C & G & M argue very convincingly that: (1) "Whatever ECB takes from the less risky countries" = "whatever ECB gives to the more risky countries" and (2) "whatever" is not forever.
Excellent work. It seems like only a crisis beyond the power of central banks (like a major or world war) will change the dynamic. So far, the easy answer has been preferred to the difficult one.
C & G & M argue very convincingly that: (1) "Whatever ECB takes from the less risky countries" = "whatever ECB gives to the more risky countries" and (2) "whatever" is not forever.
Excellent work. It seems like only a crisis beyond the power of central banks (like a major or world war) will change the dynamic. So far, the easy answer has been preferred to the difficult one.