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But the ECB is not allowed to finance governments.
The E.C.B. can and does loan huge sums to banks, but by charter it is not allowed to finance governments.
For the first time, for example, American companies like McDonald's and Caterpillar have been allowed to finance their China projects by selling renminbi-denominated bonds in Hong Kong.
He insisted it would make sales of wheat and rice more difficult unless American banks are allowed to finance the transactions and ships are allowed to make deliveries without being penalized.
To the surprise of many observers, a White House-approved committee appointed to study the issue, led by an opponent of abortion, had recommended that the government be allowed to finance fetal tissue transplantation research.
After all, the U.S. banking system had a long period of stability after World War II, based on a combination of deposit insurance, which eliminated the threat of bank runs, and strict regulation of bank balance sheets, including both limits on risky lending and limits on leverage, the extent to which banks were allowed to finance investments with borrowed funds.
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A more likely scenario is that these transfers will allow to finance government deficits, i.e., to increase its expenditures or to decrease its revenues without a need to issue debt.
Both Portugal and Spain require buyers to provide the minimum €500,000 without mortgages or any kind of debt arrangement, though they are allowed to secure financing for any additional amounts.
"He said something like this: That Yukos was financing political parties -- not just the Union of Right Forces and Yabloko, which he, President Putin, allowed them to finance, but also the Communist Party, which he, President Putin, did not allow them to finance," Mr. Kasyanov testified.
They have allowed America to finance its massive current-account deficit with apparent impunity.
Software sales made the physicist a millionaire and allowed him to finance his own research.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com