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Grouped Articles
Strong Eurozone Growth Shows Payoff of ECB Stimulus
WSJ 07/14/2017
Mario Draghi Is Likely Lay Out End to Europe’s Quantitative Easing
WSJ 08/20/2017
As European Central Bank Eases Emergency Measures, Risks May Lurk
The New York Times 10/26/2017
As Fed Tightens, Europe Hangs Loose
WSJ 12/14/2017
ECB to End Bond-Buying Program in December as Crisis-Era Policies Wind Down
WSJ 06/14/2018
The euro declines by 11% for 2015 by March 2015, falling to 7 cents short of parity with the U.S. dollar.
Grouped Articles
Euro’s Tumble Brings It Closer to Parity With U.S. Dollar
Wall Street Journal 03/11/2015
Strong Dollar Stands in Manufacturing Sector’s Way
Wall Street Journal 03/16/2015
Torrent of Cash Exits Eurozone
Wall Street Journal 03/23/2015
E.C.B. Sees Early Progress From Its Bond-Buying Program
New York Times 04/15/2015
ECB’s Stimulus Moves Fall Short of Market Expectations, Hammering Stocks
Wall Street Journal 12/03/2015
Forget the New iPhone. For Apple, It’s All About the Dollar.
New York Times 03/26/2016
The risk for 80% of the bond purchases will be taken by each central bank within the eurozone, the remaining 20% will be shared between the central banks and the ECB. The program is carefully crafted to make sure risks of default or prices of a bond going down are not spread from one country to other countries in the eurozone. This was the only way to come up with a fair outcome that did not burden other countries such as Germany and create moral hazard. Eurozone economies expect to see growth in 2015 and have emerged from the crisis period of 2012-2013. The eurozone now can use the extra boost in lending promoted by the ECB, similiar to what happened with the Federal Reserve in the U.S.
Grouped Articles
How ECB Bond Purchases Will Work
Wall Street Journal 01/23/2015
European Central Bank Bets Big on Curing the Economy
New York Times 01/22/2015
Eurozone Nations Face Stronger Pressures to Lift Economies
New York Times 01/22/2015
E.C.B. Sees Early Progress From Its Bond-Buying Program
New York Times 04/15/2015
ECB’s Stimulus Moves Fall Short of Market Expectations, Hammering Stocks
Wall Street Journal 12/03/2015
ECB Move Prompts Volatile Trading in Eurozone Bonds, Euro
WSJ 12/08/2016
Grouped Articles
European Markets Jolted by ECB Proposal
Wall Street Journal 01/21/2015
ECB Executive Board’s QE Proposal Calls for Roughly €50 Billion in Bond Buys Per Month
Wall Street Journal 01/21/2015
How ECB Bond Purchases Will Work
Wall Street Journal 01/23/2015
European Central Bank Bets Big on Curing the Economy
New York Times 01/22/2015
Eurozone Nations Face Stronger Pressures to Lift Economies
New York Times 01/22/2015
E.C.B. Sees Early Progress From Its Bond-Buying Program
New York Times 04/15/2015
Grouped Articles
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
European Central Bank Chief Looks for Silver Bullet
New York Times 06/03/2014
ECB Unveils Rate Cuts, Lending Package
Wall Street Journal 06/05/2014
Wall Street Journal 06/10/2014
ECB’s Coeuré Sends Strong Signal on Asset Purchases
Wall Street Journal 12/18/2014
Peter Praet of E.C.B. Says More Eurozone Stimulus May Be Needed
New York Times 12/31/2014
Unilever and Sanofi issue corporate bonds at rates close to zero in 2016.
Grouped Articles
Unilever Almost Borrowing for Free Following ECB Bond-Buying Plans
Wall Street Journal 04/26/2016
European Central Bank Leaves Rates Unchanged
WSJ 09/08/2016
Negative Rates Are Working (a Bit)
WSJ 09/07/2016
ECB Move Prompts Volatile Trading in Eurozone Bonds, Euro
WSJ 12/08/2016
Strong Eurozone Growth Shows Payoff of ECB Stimulus
WSJ 07/14/2017
ECB to End Bond-Buying Program in December as Crisis-Era Policies Wind Down
WSJ 06/14/2018
Grouped Articles
European Corporate Bonds Are Clear Winners After ECB Move
Wall Street Journal 03/10/2016
Why the ECB’s Big Guns Can’t Win This War
Wall Street Journal 03/10/2016
Stocks Shrug Off ECB’s Stimulus Measures
Wall Street Journal 03/10/2016
Why Fireworks Fizzled at ECB Party
Wall Street Journal 03/10/2016
E.C.B.’s Bold Stimulus Takes Aim at Eurozone Economy
New York Times 03/10/2016
European Credit Market Rally Continues After ECB Move
Wall Street Journal 03/12/2016
In Spain most mortgage interest rates are tied to the 12 month Euribor, set at about 0.3% above the 12 month Euribor rate, which was 0.187% in April 2015. In Portugal most morgage interest rates are set using the average of the 3 and 6 month Euribor rate, which are close to zero. The result is significant reduction in mortgage payments by a third to half of the original mortgage payment. This is providing significant relief to homeowners with mortgages in Spain, Portugal and Italy. Spain and Portugal suffer from a severe housing crisis and high unemployment. This result of the ECB monetary policy, aids the economic recovery in Europe.
Grouped Articles
Tumbling Interest Rates in Europe Leaves Some Banks Owing Money on Loans to Borrowers
Wall Street Journal 04/14/2015
E.C.B. Sees Early Progress From Its Bond-Buying Program
New York Times 04/15/2015
ECB’s Mario Draghi Signals Boost to Stimulus Program
Wall Street Journal 10/23/2015
Wall Street Journal 10/23/2015
Loan Growth Suffers at Spanish Banks
Wall Street Journal 11/13/2015
Economic Unease Puts Top Central Bankers Under Renewed Pressure
Wall Street Journal 01/22/2016
The purchases of Italian and Spanish bonds by the European Central Bank in addition to its holdings of 75 billion euros of Portuguese, Greek and Irish bonds creates additional balance sheet risk for the ECB. Losses in the value of collateral could wipe out the 10 billion euro capital base of the ECB. The pressing need to give resources and new powers to the European Financial Stability Facility so that this agency could do the bond buying in the place of the ECB.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
ECB’s Coeuré Sends Strong Signal on Asset Purchases
Wall Street Journal 12/18/2014
European Markets Jolted by ECB Proposal
Wall Street Journal 01/21/2015
Quiet Start to Central Bank Bond-Buying Program for the Eurozone
New York Times 03/09/2015
Wall Street Journal 03/10/2015
Wall Street Journal 08/08/2011
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