Round-Up: ECB Helicopter-Drops EUR 500B Of Capital To Ease Liquidity Crunch

Yesterday the ECB rolled out the (moderately bigger) guns. Here is a trio of articles discussing the move. As Evans-Pritchard points out, only EUR 200B is really new capital, and others join in in pointing out that it still doesn't solve the problem of banks needing to raise EUR 2.5T next year to meet stricter new capital requirements (we have to think that deadline will get extended).

• ECB's €489bn loan to eurozone banks fails to calm markets(UK Telegraph, Louise Armitstead)
• Herr Draghi or Signor Draghi, and the ECB's Santa Rally(UK Telegraph, Ambrose Evans-Pritchard)
• European Bank in Strong Move to Loosen Credit (New York Times)