By Paul GOLDSCHMIDT, former Director at Goldman Sachs International, former Director at the European Commission (1993-2002), member of the Advisory Board of the Thomas More Institute
Numerous voices are clamouring in order to allow the ECB to lend directly to EMU Member States. Their requests are based on two main arguments. The implementation, specifically in the US and the UK, of official programs of “non standard measures” (quantative easing) by Central Banks which result in market purchases of their domestic sovereign debt. And the fact that the ECB is providing liquidity to the banking sector on terms that allow the latter to arbitrage profitably EMU sovereign debt; this situation seems crazy to the extent that the (...)
Article by Paul GOLDSCHMIDT, former Director at Goldman Sachs International, former Director at the European Commission (1993-2002), member of the Advisory Board of the Thomas More Institute | Published in French on Atlantico.fr, on 21th February, 2012
France should be the first country to adopt legislation covering the creation of the ESM. It will, however, only become operational after ratification of the Intergovernmental Treaty (EU 25) on budget discipline which should be signed early next March. Indeed, access to the ESM is subject to the ratification by the applicant of the Treaty which will only enter into force after its adoption by at least 12 of the 17 EMU Member States. This can only be envisaged for the end of the (...)
By Paul GOLDSCHMIDT, former Director at Goldman Sachs International, former Director at the European Commission (1993-2002), member of the Advisory Board of the Thomas More Institute.
When Philippe Maystadt or Michel Rocard recommend that the ECB consider loans to Eurozone Governments, it is necessary to examine carefully such proposals. Indeed, the increasing role of the ECB in the management of the financial crisis raises questions concerning the appropriateness of its mandate and the limits imposed on its interventions.
Initiated already under the presidency of Jean-Claude Trichet, through both standard and non-standard measures of implementing monetary policy, the interventions of the ECB have gathered momentum (...)
New meeting of the Thomas More Institute on Tuesday, December 13rd, 2011, 8:30-10 am, Paris. Speakers: Christian SAINT-ETIENNE and Paul GOLDSCHMIDT.
Just as the Euro crisis becomes everyday business and the market keep pressuring governments, the European Union remains speechless... The trust in the Euro goes slimmer everyday: the credibility of Europe is questioned. The chronic incapacity of its members to agree on crucial matters and put up a unified front now threatens the whole House.
Because behind the wall of the debt, which triggered the whole crisis, the very conception of the European Union as we know it today is questioned, together with the trust that binds all its members. Germany won't be the "payer of last (...)
The agreement obtained during the European summit of Brussels of December 8th and 9th seems insufficient to calm the mistrust of financial markets and have difficulty in hiding the bigger and bigger difficulties of the various member countries to agree on a common vision of Europe and to pursue together the adventure. Between a fuzzy decision-making, stemming from a chronic incapacity of the Europeans to say what is the political shape that has to take the European Union, and efforts important to lead by France to reduce its public spending, the challenges to be surmounted still seem in front of us. Interview of Jean-Thomas LESUEUR, CEO of the Thomas More Institute, on the website Atlantico.fr, on December 10th, 2011. Available in (...)
Interview with Michel FOURMY, Expert in Human Resources Management and author of the (...)
Article about new Note of the Thomas More Institute, Municipales 2014 : 10 propositions (...)
Article about proposals made by the Thomas More Institute made in its new (...)
Interview with Jean-Thomas LESUEUR, CEO of the Thomas More Institute to the show "Good (...)
By Jean-Pierre SCHAEKEN WILLEMAERS, Chairman of the Energy, Climate & Environment (...)