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Straubhaar, Thomas
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2 articles of this author have been cited in the European Press Review so far.
ECB must put out flames
The EU heads of state and government want to adopt further measures for more financial stability in Europe at their summit in Brussels on Thursday and Friday. But as long as there is no fiscal union the European Central Bank ECB must play a greater role, writes economic researcher Thomas Straubhaar in the business paper Finanz und Wirtschaft: "For now the ECB should put out the flames. Then it must make sure that the water necessary to do the fire-fighting is stocked in due time and form. That requires wise monetary policy instruments. If the worst comes to the worst, they should enable the ECB to bolster the loans it guarantees in purchasing old government bonds and thereby nip inflation expectations in the bud. Finally, on the long term a fiscal union with strict debt ceilings and automatic sanctions as well as the ESM as a jointly financed bailout fund should ensure that Europe not only becomes a liability and transfer union, but also a stability union."
» more information (external link, German)
More from the press review on the subject » EU Policy, » EU Constitution, » Fiscal Policy, » Europe
Transfer union is the solution
Only a European transfer union can save the euro, writes the conservative daily Die Welt: "What is needed is a jointly financed stability mechanism that makes financial help available to debt-stricken euro countries in times of crisis. Yes, the liability union is a step further on the path to the transfer union Germany so fiercely rejects. But the European transfer union is nothing but the natural and logical next stage in a lengthy process. Every federal country is a transfer union - look at the US, Germany and Switzerland. ... German Chancellor Merkel and French President Sarkozy could then finally voice that key sentence that would immediately quash all the speculation about individual euro countries and the Eurozone as a whole: 'Germany and France guarantee together with the other euro countries that no Eurozone country will go bankrupt."
» full article (external link, German)
More from the press review on the subject » EU Policy, » Economic Policy, » Europe
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