Quantitative Easing (QE) because the ECB's (Public Sector Purchase Program) PSPP program involved the purchase of the bonds of … bonds of the own sovereign by the national central bank should increase the risk for the remaining private bond holders … announced. However, the initial fall in risk premia might have been due to the expectation of the bond being effective in …

Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area … bank of the bonds of their own sovereign should increase the risk for the remaining private bond holders. This might seem … initial fall in risk premiums may have been due to expectations of the bond purchases proving effective in lowering risk …

explains that gold has been used as collateral in the past and how a gold-backed bond might work and how it could lower yields … in the context of the euro crisis. This move is then compared to the ECB’s now terminated Securities Market Programme … by specific countries and not by the largest shareholders of the ECB, it would turn out to be more transparent, it would …

explains that gold has been used as collateral in the past and how a gold-backed bond might work and how it could lower yields … in the context of the euro crisis. This move is then compared to the ECB’s now terminated Securities Market Programme … by specific countries and not by the largest shareholders of the ECB, it would turn out to be more transparent, it would …

should deal primarily with the asset side of the ECB balance sheet. [...] -- Accountability ; bail-out ; bond purchases …, by bond purchases, national fiscal policies could from now on dominate the common monetary policy. This note argues that … they are quite right. The ECB has indeed become more dependent in political and financial terms. The ECB has decided to …

, by bond purchases, national fiscal policies could from now on dominate the common monetary policy. This note argues that … they are quite right. The ECB has indeed become more dependent in political and financial terms. The ECB has decided to … sterilise its bond purchases – compensating those purchases through sales of other bonds or money market instruments to keep the …

main focus is on the Outright Monetary Transactions (OMT) Programme which is praised by some as the ECB’s “magic wand … countries of the Euro Area. The second main part of the paper assesses which other tools the ECB could use in order to stimulate … the economy in the Euro Area. It does so by delivering details on whether and how the effectiveness of the ECB’s policies …