The Germans are averse to bold monetary policies. And they have some allies in Europe: the present Dutch and Austrian governments, for instance.
They do not forget their bad experience with printing money, a century ago. And since they can block the decisions of the European Central Bank (ECB), the other countries can do very little, even if they are in the majority.
The post-2008 years can tell us a lot about what may happen in the next months and years, in Europe, in the aftermath of the coronavirus pandemic. Continue reading “Coronavirus, Helicopter Money, Adair Turner and the end of the Euro”