The European Central Bank (ECB) should consider canceling the public debt it buys during the coronavirus crisis to help nations recover from the economic blowreports Bloomberg, citing an interview with Riccardo Fraccaro, Undersecretary of the Cabinet of the Italian government, the closest adviser to Prime Minister Giuseppe Conte.
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“Monetary policy must support the expansionary fiscal policies of member states in every possible way.”
This could include “cancel sovereign bonds purchased during the pandemic or perpetually extend their maturity“.
A proposal has been made for a “green rule” that exempts public expenditures related to environmental investment from deficit calculations.
For the central bank, it is one thing to be independent from politicians, and another to not understand where the world is going. “
The ECB should help countries to relaunch their economies. “
EUR / USD remains on the rise
EUR / USD renews three-month highs near 1.1940, benefiting from a weaker US dollar. The pair is trading at time of writing at 1.1937, gaining 0.12% on the day.
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