Sunday, June 19, 2016

Bill Mitchell on the Euro, Austerity and MMT

Nice, short interviews.


  1. Concerning the first video, I wonder is not the US government obligated by law to fund its expenses by borrowing or taxation?

  2. The commentary of the videos is not quite right operationally . Operationally - being a member of the Euro does not stop the national central banks of euro countries buying the bonds of the countries national governments. However there are other European Union treaties such as Lisbon treaty that prohibit Central bank bonds buying for the practice of providing credit to government. National central banks of the euro members have been the buyers of national government bonds in Euro QE1 and are doing it now in Euro QE2.