Wrong way round! ECB allows Governments to delay or abandon any structural reforms by bailing them out, keeping rates at absurd levels and effectively stealing from Savers - most of them low or middle income citizens that benefit little from the asset bubble the Central Banks create.
Governments Have Put the ECB in a Bind
Cochrane on monetary policy
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People occasionally ask me how my views on economics differ from those of
John Cochrane. In a recent Cochrane post on *Fed independence*, I found a
parag...
7 hours ago
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