There ain't no such thing as a free lunch. A critical view on ECB.
But will it really a free lunch.
Draghi gave a new hit to central banks independency. The new TLTROs will delay banking sector restructuring sine die and will allow obsolete business models to persist.
Further reading on central banking:
The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse
Book by Mohamed A. El-Erian
The End of Alchemy: Money, Banking and the Future of the Global Economy
King, Mervyn
Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State
Tucker, Paul
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