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Tag Archives: Paul De Grauwe
Are ECB’s Greek bond purchases really irrelevant for the private sector?
Motivated by the current discussions about the Greek debt problems, Paul De Grauwe and Yuemei Ji have a VoxEu column addressing “Why the ECB should not insist on repayment of its Greek bonds”. In a debate that currently is, and has been for a long while, marred by political idiosyncrasies and ethnic stereotypes of the worst kind, it is a sound and healthy contribution based on basic public accounting. In all fairness, however, the authors cannot help contributing to the nationalistic platitude by making snide remarks about “hard-working German tax payers”. Also, in an earlier VoxEu column on the same subject they almost question the intellectual sanity of German economics … Continue reading
Posted in Monetary policy
Tagged debt crisis, European Central Bank, Greece, Paul De Grauwe, Securities Markets Programme, seigniorage, Yuemei Ji
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