WissenschaftlerInnen, deren Job es ist, solche Schwierigen Sachen zu verstehen, in aller Deutlichkeit gesagt.

Read 29 tweets

Peter Frank

@PeterFr89977258

12 Dec

@rdanielkelemen

1/
I think when we’ll look back on the recent #RuleOfLaw ‚compromise‘ with #Hungary and #Poland, it'll be seen as missed opportunity.

Thread.

@rdanielkelemen @daniel_freund @DanielHegedus82 @alemannoEU @luca_badini @chriswratil @lucasguttenberg @MwiWind @ruitavares

2/
Proponents of the deal in the West argue that the law will eventually come as agreed, and it’s ‚only‘ a non-binding introductory text and the delay that was given to Hungary and Poland, so it's an EU-win – I think they are wrong.

3/
For one, these were fully unnecessary give-aways; fidesz didn’t actually have a negotiating position, all they had was bluffs and aggression.

The RoL law could have been decided by qualified majority voting, if need be against the resistance of PL & HU;

Read 19 tweets

Peter Frank

@PeterFr89977258

11 Dec

1/
One more 'oldie but goodie' from Orban-land, this time less of a rule-of-law gem but more a tale of fidesz' pathological urge to lie, and you may take note of the sheer fear palpable in the players' actions all along the chain of events.

Here comes: 'The President's PhD'

2/
A foreword: Hungary's president Pal Schmitt had been an olympic gold medalist in fencing; a true nihilist in politics with no views whatsoever and the mere desire to get some important role. Orban personally chose him as president for his relative popularity as a sportsman

3/
and his ignorance, leading to Schmitt indeed singning into law every single Orban-notion which carpet bombed Hungary's democratic institutions and carved state capture into stone. As president, he did not even attempt to show any trace of own will.

Read 35 tweets

Peter Frank

@PeterFr89977258

11 Dec

1/ politico.eu/article/europe…

This article contains a lot of true statements - and still is fundamentally mistaken and wrong.

Thread.

2/
The article takes autocracy in the East as a given, like an irresistable natural force, and thus establishes the false choice of accepting an autocratic East or giving up the EU as a project unifying the European Continent.

Nothing could be farther from the truth.

3/
For one: we can see with our bare eyes that it is precisely the EU's inaction, the constant vacillation that is tearing it apart, by ever appeasing an actor whose hunger can never be satisfied.

Read 18 tweets

Peter Frank

@PeterFr89977258

7 Dec

https://twitter.com/PeterFr89977258/status/1335320590949953537

1/
#Hungary #RuleOfLaw #orban

Since my account of the “cigarettes business” (

https://twitter.com/PeterFr89977258/status/1335320590949953537

) attracted quite unforeseen level of interest, I thought maybe the other huge fidesz-“business” of the time in Orban-land might be interesting as well, especially since

2/
that had indeed ramifications for the entire Schengen-zone, insofar as reportedly providing Schengen-access to numerous people with affiliations to dictators, organised crime and secret services - basically as a mere side effect of stuffing some pockets.

3/
Ladies and G'men, here comes the infamous „residency bonds“ scheme.

So, this scheme provided Hungarian residency (=full Schengen access) to basically anyone willing to pay, while collecting high fees from the applicants and looting the state budget in the process.

Read 33 tweets

Share this page!

Peter Frank

Try unrolling a thread yourself!

More from @PeterFr89977258

Peter Frank

Peter Frank

Peter Frank

Peter Frank

Peter Frank

Peter Frank

Did Thread Reader help you today?

Like this author's thread?