This Is How The Russian Invasion Could Crash The Euro.

The EU must choose. Expel Russia from the banking system or put the Euro ‘in play’

For most readers banking is not interesting, but you need to read this as it explains a lot of

Will Germany ever agree? Is refusal possibly a worse outcome?

Why SWIFT is key to the Western response to Putin

  • SWIFT is a vital financial messaging system principally carrying payment orders, asset movement orders, statements, advice and updates to members’ static data
  • It is integral to the efficient running of the Western financial system, and to the complexes of systems, processes and controls embedded in Western financial institutions and market infrastructures
  • It is a huge disadvantage and highly problematic not to have access to or be embedded in it
  • SWIFT is in particular integral to high-value payments, in that it is embedded into the world’s Real-Time Gross Settlement (RTGS) payment systems. The US$ Fedwire RTGS has its own internal message format, but this is fully compatible with SWIFT.
  • Likewise, the UK CHAPS system both use SWIFT IT components and SWIFT messages, and CHAPS messages are transmitted over the SWIFT network.

How the West could cut off Russia’s economy at the knees

The US Treasury Dept is acting fast

How the US actions could impact the Euro hard



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Graham Lear

What is life without a little controversy in it? Quite boring and sterile would be my answer.