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The ECB’s fiscal policy

Hans-Werner Sinn ()

International Tax and Public Finance, 2018, vol. 25, issue 6, 1404-1433

Abstract: Abstract While the ECB helped mitigate the euro crisis in the aftermath of Lehman, it has stretched its monetary mandate and moved into fiscal territory. This text describes and summarizes the crucial role played by the ECB in the intervention spiral resulting from its bid to manage the crisis. It also outlines ongoing competitiveness problems in southern Europe, discusses the so-called austerity policy of the Troika, comments on QE and presents two alternative paths for the future development of Europe.

Keywords: ECB; Fiscal policy; Monetary policy; Outright monetary transactions; Euro crisis (search for similar items in EconPapers)
JEL-codes: E02 E50 E52 E58 H50 H60 H63 (search for similar items in EconPapers)
Date: 2018
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