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- Author(s): EL-ERIAN, MOHAMED A.1
- Source:
Foreign Policy. Mar/Apr2013, Issue 199, p26-27. 2p. 1 Chart.
- Subject Terms:
- Additional Information
- Subject Terms:
- Subject Terms:
- Abstract:
The article discusses the role of the European Central Bank (ECB) in the European financial crisis as of March 2013, with information on the challenges posed by the underlying economic conditions of the eurozone countries. Topics include the insolvency issues in peripheral European economies such as Greece, Ireland, and Portugal, the credit downgrading of the majority of European countries by major rating agencies, and direct lending supported by the ECB to assist countries with the economic and financial restructuring required to solve their debt issues.
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