Greek lessons for central banks acting as lenders of last resort
Former CNB deputy asks if the eurozone's LoLR system is fit for purpose?
Greece has returned to the news headlines over the past few weeks, following a period when fears of a crisis in the country appeared to fade due to reports of positive growth and a primary budget surplus. But the new Syriza government, elected in January, wanted to renegotiate Greece’s debt and change the conditions of financial support program, which ultimately resulted in a decline in confidence in its ability to repay its debt. As is often the case in these situations, the first victims were
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