Exclusive Trichet interview: It is time for banks to start lending again
Q: At what specific moment did you realise that we were in a financial crisis of unprecedented magnitude?
A: On August 9, 2007 we were the first central bank to identify that we were starting to see a hugely turbulent period as a consequence of abnormal behaviour in financial markets. That day we lent €95 billion for 24 hours to the market at a fixed rate.
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