With interest rates as high as they are, andprincipal payments indexed to inflation, Jon Jonsson, anIcelandicinternationalbanker, says the solvencyofeventhenewBanksremains in doubt.
Operations including its Outright Monetary Transactions (OMTs) and the Long-Term Refinancing Operations (LTROs) helped bring down yields on eurozone sovereign bonds, making it less expensive for governments to borrow on international markets and pay off their interestpayments to creditors.
Leading an international drive to unburden hopelessly indebted Third World countries from onerous interestpayments that lock them into a vicious cycle of poverty, Clinton pledged the loan relief two years ago.