There is little point in slowing down the contagion by forcing the economy to accelerate. Instead of blunt stimulus measures, the ECB must respond to the Coronavirus by launching targeted support for SMEs.
In a recent speech, the German central bank’s governor objected to Positive Money Europe’s “green quantitative easing” proposal. But his objections are biased, wrong-headed and surmountable.
Seven years after Mario Draghi’s heroic “whatever it takes” speech, the European Central Bank needs to find new ways to reaffirm its ability to act.
Critics of Christine Lagarde’s nomination as future ECB President argue central banks should be only led by academics and technocrats, not politicians. They are wrong.
Digital currencies have great potential, but ceding control to a cartel of tech companies is not the answer.
Contrary to common belief, the European Central Bank’s current mandate and legal framework already gives ample room for action in the field of climate change. Now is the time to move the debate to the next stage: policy design.