Darán más crédito los bancos sólo con las medidas del BCE?

En The Corner, JP Martín Arrese nos plantea serias dudas.

The ECB has delivered an open invitation for the financial system to get moving. Yet, its sound supervisory roadmap is bound to dent current skyrocketing expectations. Until it removes uncertainties over the forthcoming health-check exercise, the banking community will continue to place money in safe bets, sovereign bonds and high profile companies’ securities becoming the obvious choice. As long as SMEs are deprived of effective toolkits for reducing individual risk exposure, enabling them wider credit access, the funding stimulus will fail to provide full-fledged support for swift recovery.

Let no one expect growth from gathering pace should it solely rest on the back of monetary easing. Even if it proves a necessary condition, it falls short of delivering the comprehensive background badly in need to harness a widespread and solidly anchored economic expansion.