Should the European Central Bank Buy Up Debt?
What's the Latest Development?
The euro zone is on the brink of breaking apart–with dire consequences for all of us–yet this is that rarest of problems, one that you can solve just by throwing money at it, points out James Surowiecki. If the European Central Bank were to commit publicly to backstopping Italian and Spanish debt, by buying as many of their bonds as needed, the worries about default would recede.
What's the Big Idea?