ECB-citaat van de dag
“History provides ample illustration that the regular occurrence of liquidity crises is an inherent feature of modern market economies and that addressing the associated policy challenge is decisive for prosperity and stability … finding the best central bank policies toward liquidity crises remains the most important challenge of modern central banking”
Ulrich Bindseil en Adalbert Winkler, “Dual liquidity crises under alternative monetary frameworks. A financial accounts perspective”, ECB working paper 1478, oktober 2012.
Wat er gebeurt als het misgaat blijkt uit onderstaande grafiek.
