ASSESSMENTS

Reconsidering the Role of the European Central Bank

Apr 11, 2014 | 14:35 GMT

The European Central Bank presents the new 10 Euro banknote on Jan. 13.
The European Central Bank presents the new 10 Euro banknote on Jan. 13.

(Hannelore Foerster/Getty Images)

The ECB has helped stabilize the eurozone and bring down borrowing costs for troubled states during the crisis years through small purchases of the sovereign debt of countries such as Greece, Spain and Italy. It has also granted banks easier access to liquidity and has managed the expectations of financial markets by announcing that it will do everything to preserve the eurozone. While these actions were necessary to calm financial markets, the ECB has been less successful in helping Europe overcome its economic crisis....

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