Saving The Euro - Disaster.

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