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.
Continue reading “How to buy government bonds when there aren’t any”
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.
Outside the Reservation 