Euro crisis based on 'design flaws' in monetary union, conference told - 0 views
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Euro crisis based on ‘design flaws’ in monetary union, conference told
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The European Central Bank’s current status, where it does not act as a ‘lender of last resort’ in a similar method to other central banks, was particularly criticised.
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He said the current version of the treaty establishing the ESM, the new permanent bailout fund for the eurozone, would also not function as such a lender – and said it was “incapable of ending the crisis”.
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