Behind the ECB’s Wall of Money
The "wall of money" that the ECB unleashed to markets just before Christmas will have a huge influence on Europe's economy, and an even larger impact on its politics. This approach to ending the eurozone's sovereign-debt might work, but it could also destroy the single market.
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BRUSSELS – Throughout the crisis period, the European Central Bank’s behavior has been conditioned by the tension between what it can do and what it is allowed to do.