Publication
23 Mar 2012
What went wrong in the way the European Central Bank (ECB) designed its lender-of-last-resort operations? The decision of the ECB to delegate the decision to buy government bonds to panicked bankers has three unfortunate consequences that will become clear now that the central bank has completed its second liquidity injection.
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English (PDF, 2 pages, 94 KB) |
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Author | Paul De Grauwe |
Series | CEPS Commentaries |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2012 Centre for European Policy Studies (CEPS) |