The ECB’s Lethal Inhibition

01:18 18/4/2012 - Πηγή: NewsNow
By Barry Eichengreen*ΒΕRKELEY – Last December, with Europe’s financial system on thebrink of disaster, the European Central Bank stunned the markets with anunprecedented intervention, offering banks across the eurozone essentiallyunlimited liquidity against any and all collateral for an exceptional period ofthree years.
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