Arnold, Ivo - In: Intereconomics 56 (2021) 5, pp. 274-277
, however, lead to a widening of interest rate spreads and new bond market tensions in the euro area. This article argues that …Following the twin crises of sovereign debt and COVID-19, the ECB risks being stuck in a situation of fiscal dominance … the credibility of the ECB is undermined if it is perceived as aiming to close interest spreads. Interest spreads between …