Cancel culture: should govvies held by central bank be torn up?

By Lewis McLellan, Sam Kerr
11 Feb 2021

Thomas Piketty and 100 other economists from across Europe put their signatures to an op-ed this week calling for the ECB to cancel its holdings of government debt. GlobalCapital debates whether it is radical but wise policy making, or would make matters worse still.

No: ECB debt forgiveness would unleash chaos

Calls for the European Central Bank to forgive the sovereign debt on its balance sheet may seem harmless, given that most countries are not expected to ever pay off the debt. But such a move would set a ...

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