Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Let's just say that 3 and a half years later the principle it has been demosntrated that the court can be used to enforce a restrictive interpretation of the prohibition of monetary financing.

And I say restrictive because the letter of the treaty says nothing about secondary market purchases and yet it is becoming solidified in legal precedent that the prohibition of primary purchases must be extended to secondary purchases unless "sufficient time" elapses for "market price formation".

Hayek has won.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Mon Mar 16th, 2015 at 01:19:36 PM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series