Question: What is being caused by links between soverign debt and failing national banks?

Answer: the sickness of the euro

The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] <hl> But the German government has resisted this proposal, and other analyses indicate that " the sickness of the euro " is due to the linkage between sovereign debt and failing national banking systems. <hl> If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "<hl> the sickness of the euro <hl>" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

But the German government has resisted this proposal, and other analyses indicate that " <hl> the sickness of the euro <hl> " is due to the linkage between sovereign debt and failing national banking systems.

question: What is being caused by links between soverign debt and failing national banks?, context: The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.


Question: Which country has been resistant to attempts to make the soverign debt assets more like the U.S. Treasury?

Answer: the German government

The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] <hl> But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. <hl> If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But <hl> the German government <hl> has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

question: Which country has been resistant to attempts to make the soverign debt assets more like the U.S. Treasury?, context: The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.


Question: Who began to increase their coverage of weaker debts?

Answer: The European Central Bank

<hl> The European Central Bank had stepped up the buying of member nations debt. <hl> In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

<hl> The European Central Bank <hl> had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

question: Who began to increase their coverage of weaker debts?, context: The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.


Question: What would have to happen to make European sovereign debt assets more like what is found in the U.S. Treasury?

Answer: a collective guarantee of the member states' solvency

The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. <hl> To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] <hl> But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, <hl> a collective guarantee of the member states' solvency <hl> would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

question: What would have to happen to make European sovereign debt assets more like what is found in the U.S. Treasury?, context: The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.


Question: Why did propsals about making the European sovereign debt assets more like the US Treasury?

Answer: the crisis of 2010

The European Central Bank had stepped up the buying of member nations debt. <hl> In response to the crisis of 2010 , some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. <hl> To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

The European Central Bank had stepped up the buying of member nations debt. In response to <hl> the crisis of 2010 <hl>, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.

In response to <hl> the crisis of 2010 <hl> , some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills.

question: Why did propsals about making the European sovereign debt assets more like the US Treasury?, context: The European Central Bank had stepped up the buying of member nations debt. In response to the crisis of 2010, some proposals have surfaced for a collective European bond issue that would allow the central bank to purchase a European version of US Treasury bills. To make European sovereign debt assets more similar to a US Treasury, a collective guarantee of the member states' solvency would be necessary.[b] But the German government has resisted this proposal, and other analyses indicate that "the sickness of the euro" is due to the linkage between sovereign debt and failing national banking systems. If the European central bank were to deal directly with failing banking systems sovereign debt would not look as leveraged relative to national income in the financially weaker member states.


Question: What did the ECB do to help stabilise the financial system during the subprime mortgage crisis?

Answer: loaned billions of euros to banks

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. <hl> The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. <hl> In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it <hl> loaned billions of euros to banks <hl> to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

question: What did the ECB do to help stabilise the financial system during the subprime mortgage crisis?, context: The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.


Question: Why did the ECB intervene during the subprime mortgage crisis?

Answer: to stabilise the financial system

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. <hl> The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system . <hl> In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks <hl> to stabilise the financial system <hl>. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks <hl> to stabilise the financial system <hl> .

question: Why did the ECB intervene during the subprime mortgage crisis?, context: The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.


Question: Who decided, along with the ECB, to use Term auction to help stabilize the financial crisis and improve dollar liquidity?

Answer: Federal Reserve System

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. <hl> In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market. <hl>

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the <hl> Federal Reserve System <hl> under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

question: Who decided, along with the ECB, to use Term auction to help stabilize the financial crisis and improve dollar liquidity?, context: The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.


Question: Besides cooperating with other financial institutions, how does the ECB help to maintain stability?

Answer: contributes to maintaining a stable financial system and monitoring the banking sector

The bank must also co-operate within the EU and internationally with third bodies and entities. <hl> Finally, it contributes to maintaining a stable financial system and monitoring the banking sector . <hl> The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it <hl> contributes to maintaining a stable financial system and monitoring the banking sector <hl>. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

Finally, it <hl> contributes to maintaining a stable financial system and monitoring the banking sector <hl> .

question: Besides cooperating with other financial institutions, how does the ECB help to maintain stability?, context: The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.


Question: When did the ECB and Federal Rserve decide to collaborate on Term auction facility?

Answer: December 2007

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. <hl> In December 2007 , the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market. <hl>

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In <hl> December 2007 <hl>, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

In <hl> December 2007 <hl> , the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

question: When did the ECB and Federal Rserve decide to collaborate on Term auction facility?, context: The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.


