- ECB pres on reuters
There wasn’t any call to do more. It is quite clear that all cental banks have done a lot, each one within its own mandate.All of us have been very active.
Contrary to George Osborne’s pre-summit comments that greater monetary activism to boost recovery would be discussed, suggesting he’s keen for the BOE to act further
- Draghi also said the ECB should play a “catalytic”, not leading, role in any ABS ( asset-backed securities) scheme to boost lending
ABS allows banks to move some credit risk off their balance sheets by packaging loans up and selling them on to other investors. A scheme that German fin min Schaueble is firmly against and reported by Die Spiegel yesterday as telling his party it would amount to
covert state financing
