Friday, 22 August 2008

What's the biggest SIV in the world?

The ECB of course. Silly question. And they are even beginning to worry about it. The WSJ has details of an interview Nout Wellink gave yesterday. He is reported to have said:
“If we see that banks become very dependent on central banks, then we must stimulate them to tap other sources of funding,”
(It was in Dutch, however, so I can't read the original.) What that stimulus will be, however, is an interesting question. Or is it time for a Spanish banking crisis?

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