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How not to be a lender of last resort. CEPS Commentary, 23 March 2012

De Grauwe, Paul. (2012) How not to be a lender of last resort. CEPS Commentary, 23 March 2012. [Policy Paper]

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    Abstract

    While acknowledging that the massive amounts of liquidity injected into the eurozone banking system by the ECB were absolutely necessary to save Europe’s banking system, Paul De Grauwe now criticizes these lender-of-last-resort operations as ill-designed, making it likely that the ECB will have to discontinue them in the not so distant future.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Mar 2012 10:44
    Number of Pages: 2
    Last Modified: 23 Mar 2012 10:44
    URI: http://aei.pitt.edu/id/eprint/34246

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