ECB liquidity is not a free lunch | Gavyn Davies | Insight into macroeconomics and the financial markets from the Financial Times – FT.com
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"What can there possibly be not to like about this? A few things. Some observers point to the danger of a zombie banking system, kept alive artificially as a wing of the central bank."
.. a zombie banking system ..
Brings to mind the dinosaurs-behemoths that became extinct after the impact of the meteorite, .. not out of the impact as such but because of the fallout followed. They continued to carry on in business-as-usual manner though dwindling in numbers as the accompanying fall-out taken its toll. And in true analogy it looks as if neither the central banks .. dinosaur-behemoths themselves that feed them will escape a similar fate, they will not manage to survive either. As their dinosaur-counterparts, the larger predators feeding off the carcasses of the weaker dinosaurs, managed to survive for longer.
The meteorite impact the massive bailout a few years ago and the fallout the distrust people amply apportion to the banking system.
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