tag:blogger.com,1999:blog-2761684730989137546.post57247392116521834..comments2024-03-18T19:09:18.510-04:00Comments on Mike Norman Economics: Michael Roberts — Beware the ECB bearing gifts for Greeksmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-67473101819314608062017-10-11T21:15:55.088-04:002017-10-11T21:15:55.088-04:00On the ECB’s website one can read this:
The NCBs’...On the ECB’s website one can read this:<br /><br />The NCBs’ shares in this (ECB) capital are calculated using a key which reflects the respective country’s share in the total population and gross domestic product of the EU. These two determinants have equal weighting.<br /><br />The net profit of the ECB shall be transferred in the following order:<br /><br />an amount to be determined by the Governing Council, which may not exceed 20% of the net profit, shall be transferred to the general reserve fund subject to a limit equal to 100% of the capital;<br /><br />the remaining net profit shall be distributed to the shareholders of the ECB in proportion to their paid-up shares.<br /><br />Bank of Greece (Greece) 2.0332 %<br /><br />Source: https://www.ecb.europa.eu/ecb/orga/capital/html/index.en.htmlJose Guilhermehttps://www.blogger.com/profile/00313496015841693181noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-1302973518680078962017-10-11T19:57:27.911-04:002017-10-11T19:57:27.911-04:00Probably population weighted i.e. In Germany's...Probably population weighted i.e. In Germany's favor again...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-62777026749172417382017-10-11T17:43:13.546-04:002017-10-11T17:43:13.546-04:00Isn't that just deposited into the Greece Trea...<i>Isn't that just deposited into the Greece Treasury account like the US does?</i><br /><br />The article says its divided among the EU member states.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-85271864443585620902017-10-11T17:40:33.017-04:002017-10-11T17:40:33.017-04:00Would lower the Greece "deficit!" and al...Would lower the Greece "deficit!" and allow (to them) more spending by the govt of Greece cet par...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-54878259055411913202017-10-11T17:38:32.682-04:002017-10-11T17:38:32.682-04:00Isn't that just deposited into the Greece Trea...Isn't that just deposited into the Greece Treasury account like the US does?Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com