Saturday September 19, 2020

Euro debt:why can't they just agree?

Wondering why Germany, France and the ECB can't just agree on how to tackle the euro debt crisis? Here's the explanation:

17th November, 2011
Germany's nightmare: a 10 billion mark note.

Essentially because nobody agrees. Here's what the French want and what Ireland seems to favour: the European Central Bank effectively prints extra money and uses this cash to buy the debt of euro zone countries. Their borrowing costs will thus fall in the market, making it easier for them to repay their debts. Calm will be restored, so the theory goes.

The ECB has been buying some government debt, but it has so far been...

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