Intra-eurosystem debts

Whittaker, John (2011) Intra-eurosystem debts. UNSPECIFIED.

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Abstract

Germany is a reluctant supporter of the EU funds which are being used in the ‘bailout’ of Ireland, and it insists on strict ‘austerity’ conditions, concerned about risk and moral hazard. However, through its central bank, Germany is lending €325bn (December 2010) to other central banks in the eurosystem. The Central Bank of Ireland (CBI) has borrowed €146bn from the eurosystem in order to support its banks. This ‘bailout’ of Ireland via the eurosystem is larger than its official EU ‘bailout’ (€146bn as against €67bn) and much cheaper (1% interest as against 5.8%), but it exposes Germany to similar risks.

Item Type:
Other
Uncontrolled Keywords:
/dk/atira/pure/core/keywords/economics
Subjects:
?? ECONOMICS ??
ID Code:
51933
Deposited By:
Deposited On:
09 Dec 2011 10:13
Refereed?:
No
Published?:
Published
Last Modified:
12 Sep 2023 04:07