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The Internal Impact and External Influence of the Greek Financial Crisis pp 47–70Cite as

Palgrave Macmillan

The ECB’s Non-standard Monetary Policy Measures and the Greek Financial Crisis

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Abstract

This chapter examines and assesses the relation between the European Central Bank’s (ECB) non-standard monetary policy measures and the Greek financial crisis. The initial non-standard monetary policy measures were taken in the context of the Greek financial crisis. However, Greece has been excluded from the renewed versions of the ECB’s non-standard measures on non-monetary grounds. The Greek experience points to the inadequacies and weaknesses of ECB monetary policy, which limit its role as a lender-of-last-resort and its potential for crisis resolution.

Marica Frangakis is an independent researcher (frangaki@otenet.gr; http://academia.edu). She is a member of the Board of the Nicos Poulantzas Institute and a member of the Steering Committee of the EuroMemo Group (http://euromemo.eu).

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Authors and Affiliations

  1. Nicos Poulantzas Institute, Athens, Greece

    Marica Frangakis

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  1. Marica Frangakis
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Editors and Affiliations

  1. University of Macedonia, Thessaloniki, Greece

    John Marangos

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Frangakis, M. (2017). The ECB’s Non-standard Monetary Policy Measures and the Greek Financial Crisis. In: Marangos, J. (eds) The Internal Impact and External Influence of the Greek Financial Crisis. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-60201-1_4

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  • DOI: https://doi.org/10.1007/978-3-319-60201-1_4

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-319-60200-4

  • Online ISBN: 978-3-319-60201-1

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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