our areas of work
Depuis le début de la crise Covid-19, un débat a émergé sur la possibilité d’annuler les dettes publiques détenues par les banques centrales. Bien que la proposition soit faisable techniquement, notre analyse stratégique révèle que les efforts nécessaires pour gagner de telles campagnes seraient très importants, alors que ses gains potentiels sont incertains et plus faibles qu’on ne le pense.
In an epic myth-busting exercise, Christine Lagarde recently affirmed that “the ECB will neither run out of liquidity nor fail”, weighing into an odd but highly important debate about the special nature of central bank accounting.
Since the outbreak of the Covid-19 crisis, a debate has emerged on whether we should write off public debts owed to central banks. Despite its technical feasibility, cancelling debt is not the first-best proposal to fight for.
Positive Money Europe has published a new briefing outlining 12 recommendations on how the accountability of the ECB could be improved.
The conditions are ideal for the EU’s supranational institutions to raise necessary funds for the economic recovery and green transition. The European Investment Bank has been offering a real European safe asset for some time and is likely to continue to do so, provided the accommodative monetary policy of the ECB continues.
Eight MEPs from across the political spectrum have joined forces to ask the European Central Bank to properly research helicopter money. By doing so, MEPs are showing that cross-party support exists in the European Parliament for the ECB to make direct payments to eurozone residents.