- The ECB is re-framing the strong currency headwind that it has created by prioritizing the Euro over the Eurozone economy.
- The ECB is supporting protectionism by financing it with negative interest rates.
- The strong Euro obliges the ECB to finance protectionism in order for protected Zombies to endure it.
- Financing protectionism is the same thing as trying to address insolvency with liquidity.
- Jens Weidmann wants the Bundesbank to “Recalibrate” in the opposite direction to the ECB’s recent “Recalibration”.
For further details see:
The ECB Finances Insolvency Protectionism With Liquidity