The European Central Bank has spent much of this decade convincing markets that the euro is irreversible. It is therefore mildly ironic that policy makers in Frankfurt may be in trouble because of the sudden return of confidence in the single currency. Investors...
Talk to critics of the European Central Bank’s ultra-loose monetary policy and a common theme emerges: concern about financial stability. Quantitative easing is seen as creating dangerous asset bubbles. Negative interest rates are said to hurt bank profitability,...
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