ECB's Targeted Lending Spree Starts Out As Flop; Modern Monetary Insanity
MishTalk
SEPTEMBER 18, 2014
Following on the "success" of the ECB''s LTRO (Long Term Refinance Operation) which did nothing to spur lending and everything to create the biggest sovereign bond bubble the world has ever seen, ECB president Mario Draghi announced a TLTRO or Targeted LTRO on September 4. If they miss the targets, they must pay the funds back in 2016.
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