Author: Andrea Terzi

A primer on Central Bank Money: Do you know what a dollar, or a euro, really is?

As the ECB begins this week its Public Sector Purchase Programme (PSPP), also known as QE, banks in the Eurozone begin selling a variety of sovereign bonds and securities from European institutions and national agencies to their National Central Banks. The sales will be settled in “central bank money“. So the question today is: Do we know what central bank money is?

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