That is the good oil according to ECB Member Liikanen. He also mentioned the need to not exclude ANY potential measures to fix the situation given how exceptional these circumstances are. I am wondering if this is a veiled indication that he is a believer that nationalisation of European Banks may be the way to go, as opposed to the US who just cant seem to stomach the idea.
Given that a number of central banks offical interest rates are approaching zero it is essential that less common methods are embraced.