Instead, continuing doubts about the soundness of banks in southern Europe could prevail, making banks in the core wary of dispatching their spare funds southward.
If banks in northern Europe had to pay in order to hold money on deposit with the central bank they might be more prepared to start lending again to banks in the south.
Many applauded his announcement in the earnings call of a joint venture with Interzero, a German firm, to build Europe's largest sorting plant for chemical recycling in southern Germany.