Wednesday, December 21, 2011

What Does ECB’s Record Loan Mean for Europe’s Banks?

by Lauren Mills

Wall Street Journal

December 21, 2011

There are mixed feelings about the implications of the ECB’s three-year long term refinancing operation (LTRO).

Here’s what analysts and economists are saying:

Richard McGuire, Rabobank, wonders:

“Does this record LTRO take-up imply carry trade support for the periphery or more reflect banks’ acute financing difficulties?”


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