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How not to be a lender of last resort

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  • de Grauwe, Paul

Abstract

While acknowledging that the massive amounts of liquidity injected into the eurozone banking system by the ECB were absolutely necessary to save Europe’s banking system, Paul De Grauwe now criticizes these lender-of-last-resort operations as ill-designed, making it likely that the ECB will have to discontinue them in the not so distant future.

Suggested Citation

  • de Grauwe, Paul, 2012. "How not to be a lender of last resort," LSE Research Online Documents on Economics 51511, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:51511
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    File URL: http://eprints.lse.ac.uk/51511/
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    More about this item

    JEL classification:

    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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