While it might be somewhat too much to say, from such a viewpoint, there is in a sense a commonality among dissatisfaction among young people in Spain for a high unemployment rate, demonstrations against fiscal austerity in Greece, and repeated conflicts on fiscal management in the United States.
Covered bonds play an important role in the monetary policy transmission process, in particular in a traditionally bank-based economy like the euro area. The covered bond purchase programme, for example, has lowered banks’ funding costs directly and thereby encouraged banks to extend more credit to firms and households at more attractive levels.