Europe's Central Bank Maneuvers Crisis Intervention
By: John Ydstie //
December 14, 2011
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The European Central Bank has ruled out large scale bond purchases to save struggling countries from their mounting debts. But the ECB has said it will extend unlimited credit to European banks. Some observers say these low-interest bank loans could be a back door way to address the debt crisis. National banks would have a new source of cash to buy their home country's sovereign debt.
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