EU Daily | ECB sees ‘turning point’ in lending conditions
July 30, 2009 at 09:33 AM EDT
[Skip to the end] Yes, central banks have finally managed to restore a degree of ‘market functioning’ after full year or more of ‘extraordinary measures’ which mainly served to demonstrate a lack of understanding of basic monetary operations. Note that only after automatic stabilizers began to reverse the slide at year end did the lending environment [...]