Illing, Gerhard; König, Philipp Johann - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 81 (2014) 24, pp. 541-554
In the wake of the recent European debt crisis, the European Central Bank (ECB) has grown significantly in importance …. 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 …