The Austrian magazine Profile Extra features a three-page
interview with Prof. Dr. Michael Wohlgemuth, Director of Open Europe Berlin, in
which he warns that current ECB measures to save the euro will have inflationary
effects: “You have to ask yourself if in the fifth year of the crisis, the
damage caused by the water deployed during the fire-fighting operations will not
be greater than the fire alone could have caused”. He notes the lack of
democratic justification for the ECB’s current bond-buying programmes: “As soon
as the ECB mixes monetary and fiscal policy, there is a democratic problem of
the first order”.
Open Europe Berlin: Profile Extra
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