Category: Interviews & Press

The ECB needs political guidance on secondary objectives

Eurozone and ECB, Interviews & Press

The ECB’s mandate was established three decades ago, when none of the current challenges were foreseen. It is therefore only natural that the ECB’s mandate today is subject to different and sometimes contradicting interpretations across the euro area. While the European Court of Justice has a role to play in identifying safeguards and limits to ensure that the ECB respects the boundaries set by the EU Treaties, it should not decide in the place of elected policymakers on the future orientations of the ECB’s mandate.

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Green QE is not about green bonds

Eurozone and ECB, Interviews & Press

A recurring misinterpretation of “Green QE” is that central banks should restrict their asset purchases solely to green bonds. This op-ed was originally published on FT Alphaville on December 18, 2019, in the context of my former role as Executive Director at Positive Money Europe. The recent declarations of new European Central Bank president Christine Lagarde on the possible role

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