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Daniela Gabor Profile picture
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Jan 17,, 4 tweets, 2 min read
wow I had missed the German Green's centre-right manifesto

ft.com/content/fa7403…
a democratic framework for derisking!
the humble small derisking state - changing price signals at the margin instead of massive public investment
hmm, If I had a Euro for every time I heard German politicians/MEPs waxing lyrical about promoting bank global champions, but sure, why do for climate what you tried so hard (and failed) for Deutsche Bank?

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More from @DanielaGabor

Daniela Gabor Profile picture
Jan 19,
oh look @nssylla Macron Doctrine en marche!!!
the #GlobalGateway strategy seeks to 'unleash' EUR300 bn for infrastructure investments around the world based on 'values, transparency and sustainability'
values first infrastructure is a new one:

wonder what values embodied by (German) Compact with Africa push for PPPs in health or education that force user-fees and de-facto privatisation of social infrastructure
Read 6 tweets
Daniela Gabor Profile picture
Jan 18,
wherever I turn, all I see is derisking Image
and a bit of carbon shock therapy @IsabellaMWeber Image
new IMF in old privatization bottles Image
Read 5 tweets
Daniela Gabor Profile picture
Jan 17,
Improving macroeconomic literacy in Germany must be a priority for Europe.
Qed
Could do this all day long
Read 6 tweets
Daniela Gabor Profile picture
Dec 19, 2021
what does balance sheet of central bank w deeply unconventional approach to financial globalisation look like?

@CentralBank_TR Turkey: no capital controls/interest rates to contain non/resident outflows, instead burn fx reserves and failing to contain TRY depreciation 1/n ImageImage
asset side looks familiar to students of EM:

the action in foreign assets, while traditional business of central banks - issuing reserves to banking system - around 15% of assets, and outright ownership of TRY sovvies negligible Image
the 'Foreign Assets' rubric is a big black box:

other EM cbs typically report Net Foreign Assets so things like cb fx swaps are accounted but clearly not here

Read 10 tweets
Daniela Gabor Profile picture
Dec 17, 2021
lowering interest rates and then burning through your hard cash is an interesting way of managing your exchange rate. #whateverittakesbutnocapitalcontrols
historians of the global financial cycle will have a great time explaining Erdogan as inexplicably contrarian till the bitter end (30?50?)
guys, the analogy with China in the 80s is wrong not because of industrial policy, but because China was basically closed to capital flows, whereas Turkey stubbornly refuse to follow that path and impose capital controls. Image
Read 12 tweets
Daniela Gabor Profile picture
Nov 30, 2021
what we naively believe early in pandemic: massive public investments in public health to fight super-clever virus.

what we're getting 18 months later: let pension funds invest in private equity funds targeting private healthcare.

ft.com/content/ac1d5a…
why Health as an Asset Class?

because under financial capitalism institutional supercycle, the macrofinancial imperative is new asset classes for the portfolio glut

thought Climate/Nature as an Asset Class will test limits of financial capitalism, move us in new supercycle

but w Omicron it starts to sound like stupid Hollywood sci-fi where mutant virus destroys humanity because we trusted Blackstone/Blackrock to run hospitals.
Read 5 tweets

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