03.03.2022 - Press

Thomas Mayer: Statement Meeting Shadow ECB Council ­ 3. März 2022


On Sunday, February 27, the German government announced a U-turn and stopped its long-standing policy of military abstinence and appeasement of Russia. Many commentators welcomed this as a return from a world of illusions and dreams to reality. Now, it is up to the ECB to exit its own world of illusions, in which it dished out seemingly free lunches in abundance with newly created money. Ms. Lagarde, please return to reality and face the tsunami of inflation! Raise the deposit rate to zero and wind down the bond purchases! Mark your inflation forecasts to market and admit that they are worthless. Tear down a policy that is built on these worthless forecasts!

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