The ECB has proffered a fresh round of cheap funding for the banks (TLTROs) but that is life-support.
It is not a monetary propellant.
“The TLTROs are an admission that the banks are still broken. They still cannot get money from the market at viable cost,” said Mr Ferguson.
Ambrose Evans-Pritchard 27 MARCH 2019
ECB
“The TLTROs are an admission that the banks are still broken. They still cannot get money from the market at viable cost,” said Mr Ferguson.
Ambrose Evans-Pritchard 27 MARCH 2019
ECB
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