There are several strands of the centre-right‘s argument about the ECB. The basic assumption of this group (which includes several prominent German SPD members) is that an explicit cap on sovereign spreads would leave the ECB bereft of power to control eurozone governments‘ profligacy. (…)
Has printing money been inflationary? Although much of the centre-right (and even some of the centre-left) still holds the Friedmanite view that „inflation is always and everywhere“ about printing money, the empirical evidence suggests that this view is simply wrong.