In today’s briefing:
- Outside the Box #10 What if China Favors Bridges over Credit Cards once More?
- EUR Liquidity Watch – How Well Are Depositors Protected? Italy with the Largest Bill to Pay (Again)
Outside the Box #10 What if China Favors Bridges over Credit Cards once More?
- CCP is in a tough place and is forced to balance between long-term policy goals and short-term costs
- The CCP could be incentivized to back investment (as per usual) despite rhetoric suggesting a policy pivot. This could lead to further tensions with Washington
- There is not much pointing to a comeback for the Yuan no matter what policy path Beijing chooses
EUR Liquidity Watch – How Well Are Depositors Protected? Italy with the Largest Bill to Pay (Again)
- The Deposit Guarantee Scheme requires multiple countries to pay a large bill by year-end
- Italy will likely be the biggest loser of all of this as Italian banks don’t look robust enough
- Tighter regulation is necessary in order for the ECB to maintain a functioning safety net
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