Criticism of German domestic economic policy has reached unprecedented intensity in recent weeks. The United States Department of Treasury and the European Commission have both called out Germany for its substantial current account surpluses and asked German policymakers to take steps to restore balance. Superficial commentary has explained Germany’s large surplus as a product of …Read More
In this noontime lecture, Dr. Hans-Werner Sinn will discuss the Eurozone crisis and offer his insights into the current situation. He shows how The European Central Bank grants crisis-hit countries the option of money creation and the purchasing of government bonds at the expense of other euro countries. Germany’s Bundesbank in particular has accumulated significant amounts of Target claims when it is forced into making concessions in negotiations over bailout packages.
According to AICGS Senior Fellow Alexander Privitera, both the Federal Reserve (FED) and the European Central Bank (ECB) are increasingly becoming political bodies, forced by growing public scrutiny to build their own constituencies.
At the recent AICGS conference “Rising Tensions between the European Central Bank and the Bundesbank,” AICGS Senior Fellow Alexander Privitera and David Marsh, Co-Chairman of the Official Monetary and Financial Institutions Forum (OMFIF), discussed the role of the European Central Bank in the current phase of the financial crisis in Europe. In this podcast, Mr. …Read More
On March 26, 2012, the American Institute for Contemporary German Studies (AICGS) hosted special guest Mr. David Marsh. In a round-table moderated byAICGS Senior Fellow and N24 Washington correspondent Alexander Privitera, Mr. Marsh discussed the rising tensions between the European Central Bank (ECB) and the Bundesbank and what to expect in the coming months. Marsh …Read More
Facing increasing headwinds within her coalition, Merkel has decided to ask for a constitutional majority of two thirds of lawmakers to endorse the European fiscal pact, arguably her main personal achievement since the beginning of the crisis. It was a bold tactical move that could have far reaching consequences.