European Banks and U.S. Dollars
September 28, 2011 at 07:10 AM EDT
I sometimes get asked why European banks are in apparent need of US dollars, and why the Fed lending money to the European Central Bank (ECB). Ah, the wacky world of international finance. I can’t pretend to understand it fully–or even very well–but here are some thoughts nevertheless. (I’m learning a lot about this stuff from [...]