plan being drawn up to launch the new financial instrument by an independent task force under irish central bank governor phillip lane i'll go into the details in a moment but here it reminds me of the last episode where we were that young millennial kid from new york was talking about the markets are insulated he feels like the markets are somehow insulated probably because he listens to such things as a safe bomb and any time you see the word synthetic being thrown around by a new structured financial project is shortly before that structure of financial project product collapses all synthetic. financial products collapse that's true throughout history. but there's no law against it and the central banks keep issuing these synthetic products now why are they doing this because central banks like to think that they have a certain amount of reserves on their balance sheet in relation to the debt that they are issuing like the central bank of america for example is levered i think sixty to one the central bank and ireland's probably leverage fifty or sixty to one so the way to get around that to

plan being drawn up to launch the new financial instrument by an independent task force under irish central bank governor phillip lane i'll go into the details in a moment but here it reminds me of the last episode where we were that young millennial kid from new york was talking about the markets are insulated he feels like the markets are somehow insulated probably because he listens to such things as a safe bond any time you see the word synthetic being thrown around by a new structure and financial project is shortly before that structure financial project product collapses all synthetic. financial products collapse that's true throughout history. but there's no law against it and the central banks keep issuing these synthetic products now why are they doing this because central banks like to think that they have a certain amount of reserves on their balance sheet in relation to the debt that they are issuing like the central bank of america for example is leverage i think sixty to one the central bank and wireless probably leverage fifty or sixty to one so the way to get around that to leve

plan being drawn up to launch the new financial instrument by an independent task force under irish central bank governor phillip lane i'll go into the details in a moment but here it reminds me of the last about a young millennial kid from new york was talking about a young millennial kid from new york was talking about the markets are insulated he feels like the markets are somehow insulated probably because he listens to such things as a safe bomb and any time you see the word synthetic being thrown around by a new structured financial project. is shortly before that structure of financial product collapses all synthetic financial product collapses all synthetic financial products collapse that's true throughout history. but there's no law against it and the central banks keep issuing these synthetic products now why are they doing this because central banks like to think that they have a certain amount of reserves on their balance sheet in relation to the debt that they are issuing like the central bank of america for example is levered i think sixty to one the central bank and ireland is pr

plan being drawn up to launch the new financial instrument by an independent task force under irish central bank governor phillip lane i'll go into the details in a moment but here it reminds me of the last episode where we were that young millennial kid from new york was talking about the markets are insulated he feels like the markets are somehow insulated probably because he listens to such things as a safe bomb and any time you see the word synthetic being thrown around by a new structured financial project is shortly before that structure financial project product collapses all synthetic. financial products collapse that's true throughout history. but there's no law against it and the central banks keep issuing these synthetic products now why are they doing this because central banks like to think that they have a certain amount of reserves on their balance sheet in relation to the debt that they are issuing like the central bank of america for example is leverage i think sixty to one the central bank and ireland is probably leveraged fifty or sixty to one so the way to get around that to

the spanish economy minister who is the green dos and the other candidate is the chief of the irish central bank philip lane the european parliament seems to have a bit of a preference for the man from ireland but having that as you know the ministers of the eurozone have their own arithmetics when it comes to decision making who said in which post. kind of that it was enough for us in france thank you. as frank to fill now in the trolls behind the fake news headlines. there have been a u.s. special council's decision on friday to indict thirteen russian suspected of meddling in america's presidential election was thrown international attention back on so kremlin backed propaganda w. has been speaking with a former internet troll who worked at the internet research agency in st petersburg which u.s. investigators say is a fake news factory she told the w.c. correspondent you're in russia that those thirteen arrests barely scratched the surface of what she describes as a mass operation. russia's second city st petersburg apparently the center of the fake news operation aimed at disrupting the twe

the idea where getting as he is going to win his, even of the irish central bank governor probably lookse question for the market, what does he think, is he hawk or dove? we need to see this in the broader context. the bank will change a lot. the market wants to know, how dovish are they going to be? are we going to get a new hawkish point? francine: thank you, maria, there are brussels with us throughout the day. that you back to davide serra. -- care who becomes vice president? does it actually materially change the way you look at ecb policy? toi do care a lot because me, there is a redline. you cannot be from being elected in office, saving finance minister come and join the ecb. if you were to do this, it would be a big mistake because their crossing of redline. if you want to join the board first, becomes the governor of the bank of spain, he proves himself there from the bank of spain coming can join the ecb board. this idea go from politician to the ecb board is very dangerous. it has nothing to do with guindos or personality, but a professional role. the fact that spain is pushi

this is the irish finance minister saying that the irish central bank governor, phillip lane, his namehraffer move to support the spanish economy minister. we'll get further analysis of this, that has been expected in some quarters, because this is the faith, there had been an expectation that perhaps they would step away from the battle to enable a unanimous decision to be made by the finance ministers later on today. still with us, manish, we see this battle for who's going to have the vice-presidency of the e.c.b. what's your big source in 2018 around the e.c.b.? are they doing their exit from q.e. quickly enough for you? >> well, i would say that you have to get this easy money policy. i mean, to prove that the economy is robust enough and can get on its own two feet and work. now, it seems like the e.c.b. is going to take the foot off the pedal come september, and then see what happens. i mean, how the economy reacts, able to take the pressure well enough. i mean, at the initial phase, i think the banks will do well when this happens, because as the rates go up, the banks will do