Lender of last resort not an option for ECB, say analysts

ecb-frankfurt

European officials clashed over the weekend on whether legislation should be changed to give the European Central Bank (ECB) power to act as lender of last resort in the eurozone.

On Sunday, outgoing Italian prime minister Silvio Berlusconi said the ECB should become lender of last resort if it wants to save the euro. "A [central] bank is a lender of last resort and a guarantor for the currency, such as the dollar or sterling. This is what the ECB should become if we want to save the euro and wi

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