“Just as counterparties were wary of dealing with other banks while losses from US subprime bonds were unknown in 2007 and 2008, the same is again affecting interbank lending markets now as investors fear their counterparties may be heavily exposed to to Greek or Portuguese government bonds,”
More here : ? (could?)
First, the European Central Bank could restart its auctions of unlimited one-year euro liquidity. Second, the ECB and the Federal Reserve could reopen their dollar swap lines so European banks could access dollars through the ECB again. Third, the ECB could buy eurozone government debt, effectively undertaking quantitative easing.
Will?
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