Jens Weidmann, boss of the Bundesbank, wants to restrict the power of the Greek central bank to provide Emergency Liquidity Assitance (ELA) to the Greek banks as he is afraid that Greek banks will use these reserves to purchase short-term government debt....True colors. The black flag of piracy. Restrict liquidity to force insolvency. This is the opposite of what modern central banking is designed for.
Real-World Economics Review Blog
Jens Weidmann, boss of the Bundesbank, wants the opposite of debt relief for Greece. Really.
Merijn Knibbe
