The European Central Bank has now halted this vicious spiral by providing the banks with guaranteed liquidity for three years against a wide range of collateral. Reassured that they will have access to funding, the banks again have the confidence to lend.
如今，欧洲央行通过向银行提供有保障的三年流动性（以范围很广的资产作为抵押）停止了这一恶性循环。银行获得了能够得到融资的保证，因此重新获得了发放贷款的信心。