Sinn, Hans-Werner - In: CESifo Forum 15 (2014) 1, pp. 3-36
refinancing credit to commercial banks 3. ECB government bond purchases and official bail-out programmes 3.1 From indirect to …: ESM, SMP and OMT 4. The risks and costs of the ECB policy 4.1 Potential exposure via the OMT programme 4.2 Risks related … dependency of policy 4.7 The creeping confiscation of savings 5. Economic assessment of ECB policy 6. Policy measures against …