Instrumentul anti-fragmentare al BCE a devenit instrumentul pro-risipă și pro-deficit.
Robin Brooks
Robin Brooks28 aug. 2025
The ECB at various points has intervened in bond markets to cap yields, most recently in 2022. That's produced an equilibrium - no surprise - where high debt countries run wide fiscal deficits because they can. France is a symptom. The ECB is the disease.
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