The ECB is now officially financing insolvent states. Despite the laws for the ECB. How is that done? Very easy the ECB does not buy bonds directly of states but in a perfidiously way. As you have read yesterday the ECB lends out money to banks with 1...
Great news for all the inaptly European banks out there. The lender of last resort, does what the FED does for ages, they are printing money. Well it's not named this of course. Because we live in time of double-speak. It's to avoid a credit crunch...