The MMT Podcast with Patricia Pino & Christian Reilly cover image

#126 Dirk Ehnts: How Banks Create Money

The MMT Podcast with Patricia Pino & Christian Reilly

CHAPTER

What Is Fiscal Sustainability of Public Debt?

The e c b is trying to shift into this role as a ler of last resort. They buy up government bonds from countries like greece or italy, or even germany. But the legal basis t doesn't support anything - they never define fiscal sustain ability. So yet's a political fight, morless. Tesibe wants to see those s go. I think it's pretty clear. It's not the european commission. European commission could easily say, hey, let's get rid of the stability and gross pact. It creates negative grows and instability," he says. "But that's where we stand"

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