Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2000
, countries with high indebtedness may put pressure on the ECB to follow a rather lax monetary policy characterized by low …The euro is a new currency, and the ECB as a new institution still has to establish its reputation. The best way to do … this is for the ECB to deliver a stable money. The two-pillar strategy pursued by the ECB seems to confuse the markets …