Target neutralised: ECB says “market neutrality” needs rethinking
Once upon a time, market neutrality was supposed to be an untouchable holy principle of the ECB’s quantitative easing, but today the ECB has finally made loud and clear this principle should be...
View ArticleECB Debt Cancellation: A last resort, not a first-best strategy
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, debt cancellation is not the...
View ArticleThe truth is out: The ECB cannot run out of money
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. The post The truth...
View ArticleAnnulation de dette par la BCE: pourquoi le jeu n’en vaut pas la chandelle
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...
View ArticleCancellazione del debito detenuto dalla BCE: perché il gioco non vale la candela
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...
View ArticleEZB-Schuldenerlass: Keine erstbeste Strategie; höchstens eine Notfalllösung
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...
View ArticleThe ECB needs political guidance on secondary objectives
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...
View ArticleEuropean Citizens Bank: The future of the Eurozone is yours
To contribute to the Conference on the future of the EU and the ECB’s strategy review, Positive Money Europe and its partners have launched the European Citizens Bank, a participatory project which...
View ArticleChristine Lagarde re-affirms willingness to consider lower rates for climate...
Despite its decision to start raising interest rates, the European Central Bank President Christine Lagarde signaled an interest in introducing a “green TLTRO” system - a reference to Positive Money...
View ArticleIs the ECB’s corporate portfolio really getting greener?
The Corporate Sector Purchase Programme was supposed to boost the real economy, but it ended up supporting the fossil fuel industry The post Is the ECB’s corporate portfolio really getting greener?...
View Article
