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Two analyst notes, one worrisome story

According to ACF, the total amount of debt purchased by the ECB has doubled since the beginning of August. “The ECB increased purchases of sovereign debt during the last week up to €13.960bn. This is comparing to the previous week’s €13.300bn. The total amount of debt purchased by the ECB has almost doubled in the last five weeks. Since the purchasing program began in May 2010 up until last August…

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World left tweeting after a stark resignation

LONDON | For the European Central Bank (ECB), Mr Juergen Stark’s resignation from its executive board on Friday was a “personal” matter, and judging by the reaction on the markets that description turned out to be fitting: at 4:00 pm, the euro was trading against $1.37, down 1.6% and at its lowest level since the end of February. “No wonder,” as international financial markets, HF expert and Webster Finance Professor Jacob…

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Ms Lagarde is right (even though the ECB would rather turn a blind eye)

By Miguel Navascués, in Madrid | There has always been tension between the IMF and those countries under its analysis over the numbers in the fund’s economic forecasts. But this time the battle between the IMF’s Ms Lagarde and the European authorities has been set over valuations of sovereign bonds held by the banks. According to Lagarde, were the bonds in the European banks’ portfolios to be valued at their current market price……