January 2009
Intermediate to advanced
224 pages
4h 48m
English
On September 12, 2001, the day after the terrorist attacks in New York, the European Central Bank (ECB) lent 69.3 billion euros to its members to provide liquidity in a time of crisis. On August 9, 2007, in its largest open-market move since its inception almost a decade earlier, the ECB lent 94.8 billion euros to its members as part of an attempt to curb the credit crisis sparked by falling U.S. home and mortgage derivative prices. What could have convinced the monetary authority that oversees the largest single economy in the world that the credit crunch of 2007 was the biggest crisis ...
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