Wednesday, December 28, 2011

ECB balance sheet soars to $ 3.55 trillion

ECB Balance Sheet Increases to a Record $3.55 Trillion on Loans to Banks

The European Central Bank’s balance sheet soared to a record 2.73 trillion euros ($3.55 trillion) after it lent financial institutions more money last week to keep credit flowing to the economy during the debt crisis.
Lending to euro-area banks jumped 214 billion euros to 879 billion euros in the week ended Dec. 23, the Frankfurt-based ECB said in a statement today. The balance sheet increased by 239 billion euros in the week and was 553 billion euros higher than three months ago.
Comment:  FED and ECB decided to inflate together. How will they ever be able to stop the avalanche of inflation once it begins rolling?

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