The Weaker The Eurozone, The Stronger The ECB?

Yesterday (Thursday), Eurozone banks were offered virtually free money from the European Central Bank through the Targeted Long Term Refinancing Offering (“TLTRO”).  Guess what happened?  An almost universal “non/nein/no/não/geen/óxi thank you,” Mr. Draghi!  OK, if we must, we will take just €130 billion of your free money because honestly…, we have no one to lend it to.  In total, 306 Eurozone banks took in the TLTRO funds.  That’s a bit less than €2.6 billion per bank on...