The Russian state’s ideological madness and reversion to warlordism have been abetted by a religious fundamentalism that openly celebrates death in the name of achieving a god-like status. As Vladimir Putin’s propagandists are telling Russians, “Life is overrated.”
traces the religious and intellectual roots of the Kremlin’s increasingly morbid war propaganda.
It is hard to reconcile the jubilant mood of many business leaders with the uncertainty caused by the war in Ukraine. While there are some positive signs of economic recovery, a sudden escalation could severely destabilize the global economy, cause a stock market crash, and accelerate deglobalization.
warns that the Ukraine war and economic fragmentation are still jeopardizing world growth prospects.
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法兰克福——6月中旬,由于意大利10年期债券的收益率攀升到比德国债券高约250个基点,欧洲央行认为,有必要召开一次宣布加速制定全新“反碎片化举措”的特别管理委员会会议。现在,它已经公布了相关努力的成果。
官方公告称,欧洲央行的传导保护工具(TPI)旨在“确保货币政策立场在所有欧元区国家顺利传递”。“传导保护工具将成为[我们]工具包的补充,可以启动应对对欧元区货币政策传导构成严重威胁的毫无依据的无序市场动态。”
考虑到确定利差(即不同国家债券收益率差异)在多大程度上反应潜在基本面差异、而非不合理且又破坏稳定的市场动态有多么困难,传导保护工具对欧央行而言是一项雄心勃勃而又冒险的事业。此外,这样的主观判断总会涉及重要的政治因素,这确保了它们将会接受市场的考验。结果导致欧央行不可避免会感受到比相关国家经济和金融基本面所需要的更大的干预压力。
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