Despite past criticisms, the European Central Bank has prevented a meltdown of EU banks and helped to stave off a global depression

Collignon, S. (2011). Despite past criticisms, the European Central Bank has prevented a meltdown of EU banks and helped to stave off a global depression.
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With the leadership of the European Central Bank set to change hands in November, Stefan Collignon assesses the bank’s performance under the outgoing president Jean- Claude Trichet, and finds that ECB under his leadership prevented meltdown of the European banking system and averted a global depression.

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