, 3 tweets, 2 min read Read on Twitter
the @Europarl_EN is about to pass a new macro-finance initiative that threatens fiscal policy space for Euro Member States - 'far from being a stabilizing mechanism for the euro, SBBS would become yet another instrument of fiscal discipline'.
SBBSies wont do much good when a euro country comes under pressure in sovereign bond markets, but it can do significant damage #safeasset
no matter how many speeches and op-eds we get from European leaders calling for a Europe that can oppose US and China, we wont get one unless we can create a single safe asset. If only the new #ECB governor would fight for this #Benoit2019
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