Detail After the Sugar Rush: Return of the Euro Crisis   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8781 (Apr. 2012), page 73-74. Topik: Economic Policy; Central Banks; Commercial Banks; International Relations Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.71 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The high is over. The European Central Bank's two long-term refinancing operations (LTROs) in December and February saw commercial banks borrow over EUR 1 trillion ($1.3 trillion) of three-year money at the ECB's main interest rate, which it had cut to 1%. Ostensibly a scheme to keep euro-area banks afloat, the LTROs also boosted flagging public-debt markets in the zone's southern periphery, as banks used some of the cash to buy high-yielding bonds. That effect has faded. Spain's ten-year government-bond yield has been rising since the second tranche of three-year ECB cash was doled out. This week it reached almost 6%, the highest level since November. The U-turn owes a lot to the shifting dynamics of the euro-zone bond markets, which have also affected Italy. Missteps by Spain's new government have not helped. Beneath all this lie deeper fears about Spain's injured banks, the stringency of the government's fiscal plans, and the impact of both on an already weak economy. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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