ECB to cut rates despite rampant inflation
(media.kotakuinaction2.win)
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Unless they're anticipating central bank digital currency, which will effectively be infinite money.
Financed by setting your savings on fire, forever.
and putting you in shackles
They're in a bind. Keeping interest rates as high as they are or raising them even further might help keep the actually productive EU economies like Germany and the Nordic countries in the black, but it also increases the chances of an Italian default. The southern economies are so deeply indebted that the ECB has been propping them up just to keep interest rates where they are.
This has always been the problem with the idea of the Euro.
Absolutely, monetary unions without fiscal unions are doomed to fail. It’s just a matter of time.
They have to. The debt they took out for generous social programs is too large and can’t be paid back. So they will set the interest rate below the inflation rate so that the debt will shrink in real terms. This is called financial repression. The US did this in the 1940 to pay for WWII.
In effect they will have the poor pay for the social programs by lowering everyone’s standard of living. This is 100% a deliberate act, and idiot leftists will blame “greedy corporations” instead of the governments that are actually making this happen.