Didnt take Germany long to jump over the fence.
Apr 3, 2014 11:22:35 #
So much for all global t***sactions being made in the petrol dollar.
Bundesbank, PBOC in Pact to Turn Frankfurt Into Renminbi Hub
Germanys Bundesbank and the Peopleâs Bank of China agreed to cooperate in the clearing and settling of payments in renminbi, paving the way for Frankfurt to corner a share of the offshore market.
The central banks signed a memorandum of understanding in Berlin today, when Chinese President Xi Jinping met German Chancellor Angela Merkel, the Frankfurt-based Bundesbank said in an e-mailed statement.
Germanys financial capital prevailed over Paris and Luxembourg in a euro-area race to win trade in renminbi, which overtook the euro to become the second-most used currency in global trade finance in October, according to the Society for Worldwide Interbank Financial Telecommunication. The U.K. Treasury said on March 26 that the Bank of England would sign an initial agreement with the PBOC on March 31 to clear and settle yuan t***sactions in London.
Frankfurt is one of Europes foremost financial centers and home to two central banks, making it a particularly suitable location, said Joachim Nagel, a member of the Bundesbanks executive board. Renminbi clearing will strengthen the close economic and financial ties between Germany and the Peoples Republic of China.
China is loosening exchange-rate controls in an overhaul of its $9 trillion economy. The accord follows the establishment of a 350 billion-yuan ($56 billion) and 45 billion-euro ($62 billion) bilateral swap line between the PBOC and the ECB in October, bolstering access to trade finance in the euro area.
Bundesbank, PBOC in Pact to Turn Frankfurt Into Renminbi Hub
Germanys Bundesbank and the Peopleâs Bank of China agreed to cooperate in the clearing and settling of payments in renminbi, paving the way for Frankfurt to corner a share of the offshore market.
The central banks signed a memorandum of understanding in Berlin today, when Chinese President Xi Jinping met German Chancellor Angela Merkel, the Frankfurt-based Bundesbank said in an e-mailed statement.
Germanys financial capital prevailed over Paris and Luxembourg in a euro-area race to win trade in renminbi, which overtook the euro to become the second-most used currency in global trade finance in October, according to the Society for Worldwide Interbank Financial Telecommunication. The U.K. Treasury said on March 26 that the Bank of England would sign an initial agreement with the PBOC on March 31 to clear and settle yuan t***sactions in London.
Frankfurt is one of Europes foremost financial centers and home to two central banks, making it a particularly suitable location, said Joachim Nagel, a member of the Bundesbanks executive board. Renminbi clearing will strengthen the close economic and financial ties between Germany and the Peoples Republic of China.
China is loosening exchange-rate controls in an overhaul of its $9 trillion economy. The accord follows the establishment of a 350 billion-yuan ($56 billion) and 45 billion-euro ($62 billion) bilateral swap line between the PBOC and the ECB in October, bolstering access to trade finance in the euro area.
Apr 3, 2014 11:42:20 #
jonhatfield
Loc: Green Bay, WI
My goodness, Patty, China's 9T economy makes your Putin's 2T Russian economy look puny. Oops, apologies for the fact that puny Putin is a contradiction of your picture of heroic strongman Putin as defender of the world against American imperialism.
By the way, you as promoter of Putin and all things reflecting badly on America, might do well to shift your loyalty to China as the upcoming power...except, of course, China isn't exactly the same strongman neo-f*****t type power you seem to go for.....hmmmm
By the way, you as promoter of Putin and all things reflecting badly on America, might do well to shift your loyalty to China as the upcoming power...except, of course, China isn't exactly the same strongman neo-f*****t type power you seem to go for.....hmmmm
Apr 3, 2014 11:44:14 #
Ok I will let you follow me around again today but try to behave yourself so you don't get another 2 week time out. Ok jonnie/jack? : )
Apr 3, 2014 11:47:59 #
Patty wrote:
Ok I will let you follow me around again today but try to behave yourself so you don't get another 2 week time out. Ok jonnie/jack? : )
Has Jon, the cold war cyber-stalker, returned???
Apr 3, 2014 12:19:46 #
Yes I have been toying with him posting links to not just RT articles, and not just PCR articles but links to PCR being interviewed on RT (BoomBust) He is freaking out.
:lol: :lol: :lol:
Brian Devon wrote:
Has Jon, the cold war cyber-stalker, returned???
:lol: :lol: :lol:
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