Illing, Gerhard; König, Philipp Johann - In: DIW Wochenbericht 81 (2014) 24, pp. 541-554
. As the crisis worsened, especially in the southern countries of the euro area, the ECB was forced to take measures which … last resort. The ECB provided the banking sector with almost unlimited liquidity and, in addition, purchased government … purchase government bonds of distressed countries in the euro area, if necessary, and under strict conditions. It was forced to …