ECB faces showdown over government debt

The European Central Bank's emergency efforts to address the continent's debt crisis represent a highly un­or­tho­dox leap into politics and an exceptional foray into the financial markets.

But while these steps in recent weeks have helped keep the continent's crisis at bay, in particular by keeping borrowing costs for several large countries under control, the central bank has not been able to put the European economy on a sounder footing, according to analysts and government officials.

The cost of doing that — both in terms of money and political compromise — could put even more stress on Europe's struggling experiment with a common currency.

Read full article >>

Associated Press 24 Aug, 2011

--
Source: http://feeds.washingtonpost.com/click.phdo?i=b446eceedff2c74e1060f8ca5604ad7c
~
Manage subscription | Powered by rssforward.com