In a press release dated February the 19th addressing the so-called "single resolution mechanism" to be decided by the European institutions, the Council of the European Union stated, in what is perceived as a negotiation declaration towards the European Parliament, there was agreement between the partners that: "bail-in and not bail-out is the main guiding principle for bank resolution."
Pietersen is arguably the most talented English player of the modern era. Simply by looking at his statistics it's clear to see that he was on the way to smashing the record book and becoming an England legend. However, look past the statistics and some would say you'd find an enigmatic talent, unwilling to adapt his game or listen to authority.
Average euro zone inflation was a provisional 0.7% in October, much weaker than the ECB's official target of "close to but below 2%". It is not just the low level of inflation that has been a concern for the Bank, but the rapid decline in recent months: between July and October the rate fell by 0.9 percentage points, from 1.6% to 0.7%.
No fewer than four Regional Fed Presidents are due to speak this week, plus Bernanke, and they represent a pretty wide spread of hawks, doves and centrists, so we should be able to watch their lips to get a better sense of whether the bond market was correct in its surprisingly large response to Friday's suspect US unemployment report.
Just another brick in the wall. In what is a potentially vital piece of the jigsaw in the project to keep the Euro afloat, the ECB had a mission: design a bank asset quality review that was just tough enough to gain credibility, but not too tough, for fear of scaring the horses and inducing queues of depositors to form outside banks when the results come out.
In dramatic breaks with history, Mark Carney and Mario Draghi persuaded the Bank of England Monetary Policy Committee (BOE) and the European Central Bank Governing Council (ECB), respectively, to issue what amounted to forward guidance on the path of future monetary policy, without having to actually formally announce they had done so.
Why is it that I always seem to have to write these pieces just before some binary event or other, usually of Eurozone origin, meaning that by Tuesday (in this case), I could look extremely foolish?! Oh well here goes: my feeling is that the Cypriot crisis will fade from memory over the next few weeks and won't lead to wider Eurozone contagion. There - I've said it.
Brussels have decided the unravelling of the Euro and the wider European Project is unthinkable; in order to save the post-World War II consensus, principles and agreements are now void. The euro must be saved at all costs. Merkel has resigned to accepting the end will justify the means; a banking and political union must occur, regardless of the path of misery that awaits the periphery.
Pietersen is England's best batsman, in all forms of the game. In fact, he's one of the most talented batsman England have ever had, certainly in recent years at least. An England side without him is an England side weakened, as evidenced in the performances against South Africa in the third Test, and more noticeably in the World T20.