Canceling the public debt that the European Central Bank (ECB) bought during the coronavirus pandemic could be very dangerous, warned the member of the Governing Council and governor of the Bank of France, Francois Villeroy, in an interview with the Ouest France newspaper on Friday.
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“Consider the Debt cancellation would be a very dangerous path“.
“When the euro was introduced, France, like the other states, pledged by treaty to always reimburse the central bank. It is an absolutely essential pact of trust ”.
His comments come in response to suggestions by Italian Undersecretary of the Cabinet Riccardo Fraccaro, Prime Minister Giuseppe Conte’s closest aide, that the ECB should consider canceling the public debt it acquired during the coronavirus crisis to help nations recover. of the economic blow.
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