Question: What is a perk of the central bank?

Answer: it can make as much money as it deems needed

<hl> In central banking, the privileged status of the central bank is that it can make as much money as it deems needed . <hl> In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.

In central banking, the privileged status of the central bank is that <hl> it can make as much money as it deems needed <hl>. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.

In central banking, the privileged status of the central bank is that <hl> it can make as much money as it deems needed <hl> .

question: What is a perk of the central bank?, context: In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.


Question: What kinds of assets does the US Federal Reserve buy?

Answer: bonds issued by the Federal government

In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. <hl> In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government . <hl> There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.

In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, <hl> bonds issued by the Federal government <hl>. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.

In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, <hl> bonds issued by the Federal government <hl> .

question: What kinds of assets does the US Federal Reserve buy?, context: In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.


Question: What kind of asset will the Federal Reserve purchase in mass quantities at a time of crisis?

Answer: commercial paper

In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. <hl> There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper . <hl> The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.

In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as <hl> commercial paper <hl>. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.

There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as <hl> commercial paper <hl> .

question: What kind of asset will the Federal Reserve purchase in mass quantities at a time of crisis?, context: In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.


Question: What is the purpose of buying commercial paper in a time of financial crisis?

Answer: to ensure that adequate liquidity is available for functioning

In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. <hl> The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system. <hl>

In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is <hl> to ensure that adequate liquidity is available for functioning <hl> of the financial system.

question: What is the purpose of buying commercial paper in a time of financial crisis?, context: In central banking, the privileged status of the central bank is that it can make as much money as it deems needed. In the United States Federal Reserve Bank, the Federal Reserve buys assets: typically, bonds issued by the Federal government. There is no limit on the bonds that it can buy and one of the tools at its disposal in a financial crisis is to take such extraordinary measures as the purchase of large amounts of assets such as commercial paper. The purpose of such operations is to ensure that adequate liquidity is available for functioning of the financial system.


Question: Which agencies have became the authority on assessing the risk of financial institutions?

Answer: Moody's and S&P

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. <hl> In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P . <hl>

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: <hl> Moody's and S&P <hl>.

In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: <hl> Moody's and S&P <hl> .

question: Which agencies have became the authority on assessing the risk of financial institutions?, context: Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.


Question: When was Basel II adopted?

Answer: 2005

<hl> Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005 , transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. <hl> In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in <hl> 2005 <hl>, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in <hl> 2005 <hl> , transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008.

question: When was Basel II adopted?, context: Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.


Question: What said that agencies had to start using Moody's and S&P to assess financial institutions?

Answer: the Basel II recommendations

<hl> Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations , adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. <hl> In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of <hl> the Basel II recommendations <hl>, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of <hl> the Basel II recommendations <hl> , adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008.

question: What said that agencies had to start using Moody's and S&P to assess financial institutions?, context: Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.


Question: Since when have the Basel II recommendations been in effect?

Answer: 2008

<hl> Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008 . <hl> In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since <hl> 2008 <hl>. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since <hl> 2008 <hl> .

question: Since when have the Basel II recommendations been in effect?, context: Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.


Question: Where is the European Central bank located?

Answer: Frankfurt

<hl> The bank is based in Frankfurt , the largest financial centre in the Eurozone. <hl> Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The bank is based in <hl> Frankfurt <hl>, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The bank is based in <hl> Frankfurt <hl> , the largest financial centre in the Eurozone.

question: Where is the European Central bank located?, context: The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.


Question: What decided where the bank was to be located?

Answer: Amsterdam Treaty

The bank is based in Frankfurt, the largest financial centre in the Eurozone. <hl> Its location in the city is fixed by the Amsterdam Treaty . <hl> The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the <hl> Amsterdam Treaty <hl>. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

Its location in the city is fixed by the <hl> Amsterdam Treaty <hl> .

question: What decided where the bank was to be located?, context: The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.


Question: When did the bank move to it's new headquarters?

Answer: 2014

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. <hl> The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. <hl> The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in <hl> 2014 <hl> which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

question: When did the bank move to it's new headquarters?, context: The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.


Question: What previously stood where the bank is now?

Answer: the former wholesale market

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. <hl> The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. <hl> The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of <hl> the former wholesale market <hl> in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

question: What previously stood where the bank is now?, context: The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.


Question: When did construction of the new bank begin?

