How not to be a lender of last resort

Paul De Grauwe

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

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.

JEL-codes: F3 G3 (search for similar items in EconPapers)
Pages: 2 pages
Date: 2012-03-23
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