January 23, 2008 (LPAC)--The European Central Bank, which is rapidly earning a reputation as the loosest tramp in Europe due to the indiscriminate way in which it passes out its financial favors, announced yesterday that it would lend another €175 billion (about $250 billion) to the banks in seven-day loans, more than the banks claim they need. Attempting to preserve the dignity of his august institution, ECB President Jean-Claude Trichet told the European Parliament today that "Particularly in demanding times of significant market correction and turbulences, it is the responsibility of the central bank to solidly anchor inflation expectations to avoid additional volatility." The ECB may not have much, but it does have its pride.