Law and order in time of crisis: Keeping Europe afloat
Wednesday 5 May 2021 – Vol.12 Ed.18.2
Commentary: ECB asset purchases dilute European rule of law
By Thomas Mayer in Frankfurt
Political expediency is diluting the rule of law in the European Union’s monetary and fiscal policy. This may help financial markets in the shorter term, but the long-term consequences will be grim. By signalling to bond traders that it will buy newly issued government bonds in the secondary market in its purchase...
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