Answer: October 2008

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. <hl> The main construction began in October 2008 , and it was expected that the building will become an architectural symbol for Europe. <hl> While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in <hl> October 2008 <hl>, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.

The main construction began in <hl> October 2008 <hl> , and it was expected that the building will become an architectural symbol for Europe.

question: When did construction of the new bank begin?, context: The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau. The building is approximately 180 metres (591 ft) tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for Europe. While it was designed to accommodate double the number of staff who operate in the former Eurotower, that building has been retained since the ECB took responsibility for banking supervision and more space was hence required.


Question: After the loan program was announced, which countries borrowed the most?

Answer: Greece, Ireland, Italy and Spain

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. <hl> The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain . <hl> This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in <hl> Greece, Ireland, Italy and Spain <hl>. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.

The by far biggest amount of €325bn was tapped by banks in <hl> Greece, Ireland, Italy and Spain <hl> .

question: After the loan program was announced, which countries borrowed the most?, context: On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.


Question: What would happen if some of the banks were to begin buying govenrment bonds?

Answer: easing the debt crisis

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. <hl> It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis . <hl>

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively <hl> easing the debt crisis <hl>.

It also hoped that banks would use some of the money to buy government bonds, effectively <hl> easing the debt crisis <hl> .

question: What would happen if some of the banks were to begin buying govenrment bonds?, context: On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.


Question: How much does the ECB have to have to pay off it's own debts?

Answer: €200bn

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. <hl> This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. <hl> It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off <hl> €200bn <hl> of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.

question: How much does the ECB have to have to pay off it's own debts?, context: On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.


Question: How do you prevent a credit bottleneck?

Answer: keep operating and loaning to businesses

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. <hl> This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. <hl> It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.

On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time <hl> keep operating and loaning to businesses <hl> so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.

question: How do you prevent a credit bottleneck?, context: On 21 December 2011 the bank instituted a programme of making low-interest loans with a term of three years (36 months) and 1% interest to European banks accepting loans from the portfolio of the banks as collateral. Loans totalling €489.2 bn (US$640 bn) were announced. The loans were not offered to European states, but government securities issued by European states would be acceptable collateral as would mortgage-backed securities and other commercial paper that can be demonstrated to be secure. The programme was announced on 8 December 2011 but observers were surprised by the volume of the loans made when it was implemented. Under its LTRO it loaned €489bn to 523 banks for an exceptionally long period of three years at a rate of just one percent. The by far biggest amount of €325bn was tapped by banks in Greece, Ireland, Italy and Spain. This way the ECB tried to make sure that banks have enough cash to pay off €200bn of their own maturing debts in the first three months of 2012, and at the same time keep operating and loaning to businesses so that a credit crunch does not choke off economic growth. It also hoped that banks would use some of the money to buy government bonds, effectively easing the debt crisis.


Question: What is an LTRO?

Answer: longer-term refinancing operation

<hl> The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. <hl> Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

The ECB's first supplementary <hl> longer-term refinancing operation <hl> (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

question: What is an LTRO?, context: The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.


Question: How long was the time to maturity on an LTRO?

Answer: six-month

The ECB's first supplementary longer-term refinancing operation (LTRO) with <hl> a six-month maturity was announced March 2008. <hl> Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

The ECB's first supplementary longer-term refinancing operation (LTRO) with a <hl> six-month <hl> maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

question: How long was the time to maturity on an LTRO?, context: The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.


Question: When were the first supplemental LTRO's offered?

Answer: March 2008

<hl> The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008 . <hl> Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced <hl> March 2008 <hl>. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced <hl> March 2008 <hl> .

question: When were the first supplemental LTRO's offered?, context: The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.


Question: How long had the time to maturity been previously?

Answer: three months

The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. <hl> Previously the longest tender offered was three months . <hl> It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was <hl> three months <hl>. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.

Previously the longest tender offered was <hl> three months <hl> .

question: How long had the time to maturity been previously?, context: The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.


Question: How many bids were recorded at the auction for the first 12 month LRTO?

Answer: close to 1100 bidders

The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. <hl> The first 12-month LTRO in June 2009 had close to 1100 bidders . <hl>

The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had <hl> close to 1100 bidders <hl>.

The first 12-month LTRO in June 2009 had <hl> close to 1100 bidders <hl> .

question: How many bids were recorded at the auction for the first 12 month LRTO?, context: The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.


