25 maio 2010

incompetentes

With a combined €2,400bn in outstanding government debt of Portugal, Greece, Spain, Italy and Ireland – the peripheral eurozone economies – investors say the ECB may have to buy up to €600bn.
This would raise question marks over the central bank’s ability to “sterilise” these purchases – draining an equivalent amount of money from the system by taking deposits from commercial banks, which the ECB is doing on a weekly basis.
By sterilising the bond purchases the ECB hopes to ensure the policy remains neutral in terms of impact on the money supply and the bank’s monetary policy. It wants to avoid so-called “quantitative easing” - expanding the money supply and thus stoking inflation, as some of the ECB’s more hawkish members fear.
Via FT
PS: Obviamente, esta política do BCE vai precipitar uma recessão a nível da zona Euro, contribuindo para o fim da União.

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