If the ecb makes money more expensive, then not only the national budgets of the eurozone members will be brought to their knees, but also the banks. the ecb will have to cut interest rates and if the Fed does not follow suit, they will be totally trapped. always remember that a decade of zero interest rate policy has created a zombie economy on which everything now hangs.
How would you characterise or quantify the velocity of money in euro zone?
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Collapsed? Need new lockdowns to push liquidity into the system
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