Question: In what country is St. John's located?

Answer: Canada

<hl> St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada . <hl> St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, <hl> Canada <hl>. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, <hl> Canada <hl> .

question: In what country is St. John's located?, context: St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.


Question: What is the name of the island that St. John's is located?

Answer: Newfoundland

<hl> St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. <hl> St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in <hl> Newfoundland <hl> and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

question: What is the name of the island that St. John's is located?, context: St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.


Question: What city is ranked 20th in largest metropolitan area for Canada?

Answer: St. John's

<hl> St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. <hl> St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

<hl> St. John's <hl> (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

question: What city is ranked 20th in largest metropolitan area for Canada?, context: St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.


Question: Where on the Avalon Peninsula is St. John's located?

Answer: eastern tip

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. <hl> It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. <hl> With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the <hl> eastern tip <hl> of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

question: Where on the Avalon Peninsula is St. John's located?, context: St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.


Question: In what year did St. John's have a population of 214,285?

Answer: 2015

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. <hl> With a population of 214,285 as of July 1, 2015 , the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. <hl> It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, <hl> 2015 <hl>, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.

With a population of 214,285 as of July 1, <hl> 2015 <hl> , the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada.

question: In what year did St. John's have a population of 214,285?, context: St. John's (/ˌseɪntˈdʒɒnz/, local /ˌseɪntˈdʒɑːnz/) is the capital and largest city in Newfoundland and Labrador, Canada. St. John's was incorporated as a city in 1888, yet is considered by some to be the oldest English-founded city in North America. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. With a population of 214,285 as of July 1, 2015, the St. John's Metropolitan Area is the second largest Census Metropolitan Area (CMA) in Atlantic Canada after Halifax and the 20th largest metropolitan area in Canada. It is one of the world's top ten oceanside destinations, according to National Geographic Magazine. Its name has been attributed to the feast day of John the Baptist, when John Cabot was believed to have sailed into the harbour in 1497, and also to a Basque fishing town with the same name.


Question: Which city is considered one of the oldest settlements in North America?

Answer: St. John's

<hl> St. John's is one of the oldest settlements in North America, with year-round settlement beginning sometime after 1630 and seasonal habitation long before that. <hl> It is not, however, the oldest surviving English settlement in North America or Canada, having been preceded by the Cuper's Cove colony at Cupids, founded in 1610, and the Bristol's Hope colony at Harbour Grace, founded in 1618. In fact, although English fishermen had begun setting up seasonal camps in Newfoundland in the 16th Century, they were expressly forbidden by the British government, at the urging of the West Country fishing industry, from establishing permanent settlements along the English controlled coast, hence the town of St. John's was not established as a permanent community until after the 1630s at the earliest. Other permanent English settlements in the Americas that predate St. John's include: St. George's, Bermuda (1612) and Jamestown, Virginia (1607).

<hl> St. John's <hl> is one of the oldest settlements in North America, with year-round settlement beginning sometime after 1630 and seasonal habitation long before that. It is not, however, the oldest surviving English settlement in North America or Canada, having been preceded by the Cuper's Cove colony at Cupids, founded in 1610, and the Bristol's Hope colony at Harbour Grace, founded in 1618. In fact, although English fishermen had begun setting up seasonal camps in Newfoundland in the 16th Century, they were expressly forbidden by the British government, at the urging of the West Country fishing industry, from establishing permanent settlements along the English controlled coast, hence the town of St. John's was not established as a permanent community until after the 1630s at the earliest. Other permanent English settlements in the Americas that predate St. John's include: St. George's, Bermuda (1612) and Jamestown, Virginia (1607).

question: Which city is considered one of the oldest settlements in North America?, context: St. John's is one of the oldest settlements in North America, with year-round settlement beginning sometime after 1630 and seasonal habitation long before that. It is not, however, the oldest surviving English settlement in North America or Canada, having been preceded by the Cuper's Cove colony at Cupids, founded in 1610, and the Bristol's Hope colony at Harbour Grace, founded in 1618. In fact, although English fishermen had begun setting up seasonal camps in Newfoundland in the 16th Century, they were expressly forbidden by the British government, at the urging of the West Country fishing industry, from establishing permanent settlements along the English controlled coast, hence the town of St. John's was not established as a permanent community until after the 1630s at the earliest. Other permanent English settlements in the Americas that predate St. John's include: St. George's, Bermuda (1612) and Jamestown, Virginia (1607).