Bundesbank Chief Rejects French Far-Left Debt Cancellation Plan, Warns of Hyperinflation Risk
6 Articles
6 Articles
"Such a measure would open a Pandora's box" that could lead to hyperinflation, warns Joachim Nagel, the boss of the German central bank.
Bundesbank Chief Rejects French Far-Left Plan to Cancel Debt
Bundesbank chief Joachim Nagel said a French far-left plan to reduce the country’s debt mountain by canceling the portion held by central banks would be forbidden under the bloc’s rules and could lead to hyperinflation.
Joachim Nagel strongly criticises the presidential candidate's proposal to cancel France's 18% debt held by the European Central Bank.
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Crypto BriefingBundesbank chief rejects French far-left debt cancellation plan, warns of hyperinflation risk
Nagel's rejection highlights the risk of undermining EU fiscal stability and market confidence, potentially leading to economic instability. The post Bundesbank chief rejects French far-left debt cancellation plan, warns of hyperinflation risk appeared first on Crypto Briefing .
When the German central bank wants to teach a candidate for the French presidential election Jean-Luc Mélenchon's proposal to cancel the ECB's share of French debt does not appeal to the Bundesbank. Its president, Joachim Nagel, yesterday waved the spectre of hyperinflation and the "Pandora's box", as if a political proposal could be ruled out by a central banker in turn. Certainly, Article 123 of the Treaties prohibits the monetary financing of…
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- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
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