23 Mar 2012

How not to be a lender of last resort

Paul De Grauwe

0
Download Publication

3284 Downloads

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.

Related Publications

Browse through the list of related publications.