The Greek Crisis
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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