Demary, Markus, (2016), “Why the ECB is not to blame for low interest rates”, LSE Europpblog, 22 Αugust
In the latest set of EU stress tests, several German lenders performed poorly. As Markus Demary writes, some of this performance has been blamed on low interest rates squeezing the profitability of lenders. He argues that while the ECB has frequently been blamed for this situation, the reality is more complex and instead reflects long-term trends which can only be addressed by lasting structural reforms.
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- Jobst, Andy, Lin, Huidan, (2016), “The ECB’s Negative Rate Policy Has Been Effective but Faces Limits”, iMF-direct, 10 Αugust
- Gros, Daniel, (2016), “Negative rates and seigniorage: Turning the central bank business model upside down – the special case of the ECB”, Voxeu, 27 June