New piece with former fellow ECB hand @thinicemacro.bsky.social.
At the Munich Security Conference, the ECB made its geopolitical move, opening repo lines to central banks globally.
It was probably the most consequential policy announcement at the conference.
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www.cer.eu/insights/ecb...
cer.eu
The ECB's bid to strengthen the euro's global role
As dollar dominance wobbles, Europe should boost the euro’s reach, led by bolder liquidity lines from the ECB.
