PublicPolicy.ie held its second online conference today on “Ireland’s COVID19 Crisis Response: Perspectives from Social Science.” I gave a talk on a panel titled “EU Dimensions of a Policy Response”. I mainly discussed the role of the ECB, covering some of more extreme potential measures it could take. I discuss monetary financing, helicopter money and the idea of the Eurosystem selling all its gold and returning the money to governments.
Tag Archives: ECB
After The Greek No, What Next?
Here is a piece I wrote for Huffington Post on the implications of the Greek No vote.
ECB Decision Likely Means Greek Banks Stay Closed
Some comments on today’s ECB Governing Council decision to cap ELA for Greek banks.
The Grexit Mechanism: What It Means For The Future Of the Euro
A discussion of the mechanism that is potentially driving Greece out of the Eurozone and its implications for the future of the euro.
Greece, The Euro and Gunboat Diplomacy
Prior to Monday’s umpteenth “summit to beat all summits”, some context on how we arrived at the current situation in Greece.
The Puny Fiscal Effects of European QE
Lots of people think the euro area’s central banks will be handing back all the interest payments they receive on their QE bonds, providing a nice boost to the taxpayer. They won’t. Grim details here.
How Does QE Work? A Picture Worth a Thousand Words
With QE purchases starting a few days ago, some thoughts on how QE works with a nice graph to explain.
Can QE Be Bad For Taxpayers?
Some new thoughts on the “can you make losses printing money” theme, this time with a Hans-Werner Sinn angle.
So What Did ECB Just Do To Greece?
The situation in Greece continues to tick over. An explanation of the ECB’s decision tonight to cut off various Greek assets from its eligible collateral list.
What’s Going On with Greece and the ECB?
It’s complicated. But it’s got nothing to do with technocratic ECB rules.