A derogatory term for the European Central Bank, introduced by financial journalists around 2010. At that time, the ECB had to double its subscribed capital to cushion impending write-downs on toxic securities it had taken over. The purchase of government bonds of stumbling eurozone members, not permitted by any set of rules, was perceived at the time as the first breaking of a taboo in monetary policy. – See ECB Fall from Grace.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/