The German Bundestag has accepted its gradual disempowerment through the expansion of the monetary union into a liability community for the sake of European peace. But in fact it also abdicates by surrendering the "royal right of parliament".

Confidence is essential for the existence of EMU. But it can only be won if the ECB's policies are explained in a way that is comprehensible to the public. This is impossible in the case of the ECB's negative interest rate policy.

The thesis that interest rates would have been lowered by a flood of savings due to greater efforts to save for retirement is not supported by facts.

Thomas Mayer in talk with The Investor's PODCAST on questions about the euro, differences to the US dollar and digital central bank money.

In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth.