NEW YORK The European Central Bank has finally launched a policy of quantitative easing (QE). The key question at this stage is whether Germany will give the ECB the freedom of maneuver needed to carry out this monetary expansion with sufficient boldness.

European Central Bank (ECB)

The ECB and Its Critics

The ECB Grows Up

The Naked ECB

I am delighted that this message is increasingly echoed by the political mainstream, including most recently by European Central Bank President Mario Draghi.

The ECB s Faulty Weapon

Europe s Central Bank at Sea

The ECB s Lethal Inhibition

The ECB s Leap into the Unknown

Behind the ECB s Wall of Money

The European Central Bank also lost its credibility.

Out of Step at the ECB

The ECB Picks Up The Pace

The ECB s Honeymoon is Over

The ECB s Secret Bailout Strategy

The ECB s Tone Deaf President

Germany s Case Against the ECB

Together, the ECB and the EFSF could do what the ECB cannot do on its own.

NEW YORK It is now clear that the main cause of the euro crisis is the member states surrender of their right to print money to the European Central Bank.

Helping the ECB Cross the Rubicon

Ecb Is Now Europe s Anchor

In each case, a major objective was to reduce the burden on the ECB, which had advanced the money by printing it and would have run into serious difficulties without help.

Is the ECB Doing Enough?

The ECB s New Macroeconomic Realism

John Stewart Mill vs. the European Central Bank

That points towards reliance on the ECB.

The ECB s credibility is on the line.

The voting structure in the ECB is flawed.

It was the first time that the president of the ECB has had to reveal that a decision was not unanimous.

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The State Bank of the Russian Empire () was the main bank of the Russian Empire from 1860 to 1917.

Some propose bringing in the European Central Bank to leverage the EFSF s funds.

Only the ECB can provide this insurance.

Yet the EBRD does more than make much needed loans.

The European Central Bank is in a different place entirely.

That is exactly what the ECB is doing.

So, will it be once more into the breach for the ECB?

The ECB is different, for some good reasons.

His colleague on the ECB Governing Council, Bundesbank president Axel Weber, seems to have gotten the message that the more ECB officials talk up inflationary fears, the more the trade unions will ask.

Banking supervision was not included among the ECB s objectives, though one article of the treaty gives the system of European central banks as a whole the task of contributing to effective supervision.

To a limited extent, the same applies to the EU bailouts and ECB interventions.

The root cause of the problem is the new European constitution.

LONDON Mario Draghi, the president of the European Central Bank, has repeatedly claimed that the ECB will do everything necessary to save the euro.

But the European Central Bank, notably by ECB board member Lorenzo Bini Smaghi, has elegantly spelled out the case against debt reduction a case that is politically significant and deeply moral.