Some thoughts around Brexit

On Friday morning I was shocked, probably just like everybody else. In the course of the day, that shock became anger. As such, I refrained from writing about Britain’s imminent quitting the European Union, fearing that it would only be a rant. Over the weekend, I have spoken with people about it, heard different opinions, read analyses, laughed about jokes and sorted my thoughts. This post might still be somewhat rant-ish, but very much less than if I had written it on Friday or Saturday (luckily I was busy otherwise). I will not deal with Brexit as such, there are already enough analyses about this disaster, but I will focus more on related thoughts about society, democracy and politics.
Continue reading Some thoughts around Brexit

ECB’s bond purchasing programmes are reckless in several ways

Even though the European public is by now used to ludicrously large sums the amount  of the ECB’s latest interventions should raise concerns. The QE programme for sovereign bonds saps up bonds worth €80b every month, a quarter of it German. Now the ECB has put their eye on another way to shower the continent with freshly printed money: corporate bonds. As if sovereign debt QE wasn’t problematic (and ineffective for that matter) enough, as the experience of last year showed. Continue reading ECB’s bond purchasing programmes are reckless in several ways