Well everybody knows France is living of a life like Louis XIV .. ‘apres nous le deluge’. That is why, being French and responsable between 2007-2011, Madame Lagarde is ECB president at the moment to fix her own problem 🤔
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Ironically, the ECB is much more activist on spreads now than it ever was under Draghi. Draghi's QE was bound by the capital key, which prevented skewing bond buying towards high debt countries. The capital key was dropped in 2020 under Lagarde and then the TPI was introduced in 2022...
sep 1, 2025, 2:55 pm • 1 0 • view
My point …
sep 1, 2025, 4:28 pm • 1 0 • view