European Central Bank President Mario Draghi’s unlimited three-year loans to euro-region banks may give Italy and Spain only temporary respite from the region’s debt crisis.
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“I see no short-term solutions to the sovereign crisis, so the ECB must buy time for the governments to work on their consolidation,” said Frankfurt Trust’s Fey. “The ECB will continue to expand its balance sheet. They will probably have to step in and support the long-end of the curve too.”
http://www.bloomberg.com/news/2012-01-20/bonds-show-return-of-crisis-once-ecb-loans-expire-euro-credit.html
...
“I see no short-term solutions to the sovereign crisis, so the ECB must buy time for the governments to work on their consolidation,” said Frankfurt Trust’s Fey. “The ECB will continue to expand its balance sheet. They will probably have to step in and support the long-end of the curve too.”
http://www.bloomberg.com/news/2012-01-20/bonds-show-return-of-crisis-once-ecb-loans-expire-euro-credit.html
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