Negative interest rates have a pernicious effect on human beings. They corrode the structures of society, culture and people’s mindsets, triggering widespread resignation and even nihilism.
Rather than having the ECB continue its path of raising just the boats of the rich, it is high time for the delivery of “helicopter money” to everyday Europeans.
We now witness the marks of the inverted universe of ultra-loose monetary policy and lax central banking.
The scope of central banking has expanded significantly in recent years. The former IMF boss is well prepared for those challenges.
If Italy’s government tames its radical instincts it could be allowed to get away with a few things. But if it is confrontational with the EU it will be heading for trouble.
If a radical government in Rome plunges Italy into a deep crisis, it would still be an Italian crisis — rather than a “euro“ crisis.
France and Germany will be very flexible in their response to Italian demands, irrespective of the official rhetoric from Berlin and Paris.
Instead of seeking war reparations from Germany, Poland should take steps that bring the country closer to the euro area to secure the country’s long-term economic interests.
The “Universal Banking Model” has become a threat to economic, financial and social stability.