European Central Bank Finally Wades in to Debt Crisis

in Market Commentary by

[dropcap]T[/dropcap]his isn’t the backstop the market was hoping for, but it’s an important development nonetheless. Despite the ECB’s anti-sovereign debt buying rhetoric, providing record liquidity to Euro area banks demonstrates its commitment to solving the crisis. Whether banks use the funds to buy up higher yielding sovereign debt remains to be seen, but at least the ECB is getting more involved.

Euro-Zone Banks Tap Big ECB Loans

Read more in the Wall Street Journal.

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