ECB Considers Interest Rate Caps; Can Such a Scheme Possibly Work?
Sunday, August 19, 2012 9:52
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by Mike Shedlock
MISH’S Global Economic Trend Analysis
Economic Times reports European Central Bank mulls caps on borrowing costs
The European Central Bank is considering buying the bonds of crisis-wracked eurozone countries to ensure borrowing costs do not rise beyond a pre-determined level, German newsweekly Der Spiegel said Sunday.
The bank will define an upper limit for borrowing costs in countries such as Spain and Italy and intervene in the markets to ensure it is not breached, Spiegel said, without citing its sources.
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2012-08-19 09:47:58
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