Corona And The Miraculous Increase In Money In Europe
Prof. Dr. Dr. hc mult. Hans-Werner Sinn, Former President of the Ifo Institute December 14, 2020 In the corona crisis and the preceding euro crisis, companies lost revenue and the states lost tax funds. The lack of revenue was partly made up for by means of credit, which came not only from savers but increasingly also from the Eurosystem's printing presses. Compared to the beginning of the euro crisis, a six-fold increase in the central bank money supply was resolved and, for the most part, has already been implemented. The lecture discusses the distributional effects of this policy and the long-term dangers they represent for monetary value, wealth and the stability of society.
Source: ifo Institut