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How not to be a lender of last resort

by Paul De Grauwe
23 March 2012

How not to be a lender of last resort

Paul De Grauwe

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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.

The author is Professor at the London School of Economics and Associate Senior Fellow at CEPS.


About the Author


  • Author
    Paul De Grauwe
    Paul De Grauwe
    Associate Senior Research Fellow
How not to be a lender of last resort
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3176 Downloads