Ex-ECB chief economist Jürgen Stark: "Whatever it takes was the game changer"

The corona pandemic threatens to shatter the public finances of the EU member states.

The states are helping with rescue packages worth billions, and the EU has also launched an aid program with the reconstruction fund.

Support is also coming from the European Central Bank, which is intervening with the PEPP bond purchase program and further inflating its balance sheet.

WELT spoke to Jürgen Stark, the former chief economist of the ECB, about demands for debt cancellation, the monetary policy of the international central banks, inflation risks and the digital euro.

WORLD:

Mr Stark, David Sassoli, President of the EU Parliament, in an interview with the Italian newspaper “La Repubblica” called for the cancellation of national debts to be considered in view of the corona pandemic, the reallocation of the ESM, which is subject to strict conditions, and the Change European Treaties.

Does the corona pandemic justify such ideas?