The Governing Council of the European Central Bank issued a set of measures to increase and extend the perpetual systemic bailout, ensuring the psychopaths on the financial markets that their cocaine parties are paid for over the next two years:
1. It kept interest rates unchanged.
2. It increased by EU500 billion the Pandemic Emergency Purchase Program (PEPP), up to EU1,850 billion this year (compare this with the peanuts promised for the “recovery“ to start coming mid-2021).
3. It extended long-term refinancing loans (TRLT III) by 12 months, to June 2022 and raised the upper borrowing limit for banks, from 50 to 55% of their eligible loans (collateral).
4. Accordingly, it extended to June 2022 the “easing“ of collateral quality for TRLT refinancing.
