Thursday June 4, 2020

ECB: The case for the defence

Donal O'Donovan says problems rooted in Euro's faulty architecture

6th December, 2015

The role of the European Central Bank (ECB) in the euro debt crisis continues to generate major controversy.

Recently, Ajai Chopra, former head of the IMF team in Dublin, strongly criticised the ECB’s stance during the Irish bailout.

Mario Draghi, current ECB president, forcefully retorted “don’t blame the fire damage on the fire brigade”. What is one to make of this debate? There were clear shortcomings in the ECB’s euro area policies prior...

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