The Governing Council of the ECB, for instance, most recently – in its meeting on May 7, 2009 – created the possibility for the Eurosystem to buy euro-denominated covered bonds issued in the euro area, and made the EIB an eligible counterparty to the Eurosystem’s monetary policy operations.
A lot is happening in the Old World – and the sheer volume of news may sometimes even be overwhelming, putting into question the value of information. In fact, I don’t blame anyone overseas for taking cover from the bombardment of information coming out of Europe. European banks, in particular, have often made it on the front pages to non-European newspapers and journals.