While EU Treaties clearly stipulate that the European Central Bank “shall support the general objectives of the European Union”, politicians cannot simply stand by, hoping that it will use its discretionary power to act on them, write a group of EU experts led by Positive Money Europe.
Seit dem Ausbruch der Covid-19-Krise ist eine Debatte darüber entstanden, ob wir die Staatsschulden bei den Zentralbanken abschreiben sollten. Trotz der technischen Machbarkeit ist der Schuldenerlass nicht die erstbeste Maßnahme, für die es sich zu kämpfen lohnt.
Dall’inizio della crisi da Covid-19, è emerso un dibattito circa la possibilità di cancellare i debiti pubblici detenuti dalle banche centrali. Seppur realizzabile, la cancellazione del debito non è la miglior proposta per la quale schierarsi.
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.
By clarifying that “the ECB will neither run out of liquidity nor fail”, Christine Lagarde has put an end to the irrational logic according to which central banks could go bankrupt.
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