Lost in space in the euro starship enterprise
Understanding the moves of the European Central Bank takes us into Star Trek territory
The ECB is now engaged in Star Trek banking – boldly going where no central bank has gone before. The negative interest rates and the expansion of the quantitative easing (QE) programme to commercial as well as government bonds, and the radical lending incentives in the new long term bank financing programme are extraordinary.
They are also more than a little scary (like all the best episodes of the Trek). After all, they wouldn’t be...
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