By Simon Nixon
The news that emergency lending by the European Central Bank skyrocketed this week to its highest level in 19 months is an alarming reminder that the euro crisis is far from over. In my Agenda column in the European edition of the WSJ this week I cautioned that amid all the optimism at the prospects of a European “Grand Bargain”, there will be no end to the crisis unless E.U. leasers find a way to restore confidence in the banking system too. That means action on both bank solvency and liquidity.
The news that emergency lending by the European Central Bank skyrocketed this week to its highest level in 19 months is an alarming reminder that the euro crisis is far from over. In my Agenda column in the European edition of the WSJ this week I cautioned that amid all the optimism at the prospects of a European “Grand Bargain”, there will be no end to the crisis unless E.U. leasers find a way to restore confidence in the banking system too. That means action on both bank solvency and liquidity.
