ECB’s Constancio: LTROs were about easing funding stress, not solving crisis

Better to be lucky than good. That’s the message from ECB managing board member Constancio.

It never crossed our minds to solve the EU sovereign debt crisis with LTROs. They were designed to ease funding pressures, not increasing credit supply, he says.

Some times ya just get lucky. The ECB did in this case, big time.