This was the question the ECB had to answer about Estonia when it instituted its Public Sector Purchase Programme with the added stipulation that bonds would be bought proportionally to each member state’s share in the ECB’s capital key.
What a great guy. Wolfgang Schäuble is still in office, but we are already missing him. Germany’s greatest finance minister ever. One of the few genuine pro-Europeans in the Merkel government. A friend of the French. And of the Greeks.
The sheer hypocrisy of the farewell notes we have read in recent times about Wolfgang Schäuble is sickening. Among those are leading economists, maybe because they need to ingratiate themselves with the new powers, now that the SPD is departing the German government.
By Wolfgang Münchau
For all those of you who think the German elections are boring, consider the following anecdote. Alexander Gauland, one of the two AfD leaders in this week’s election has effectively issued a death threat to a German minister, Aydan Özoguz. He said he wanted to “dispose of her” in Anatolia. Ms Özoguz is a German citizen whose parents immigrated from Turkey. She is the German government’s chief official responsible for integration.