Only the ECB can improve bank credit supply
Without a European Funding for Lending scheme, conditions will continue to worsen
By Christopher Bowdler | University of Oxford
A recent Free exchange column discusses the European Central Bank's troubles in providing support to peripheral economies (summary here). We are inviting experts in the field to comment on the piece and related research. Michael McMahon, a macroeconomist at the University of Warwick commented here. Gilles Moec, co-head of European economic research at Deutsche Bank, added thoughts here. Luis Garicano, professor of economics at the London School of Economics, contributed here. Next up is Christopher Bowdler, a fellow in economics at Oriel College, University of Oxford.
More from Free exchange
Religious competition was to blame for Europe’s witch hunts
Many children are still persecuted as alleged witches in Africa for similar reasons
Has BRICS lived up to expectations?
The bloc of big emerging economies is surprisingly good at keeping its promises
How to interpret a market plunge
Whether a sudden sharp decline in asset prices amounts to a meaningless blip or something more depends on mass psychology