Over the past years, the ECB has always mindfully avoided rejecting helicopter money on legal grounds. This view was reaffirmed by Christine Lagarde in a recent letter to one MEP, who argued that more research on the topic is needed.
Positive Money Europe is looking for a full-time Policy and Research Officer to produce in-house research, manage research projects with external partners and deliver an ambitious research agenda on reforms to the European Central Bank.
As a new recession looms in the runup of the Coronavirus crisis, Positive Money Europe’s newest report outlines why and how “helicopter money” should be deployed as soon as possible in the Eurozone.
Europe needs helicopter money to cope with the severe upcoming recession while avoiding a massive unsustainable debt burden. As soon as the economic recovery phase starts, the ECB should boost consumption in a fair way by sending money directly to all citizens.
The Eurogroup confirmed the highly needed suspension of fiscal constraints on Eurozone governments. But allowing countries to spend more does not mean all of them can afford to spend more.