UPV - Greenspan's Rational Pessimism Will Lead To Eurozone MMT Via Green Capital Markets Union
(Source: Bloomberg, caption by the Author)
Since the Fed has recently adopted a new monetary policy framework, the pressure for and expectation of a similar outcome from the ECB’s review process are building. The Eurozone, however, differs greatly from the Federal Republic of the United States of America. Without a true federal political landscape, the ECB will always be the poor relation in trying to apply a one size fits all federal monetary policy strategy. Progress is, however, being made in nudging the Eurozone towards federal political status. The COVID-19 pandemic and the Climate