Schulz: Markets Doubt ECB as Lender of Last Resort

The transcript discusses the Eurozone's risk pricing, particularly during the Euro crisis, and the role of the ECB as a lender of last resort. It examines the impact of the ECB's QE program on bond spreads and explores the debate between currency depreciation and structural reform as solutions to competitiveness issues, with a focus on Italy.

What arguments were presented regarding the need for a depreciation of the Italian currency?

What are the long-term sustainable solutions to competitiveness problems mentioned in the text?