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Europe w/ Anton Jäger & Dominik Leusder

The Dig

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Is the ECB a Crisis Manager?

The ECB as a kind of supernatural institution becomes this default or the sort of emergency crisis manager which otherwise it couldn't become. National governments who would like it to stop with these ambitious rescue programs because they represent domestic constituencies that are part of the deflationary bloc and see QE as somehow decimating their savings. The Fed is not the most democratic institution on the planet but at least there's a far clearer degree of political control that comes with that well with the ECB it's very detached from any concrete policy influence that European citizens could have on it.

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