Tag: LTRO
-
Pushing on a String: LTRO, Endogenous Money and the Eurozone Crisis
(slightly wonkish, as Paul Krugman would put it) At a press conference about a month ago, the President of the ECB, Mr Mario Draghi, raised the possibility of a new round of LTRO (Long Term Refinancing Operation), which, for those less familiar with the topic, consist of large-scale, long-term, low-interest loans to commercial banks across…