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Kotsikopoulos, Nikos

ThePressProject,Greece


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1 article of this author has been cited in the European Press Review so far.


The Press Project - Greece | 05/02/2015

ECB forgetting its real job

The ECB can hardly be described as independent after its decision, the web portal The Press Project writes: "The ECB's stance is political and identical with the German stance. For a central bank, and the central bank for all the members of the Eurozone including Greece, this stance is irresponsible. The decision clearly has nothing to do with the solvency of the [Greek] banks given that they recently passed the ECB stress test and have been examined and adequately capitalised. ... So why limit borrowing? The ECB's answer is clear and indeed politically motivated: the revision of the new bailout programme for Greece hasn't concluded yet. And the ECB's decision doesn't fit in with what a central bank is supposed to do: its job is to act as the lender of last resort in the event of short-term needs."

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