Mario Draghi , current ECB president’s helicopter money over not averse. He considers it a “very interesting concept”. Otmar Issing, former chief economist of the Bank is strictly dageben he is concerned.
The former chief economist of the European Central Bank (ECB), Otmar Issing warns before money gifts the central bank in the form of “helicopter money”. “The whole idea of the helicopter money I think is worrying for downright devastating. For this is nothing more than a declaration of bankruptcy of the monetary policy, “Issing told the German Press Agency in Frankfurt. “A central bank, has presented the money will hardly be able to regain control of the printing press.”
Draghi: “very interesting concept”
are with “helicopter money” targeted cash injections to companies and consumers meant directly from the central bank, bypassing the normal banking sector. ECB President Mario Draghi had referred this idea on demand as “very interesting concept”. The Council of the central bank have such ideas, however, so far not discussed in greater detail. “In science you can think anything, since there is no taboo. But this debate has indeed reached the public space. I think this is a total mental confusion “criticized Issing.
” Technically, there is no limit to the ammunition, content presents itself the question of what one with ever more expansive means of monetary policy aims to achieve. My concern, I can not hide, “Issing, who subsequently played after eight years as chief economist of Deutsche Bundesbank in the same position in the construction of the ECB a major role said. “What I particularly deplore is that the economic situation is in spoken in the world in a mess, can of the be no question,” said economics professor
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