Cancelling a debt we already own has a false allure
By Anne-Laure Delatte, Michel Husson, Benjamin Lemoine, Éric Monnet, Raul Sampognaro, Bruno Tinel and Sébastien Villemot
About the proposal to cancel ECB-held sovereign debt
While the end of the pandemic is not yet in sight, austerity is nonetheless making a discreet comeback in the public debate. If fiscal orthodoxy tolerated that States have stood by an economy hampered by health restrictions, it claims again that newly contracted sovereign debt would have to be repaid through …more ...