betekenis van het woord SUFFICIENT

VS: Minimumloon (gecorrigeerd voor inflatie) is lager dan in 1956

Washington has increased the federal minimum wage more than 20 times since it was created during the Great Depression. But those bumps have not been SUFFICIENT to keep the wage law current with inflation.

As a result, today’s minimum wage of $7.25 (set in 2009) is actually lower than it was in 1956, after factoring in rising prices over the decades, according to a recent report from the Congressional Research Service (CRS).

PaybackTime: LTRO-2 afbetalingen haperen

A month ago, on January 25 when the window to commence LTRO repayments was opened, European banks, with much pomp and circumstance, announced that 278 banks repaid a greater than expected €137.16 billion of the €1+ trillion in LTRO funding disbursed in early 2012. This was taken as a sign of European bank stress dissipation and financial stability, and furthermore served to push the EUR much higher on expectations that the ECB balance sheet would rapidly contract even as every other central bank balance sheet was expanding. It also ignored the fact that ongoing broad economic weakness in Europe required and still requires a weaker currency, not a stronger one (however too weak, and you get "redenomination risk", etc, etc). As it turns out, like everything out of Europe, the "strength" indicated by the first LTRO2 repayment was merely a sham, and moments ago when the ECB announced the results of the second 3 year LTRO repayment option, the news was a big dud: instead of the €122.5 billion expected to be paid back, European banks repaid just under half of this amount or €61.1 billion, spread among 356 banks - an average of just €0.17 billion per bank.

The result was an immediate slide in the EUR currency as questions once again arise: were European banks just faking it; is European liquidity suddenly (and still) inSUFFICIENT and do banks still need much more ECB support than expected; is the ECB balance sheet contraction now officially over especially with rumblings yesterday by assorted ECB officials that a negative interest rate is conceivable, and with JPM now expecting another rate cut imminently by Draghi? Most importantly: is this time not different after all?

Record: Argentinië krijgt als eerste land ooit censuur status van IMF vanwege CPI gegevens

The IMF Executive Board found that Argentina's efforts to meet its demands for better GDP and inflation data have "not been SUFFICIENT. As a result, the Fund has issued a declaration of censure against Argentina."

The censure decision opened the way to Argentina possibly losing its voting rights at the IMF, or even losing it membership, AFP reported.

Italie betaalt meer voor 6 maanden lenen dan de VS in 30 jaar

Today Italy had a rather critical Bill auction in which it sold €9 billion in debt due six months from today. Obviously, since the maturity is well inside of the LTRO, the auction itself was rather meaningless from a risk standpoint. Still, the good news is that Italy managed to place the entire maximum amount targeted. The bad news: it cost Italy more to raise 6 months of debt, or 2.957%, than it costs the US to borrow for 30 years (2.70%). Not only that but the average yield 2.957% was the highest since December when the Italian 10 Year was north of 7%, and nearly 50% higher compared to the 2.104% at auction on May 29, or less than a month ago. The Bid/Cover of 1.62 was unchanged compared to the 1.61 at the May 29 auction. From Reuters: "Today's bill sale points to the sovereign getting this supply away but at yield levels SUFFICIENTly elevated to leave a niggling doubt at least as to the medium-term sustainability of the country's public finances," said Richard McGuire, a rate strategist at Rabobank. On Tuesday, Spain paid 3.24 percent to sell six-month bills. Madrid is seen at risk of having to ask for more aid after formally requesting a European rescue for its banks this week. But doubts are also growing on Italy's ability to keep funding its 1.95 trillion euro debt, which makes it the world's fourth-largest sovereign debtor. Domestic appetite has so far allowed the Treasury to complete 56 percent of its 445-billion-euro annual funding plan."

Greece's Departure From the Euro Seems Inevitable

Removing Greece from the eurozone might be the best solution to ending the uncertainty and volatility in the European markets and would remove one of the biggest hurdles impeding an economic recovery in Europe, according to a white paper from Newton, the London-based global asset manager that is part of BNY Mellon Asset Management.

Removing Greece from the eurozone might be the best solution to ending the uncertainty and volatility in the European markets and would remove one of the biggest hurdles impeding an economic recovery in Europe, according to a white paper from Newton, the London-based global asset manager that is part of BNY Mellon Asset Management.

It's Now Just a Question of Timing. Current Idea of a Modest 'Bond Haircut' InSUFFICIENT According to BNY Mellon's Newto