Analysis: For markets, euro zone QE no longer unthinkable

It is some measure of the depth of concern at Europe's debt crisis that some market players are actively discussing the chance of the European Central Bank printing euros -- something it has said it will never do.

Unlike the Bank of England or the U.S. Federal Reserve, the ECB does not have a history of creating massive amounts of new money through asset purchases and has never seemed open to such a move given that its mandate is to keep inflation in check.

Even at the height of 2008's financial turmoil, the closest the bank went to so-called quantitative easing was the purchase of relatively obscure covered bonds and it has sterilized all of its other liquidity measures to prevent any impact on inflation.

Read Full Article from Reuters

- Posted: 2011-09-29 11:40:05

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