Logo Logo
Help
Contact
Switch Language to German
Sinn, Hans-Werner (2018): The ECB's fiscal policy. In: International Tax and Public Finance, Vol. 25, No. 6: pp. 1404-1433
Full text not available from 'Open Access LMU'.

Abstract

While the ECB helped mitigate the euro crisis in the aftermath of Lehman, it has stretched its monetary mandate and moved into fiscal territory. This text describes and summarizes the crucial role played by the ECB in the intervention spiral resulting from its bid to manage the crisis. It also outlines ongoing competitiveness problems in southern Europe, discusses the so-called austerity policy of the Troika, comments on QE and presents two alternative paths for the future development of Europe.