ECB tough talk must be aimed at funding abusers

European Central Bank councillors at the weekend gave their starkest warnings yet that the current arrangements for liquidity provision will be tightened. The ECB needs to tread carefully — while some ‘abuses’ are indeed storing up problems, others have had a benign effect and should be encouraged.

  • 26 Aug 2008
At the annual symposium of monetary policy chiefs hosted by the Federal Reserve Bank of Kansas City this weekend — the central bankers’ talking shop at Jackson Hole — several European Central Bank councillors warned that the easy liquidity provided by the ECB so far during the credit ...

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