More than a laughing stock, we should read Germany's COVID19 failures as the consequence of its #schwarzenull ideology

ft.com/content/bc5a3b…
fax!!!
remember the fiscal austerians' bullshit about not borrowing, even when markets beg you, to protect the next generations?

This is how Germany treats its future generations - maybe Bill Gates has some laptops somewhere?
look @squirrelista an opportunity for derisking tablets for children :)

and for those thinking - bah, this is a crisis of federalism - yes, a crisis brewed in the kitchen of austerity

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More from @DanielaGabor

29 Mar
my paper on the new Development as Derisking paradigm, or #WallStreetConsensus, or Washington Consensus updated for age of financial globalisation, is now out!

thanks to @BJMbraun @nssylla @squirrelista @NanCAlexander @clariscap @crystalsimeoni

onlinelibrary.wiley.com/doi/full/10.11…
it all started here, a life time ago, when evidence of the portfolio glut chasing development assets in the Global South was not so difficult to come by

Read 13 tweets
11 Mar
tonight promises to be exciting, come debate with us Eurozone's macrofinancial pathologies.
we'll discuss what is so far the most ambitious technocratic proposal to leave behind the pro-cyclical, damaging fiscal rules that monetarism gifted Euroarea citizens

piie.com/sites/default/…
this is another seemingly technical, yet deeply political conversation - the Commission is working on plans to review the austerity bias built within EU fiscal rules, to be published by end of 2021.
Read 8 tweets
10 Mar
when your report on greening @ecb monetary policy/collateral rules is delivered by paragliders.

politico.eu/article/greenp…
beats the Draghi Glitter Affair, if you ask me

ok, maybe it doesnt beat the Glitter Affair, but seriously, Greenpeace activists protesting COLLATERAL RULES of a central bank?

macrofinancial geek heaven!
Read 6 tweets
10 Mar
Our new @Greenpeace @NEF report on how @ecb can decarbonise monetary policy - collateral it accepts in both regular and unconventional loans - is out!

within the mandate, this is necessary action to eliminate carbon bias, legacy of market neutrality.

bloomberg.com/news/articles/…
Read 5 tweets
4 Mar
the craziest invention of financial capitalism is my pension fund investing in a closed private equity fund that runs private care-homes, in which I may end up one day, and die faster than if we collectively agreed to organise all this through the state

and this after days of reading about the rush for infrastructure assets in Europe, with billions of institutional investment money waiting for mortgage loans to fail...
Housing as an asset class is another gem: US investors gobbling up urban housing to rent it, then tap the EIB for some subsidised loans to 'green' them.
Read 4 tweets
3 Mar
this is big, @RishiSunak announces @bankofengland mandate to now include explicitly climate crisis.
The first large central bank to do so, no excuse to preserve carbon bias in collateral rules, in quantitative easing!
In our 2019 Green Finance report for @UKLabour , we proposed a Green mandate for @bankofengland

The Conservative Party delivered that, two years later.

labour.org.uk/wp-content/upl… Image
Read 4 tweets

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