Deutsche Bank dismisses ECB conflict concerns

Deutsche Bank's chief economist sees no serious conflict between the European Central Bank's price stability objectives and its lender-of-last-resort function.

In his latest EU Monitor, Norbert Walter and his fellow economists at Deutsche Bank argue that such conflicts are minimised by the fact that "the ECB is not mandated to perform the role of a lender of last resort in the strict sense of the word."

The authors argue that there is a "frequent misunderstanding about the difference between

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