Bini-Smaghi: ECB mandate needs an update

Former ECB Governing Council member Lorenzo Bini-Smaghi touches on the debate but sovereign QE in a column in today’s FT and favors action but he focuses on how the ECB could limit the number of government bonds it will ultimately be forced to purchase. Bini-Smaghi looks at how the ECB can tweak its mandate to send a signal to markets about its willingness to counter deflation.

Citi pay the price (again) for fiddling FX market

Not only have they been hit with over $1bn in fines by US and UK regulators over currency manipulation, they’ve also been dropped by the ECB ‘s “expert” forex  working group, reports Reuters The ECB have brushed it over saying that the move was part of of an ongoing annual review (cough…bullsh*t…cough) but an ECB insider says it is related. Out of all the banks fined Citi were hit the most