"Enough with the debt brake."
(Reading time: 2 - 4 minutes)
A letter from ... Dr. Christian Jasperneite. The chief strategist of M.M.Warburg & CO says why saving no longer makes sense after the resignation of Bundesbank President Weidmann.
I know - those who have known me for a while may rub their eyes in surprise at this headline. After all, I've been arguing against runaway national debt for decades.
But here I am, and I can't help it. For ten years, Jens Weidmann, as head of the Bundesbank, has fought tirelessly to prevent the ECB from becoming an institution that sees its essential task as refinancing eurozone states on the cheap. Now he has thrown in the towel. We are facing a period in which the ECB's monetary policy is no longer in the tradition of an independent Bundesbank but that of...