ECB’s Parking Fees Show Its Weakness
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May 7 (Bloomberg) -- European Central Bank President MarioDraghi surprised markets and analysts last week by saying thecentral bank is open to an unconventional stimulus tactic:pressuring banks to lend by charging them a fee for parking cashat the ECB.
The development does more to highlight the limits of theECB’s powers than to demonstrate its boldness in dealing withthe euro area’s economic slump.