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Fiscal Transfers by the ECB Within Euroland
Monetary and fiscal policy are strictly related. But within the euro area monetarypolicy has unexpectedly led to huge and surreptitious fiscal trasfers via Target 2 and the commercial bank reserves.
Professor Hanno Lusting from Stanford University with a team of economists has highlighted and calculated the magnitude of these transfers. In this episode we discuss with him the economic and political implications.
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Published on 2 weeks, 1 day ago