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Any idea about the feasibility of MIgeru's suggestion? Is it possible for Spain to issue  debt , arrange that the spanish banks buy this debt and then somehow the ECB buys it?

How would it be done? How would someone use the window discount of the ECB for banks to make this deal? Or would some kind of guarantee be enough?

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Wed Apr 28th, 2010 at 12:49:42 PM EST
The process of buying through private banks is because of the provisions that rule out giving special treatment to public institutions.

The process of getting the ECB to do that would be convincing a sufficient number of heads of Eurozone Central Banks plus appointed members of the Executive Board that its a good idea. It would probably make sens to have a radically simply and direct means of doing it proposed by someone firmly committed to the idea and have some "compromise" solutions that accomplish the same fundamental objective available to be pushed in response to the outrage generated by the simple proposal.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Thu Apr 29th, 2010 at 02:41:10 PM EST
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