Tuesday, September 30, 2014

Will an ordinary German citizen challenge the lawless ECB?

From today's Open Europe news summary:

German economist Hans-Werner Sinn writes in the FT, “Deflation is not a danger for southern Europe, but an essential precondition for restoring competitiveness.” He describes the ECB’s latest asset purchase plan as “nothing less than a fiscal bailout – something the ECB has no right to undertake.” Open Europe will host the London launch of Professor Sinn’s new book on 9 October. For details click here
FT: Sinn Open Europe event: Sinn

Herr Sinn calls upon German Chancellor Merkel to stand up for the rule of law. He states that, should she fail to do so, "...any German citizen can petition the court and force them to act." Perhaps Herr Sinn can emulate Martin Luther and nail his own Ninety-Five Theses to the door of the ECB.

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