The most powerful risk management arguments for accepting the risks entailed by the programmes were that the markets were overpricing the risks associated with the related assets, and that the Eurosystem’s action could contribute to mitigating market concerns.
the Bird is on the Wing” (from The Rubáiyát) Now, nine hundred years later and in the closing months of the same millennium, these words of wisdom become very appropriate once again, referring of course at this juncture to the Y2K problem of our modern electronic age.