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The European Central Bank has implemented a very ambitious monetary policy since the financial crisis of 2008 …, intervening heavily in the eurozone economies. This policy has generated substantial risks to both the ECB’s primary task and its …
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information, have meant that the European financial system has become less bank-based and more market-based. This trend has been …
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Two recent proposals for overcoming the euro area crisis make the case for monetary financing of the public sector. Watt proposes that the ECB finances public investment directly, while Pâris and Wyplosz contend that public debt may be effectively restructured by burying parts of it in the...
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the bank has put its independence at risk. The bank’s vow to do “whatever it takes” to save the euro has added a second … mandate could expose the bank to national and European political demands, thereby endangering its prized independence. …
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