Brilliant idea, negative rates. So you will pay the bank to hold your cash. Not necessary to be like Einstein in this situation, I will charge you nothing to hold your cash! Please pay your USD, yen, euros and GBP into my bank account no. 1235813, Bank of Atlantis. No tax payable on no interest, ask an tax adviser anywhere worldwide. Trust me.
ECB poised for negative rates, will offer unlimited LTROs – FT
The FT is out with an article citing senior ECB officials on what the central bank will do at Thursday’s meeting. Senior ECB officials have hinted that they will also present measures to tackle the plight of the eurozone’s struggling SMEs to counter what ECB president Mario Draghi this week dubbed a “pernicious negative spiral” of low inflation and tight borrowing constraints.Jens Weidmann, Bundesbank president, is planning to support the ECB’s proposal to ease constraints on smaller businesses in more troubled parts of the currency bloc, according to a senior European central banker, but his vote for rate ... (full story)