More Emergency Injections for a Dying System
In a statement issued March 13, the European Central Bank confirmed that the financial system is bankrupt and depends on a perennial life-support regime from central banks to survive. Therefore, quantitative easing (QE) will continue once it ends. The statement reads: “The Eurosystem will provide liquidity through a broad mix of instruments, including short-term credit operations (i.e. MROs) and three-month […]
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