Jens van 't Klooster on Recent ECB Policy: A Paradigm Shift Without Legislative Change
Macro Musings with David Beckworth
00:00
The German Constitutional Court Decision That Even the Older Programme Was Illegal
I think no economy in the history of the world has made this kind of transition without also doing some forms of credit idance, or at least very heavy public steering of whereverte floes are going. But and there i also agree very much with what you emphasize. It's very shaky, right? If you do this with in existing mandates, without this very strong legislative basis, ye, ther're going to be accidents along the way. You've already seen in 20 20, there was the carls a, the german constitutional court ruling that even the older e c b's debt purchase programme was illegal.
Transcript
Play full episode
