At the height of the European sovereign debt crisis, the European Central Bank decided to purchase distressed European …

preserve the integrity of the single currency. This has challenged the current framework of the Monetary Dialogue exercise …

inter-bank borrowing has gradually been replaced by collateralised central bank lending. This has in turn affected … collateral availability and the need for high-quality assets. The European Central Bank has reacted to this development by … accept bank loans as collateral). In the context of these developments, this article assesses and comments on various aspects …

achieve this without adding further risky assets to the European Central Bank’s balance sheet and thereby transferring credit …

have another tool at their disposal that has the potential to stimulate infl ation: helicopter money. …