4 Jan 2012

10 questions for Mario Draghi and the ECB

I've just sent the following list of 10 questions to Mario Draghi and the ECB. I'll let you know if I get a reply.
---------------------------- Original Message ----------------------------
Subject: 10 questions for the Mario Draghi and the ECB
From:    "Simon Thorpe"
Date:    Wed, January 4, 2012 08:33
To:      info@ecb.int

Dear ECB,

I would be very grateful if you could answer a few specific questions
about the ECB's policy of making money available to banks.

According to the press, 523 different banks applied for ECB funds on the
21st of December.

1) Where can I find a list of the banks to which the ECB provided money?
2) Where can I find a list of the amounts of money provided for each bank?
3) What percentage of the applications were funded in full?
4) How long did it take the ECB to decide whether to provide funds to a given bank?
5) What checks are made on the suitability of a bank before consenting to make such a loan?
6) Was there any limit on the total amount of money that could be provided via this mechanism?
7) If not, does this mean that the ECB could print an arbitrarilly large amount of money?
8) Was any money provided to "publicly owned credit institutions" as permitted by paragraph 2 of Article 123 of the Lisbon treaty?
9) If such a publicly owned credit institution was to supply the money to a government such as the Greek government in order for that government to pay off its debts to the financial markets, would the ECB object?

10) Has Mario Draghi read Michel Rocard and Pierre Larrouturous tribune in Le Monde on the 2nd of January entitled "Pourquoi faut-il que les Etats payent 600 fois plus que les banques"? Alternatively, if he cannot understand French, he could read my translation which is here.

Yours sincerely

Simon Thorpe

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