Why the ECB Refuses to be a Lender of Last Resort
November 28, 2011 at 12:44 PM EST
The euro has a matter of weeks to save itself, with several institutions now preparing for its collapse. Given this, why does the ECB still refuse to bail out Europe’s heavily indebted countries? This column provides an explanation. It says that the ECB may well be behaving rationally but adds that such behaviour is also [...]