Pisani-Ferry, Jean; Wolff, Guntram B. - 2012
area's governance need to be addressed before financial stability and economic growth can return. Monetary policy cannot …The Bank of England, the Federal Reserve (Fed) and the European Central Bank (ECB) have responded to the crisis with … exceptional initiatives resulting in a major increase in their balance sheets. After the ECB's end-2011 launch of three-year bank …