THE European Central Bank gets a lot of brickbats, even though it has shown great flexibility at several stages of this crisis (including all the way back in August 2007, when it was quick to supply liquidity to the markets as the subprime mess was revealed). Mario Draghi has reversed his predecessor's rate rises and lent €1 trillion to European banks. Unfortunately, it does not look as if it has done enough.
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, wh... Read Post
Banks will pay back only another 3.5 billion of emergency 3-year loans from the European Central Bank next week. ||| Frankfurt - Banks will pay back only another 3.5 billion of emergency 3-year loans from the European Central Bank i... Read Post