A quick fix? Draghi and ECB lending

An article in the New York Times of December 22 discusses the fact that 523 banks have now borrowed a total of 489.2 billion euros ($640 billion) at the ECB's new, favorable rate. 

A bit surprising, to me at least, the same article states that "[I]t turns out that may be enough to stem the European crisis for at least a few years, and go a long way to recapitalizing banks in the process."

A few years? Really?

See the article here.

© J.W.B. Bos 2014