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  5. Where Do We Stand With “Whatever It Takes”?
 
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Where Do We Stand With “Whatever It Takes”?

File(s)
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Download WP22_19.pdf665.31 KB
Author(s)
Whelan, Karl 
Uri
http://hdl.handle.net/10197/12961
Date Issued
June 2022
Date Available
30T15:47:05Z June 2022
Abstract
It is ten years since Mario Draghi’s "whatever it takes" speech and the announcement of the OMT programme designed to address financial fragmentation. This paper reviews the sources of financial fragmentation including and discusses whether monetary tightening over the next few years will trigger concerns about unsustainable fiscal burdens in some euro area member states. The paper discusses the evolution of ECB policy regarding fragmentation and the practical and legal issues involved. Legal limits on sovereign bond holdings may force the ECB into some difficult choices in the coming years.
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Start Page
1
End Page
19
Series
UCD Centre for Economic Research Working Paper Series
WP2022/19
Copyright (Published Version)
2022 the Author
Keywords
  • European Central Bank...

  • Euro

  • Whatever it takes

  • Fragmentation

  • OMT

Classification
E58
E43
E63
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
https://creativecommons.org/licenses/by-nc-nd/3.0/ie/
Owning collection
Economics Working Papers & Policy Papers
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116
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Acquisition Date
Jan 29, 2023
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27
Acquisition Date
Jan 29, 2023
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