The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss how Germany’s Constitutional Court upheld several complaints against the European Central Bank’s purchase of government bonds under a program started in 2015 and meant to boost EU economies and hold inflation to just below 2%. The ruling by Germany’s supreme court was the result of years of debate over the role of the eurozone’s central bank.
The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the EU recovery plan which is preparing to create a trillion euro escape route from the Covid-19 pandemic.
The leaders of the 27 EU nations already agreed to a €540 billion rescue package. Italy and Spain, which stand second and third in Covid-19 cases and deaths, have the right to borrow from the bailout mechanism, but are reluctant to do so in fear that taking on more EU debt would bury southern Europe in never ending austerity programs.
The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the US and UK stimulus plans, as both countries face an economic collapse due to the Covid-19 lockdown.
Authored by Tom Luongo via Gold, Goats, ‘n Guns blog:
We’ve reached the next stage of the EU’s evolution, whether it will adopt a common bond market or not. It’s been clear for a long time that something had to change if the European Union was to survive its political transformation.
And that issue is the formation of a shared debt structure underpinning the euro, commonly referred to as Eurobonds.
