Monday 27 January 2020

The bond wagon

• Has the time arrived for the European Central Bank to issue euro bonds to euro member countries in trouble? Yes, I think so, but only when these countries get their houses in order.

This may or may not lead to inflation but there is an overriding need to lubricate the financial and banking systems of these euro member countries, plus possibly the banks of stronger member states that lent so heavily.

Former German chancellor Helmut Schmidt may have meant the same in his speech last weekend to the SPD Party when he criticised the German government's response to the euro crisis.

Jack Delors, the former president of the European Commission and architect of the euro, said the same in an interview last week.

Former Taoiseach and European ambassador to Washington John Bruton said the same in an 'Irish Times' article recently. A visiting professor, Steve Kane, from Australia said the same when addressing the Institute of International European Affairs in Dublin recently.

When people of knowledge are saying it then maybe it's euro bond time.

Paul Kent
Dundrum, Dublin 16

Irish Independent

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