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



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.


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© The Author(s) 2017

Authors and Affiliations

  1. 1.Nicos Poulantzas InstituteAthensGreece

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